Senegal Commits to €2.5B Green Plan

November 11, 2024 • Estimated Reading Time: 2 minutes

Key Figures & Findings: Senegal is on the verge of reaffirming its commitment to a €2.5 billion ($2.67 billion) Just Energy Transition Partnership (JETP) with major funders, including France’s Agence Francaise De Developpement (AFD), Germany, the EU, the UK, and Canada. This initiative aligns with similar JETP commitments in South Africa, Indonesia, and Vietnam, which aim to support sustainable energy development. The project has the backing of Agence Française de Développement (AFD), led by CEO Remy Rioux, who has experience facilitating such partnerships in emerging economies.

Statistics & Insights: Senegal’s JETP investment aims to significantly lower oil and gas dependency in its power mix. It follows similar programs, such as Indonesia’s $20 billion deal and Vietnam’s $15.5 billion commitment.

Future Implications: This shift could lead to significant reductions in fossil fuel reliance by 2025, promoting greener infrastructure development.