PROJECT

Projects

Summary of InfraVentures Project

Project Number

43935

Date SIVP Disclosed

May 11, 2021

Country

Africa Region

Region

Africa

Last Updated Date

Jan 1, 2026

Industry

Infrastructure

Sector

Solar - Renewable Energy Generation

Department

CN3AU - Regional Industry - INF ME & Africa/Upstream - INFRA Africa

Project Description

IFC plans to provide an investment of US$ [3] million through its InfraVentures facility to co-develop with Scatec ASA, a Norwegian renewable energy developer, a joint platform for the development of redeployable solar PV projects. The new joint platform will start with a pilot project with additional follow-on projects initially across countries in Sub-Saharan Africa. The project will contribute to addressing the energy gap, a major impediment to Africa’s development: today, 650 million Africans do not have access to electricity and increased investment is needed to meet the continent’s fast-growing energy demand. Renewable energy offers an opportunity to accelerate access to clean, affordable electricity and to attract private investment that will create jobs

E & S Information

Key E&S risks may include ensuring the availability of the land upfront, receiving the necessary permits, and the timely completion of the relevant E&S studies. In the first instance IFC’s InfraVentures funding will, amongst others, be used to finance an Environmental and Social Impact Assessment (ESIA) scoping study. Where successful a full ESIA, along with supporting environmental and social studies, will be developed to ensure the project is designed, constructed, and operated in compliance with IFC Performance Standards.  The ESIA is expected to include (a) detailed environmental and social baseline, (b) alternative analysis, (c) construction and operation environmental and social impact assessment and corresponding mitigation measures/ management plans, and (d) appropriate disclosure, consultation, stakeholder engagement plan including a clear grievance mechanism.