Mauritania – France: Loan Agreement signed to Finance the Construction of 10 Solar Power Stations

The Minister of Economic Affairs and Development, Mr. Abdallah Cheikh-Sidia, and the French Minister Delegate for Foreign Trade and Investment Attractiveness, Nicolas Forissier, signed a concessional loan agreement on Tuesday in Nouakchott to finance the construction of 10 solar power stations equipped with storage units, for an amount of €39,223,671, equivalent to (1,817,000,000) new ouguiyas.

This funding aims to support our country’s significant efforts in the field of clean energy development and to reduce the gap between rural and urban areas.

In a speech on the occasion, the Minister of Economic Affairs and Development said that this funding reflects the commitment of His Excellency the President of the Republic, Mr. Mohamed Ould Cheikh El Ghazouani to work on universalizing  access to basic services for the population through programmes that promote growth, reduce social disparities and provide employment opportunities. The program that the government is working on to achieve as part of its sectoral plans to implement numerous structural electricity projects for which significant resources have been allocated from the state’s investment budget.

The minister praised the level of partnership between the two countries and the effective and diverse support provided by France to Mauritania, noting that bilateral cooperation is undergoing a real qualitative shift, expanding to include education, vocational training, decentralisation, food security, health and infrastructure.

The Minister of Economic Affairs and Development explained that Mauritania has significant potential in the field of solar and wind energy and is witnessing strong investment in this area amid remarkable growth in demand for electricity, both to drive the economy and to meet the needs of citizens.

He added that these investments are supported by a number of financiers, including the French Development Agency, with the aim of rationalizing the use of these energies, establishing high-voltage lines, connecting the national grid to the grids of neighbouring countries, doubling distribution networks in large residential areas, and encouraging private sector access to energy production and distribution.

The Minister emphasised that the efforts made in this area have made it possible to increase the national electricity coverage rate to more than 50%, which is an important step towards achieving the seventh Sustainable Development Goal on access to clean energy.

He noted that this financing will contribute to supporting Mauritania’s significant efforts to improve the supply of clean energy, reduce disparities between rural and urban areas, support economic activities, combat poverty, reduce migration, and upgrade communication, education and health services.

For his part, the Minister Delegate for Foreign Trade and Investment Attractiveness expressed his delight at the signing of the financing agreement for the project to build ten solar power plants equipped with storage units, explaining that this signing comes within the framework of the existing partnership between the two countries.

He noted that he was honoured to visit Mauritania, his first visit to Africa, expressing his pride in the long-standing friendship between the two countries and affirming his country’s continued support for Mauritania through such projects.

The signing ceremony was attended by the Minister of Energy and Petroleum, Mr. Mohamed Ould Khaled, the Secretary General of the Ministry of Economic Affairs and Development, the French Ambassador to Mauritania, and a number of officials from both sectors.