Energy and power
Senegal
Illustrative example
A solar and storage plant, taken from permit to financial close
A developer had land, a grid study and a committed sponsor, but no clear route through approval and a power purchase agreement lenders would not accept.
Andreas Gücklhorn, Unsplash
ClientIndependent power producer
CountrySenegal
Period2025
Our roleLead adviser on permits, power terms and lenders
Where it started
The challenge
The project sat between three agencies with no agreed order for approvals, and each was waiting on the others. Eighteen months had passed with little progress.
The draft power purchase agreement also left grid availability and curtailment risk with the developer, a risk two lenders had already refused.
What we did
Our approach
- Sequence the approvalsOne joint timetable across all three agencies.
- Rebalance the power termsEach risk placed with the party best able to manage it.
- Prepare for lendersModel, memorandum and data room, through to credit approval.
Where it ended
The outcome
Every permit was in place within nine months, the amended agreement was signed and three development finance lenders committed to the senior debt.
40 MWsolar, 20 MWh storage
14 momandate to close
3DFI lenders
They knew which permit would hold us up before we did, and they had a plan for it.
Mandate lead[Partner name]Energy and power
Next case study