Senegal is one of the politically most stable countries in Africa and the second fastest growing economy in West Africa. Senegal’s national electricity access rate is estimated to be less than 30% in rural areas. The falling prices of PV panels and system components make solar an attractive solution, particularly, if the costs of the alternatives – imported oil products – are high.
The RECP trade missions aimed to stimulate the market for renewable energy in Africa by encouraging and supporting private sector engagement. The trade mission to Senegal from 25-28 September 2017 consisted of up to 15 European companies from the European solar sector and up to 20 Senegalese companies as well as 5 companies from other African countries.
Organised B2B-exchange and matchmaking allowed the participants to identify new business opportunities, exchange know-how and find partners for joint business development. To catalyse the discussion, RECP invited Senegalese and international financiers, including commercial and development banks, as well as governmental stakeholders for sharing their input in presentations and panels.