Togo Secures $28.9M Financing for Solar Project

May 12, 2025

Key Figures & Findings: The African Development Bank Group has approved a $28.9 million (€26.5 million) financing package to support the development of a 62 MWp greenfield solar photovoltaic plant in Sokodé, Togo. The financing structure includes a loan of up to $20.1 million (€18.5 million) from the African Development Bank and a concessional loan of up to $8.7 million (€8 million) from the Sustainable Energy Fund for Africa (SEFA). Additional co-financing will be provided by PROPARCO, the French development finance agency, positioning the $66.5 million (€61 million) project as a model for public-private collaboration. Developed by Meridiam and Électricité de France (EDF), the project is integral to achieving Togo’s 2030 goal of installing 200 MWp of renewable energy capacity, enhancing the country’s energy security, reliability, and access.

Statistics & Insights: The $66.5 million solar project marks a landmark step towards advancing Togo’s national energy targets under the Togo M300 energy compact, while also aligning with the African Development Bank’s broader “Light Up and Power Africa” agenda. The 62 MWp plant will contribute to reducing annual CO₂ emissions by approximately 13,600 tons, aiding Togo’s compliance with its Paris Agreement commitments. SEFA’s participation underlines the strategic role of blended finance in catalyzing clean energy investments across Africa, promoting least-cost power generation, and boosting private sector involvement. The integration of a new 11-kilometer transmission line as part of the project further strengthens the reliability and accessibility of power delivery to communities.

Future Implications: Upon completion, the Sokodé solar project could significantly advance Togo’s transition from costly, polluting thermal generation to affordable and sustainable energy sources. It is expected to stimulate local economic growth by driving competitive bidding for energy projects, supporting industrial development, and promoting universal energy access by 2030. Moreover, the project’s successful execution could serve as a replicable model for public-private renewable energy collaborations across Africa, positioning Togo as a regional leader in clean energy deployment and sustainable climate action.