PASH Global has invested in major solar photovoltaic farm project in Mali
15 January 2020: PASH Global, an impact investor and developer of clean power projects that is majority owned by commodity trading firm Trafigura, has acquired a 49.9 percent share in the solar photovoltaic (pv) farm project in Mali being developed by independent renewable energy power producer Akuo Energy.
Located in the town of Kita, 180km west of Bamako, the solar pv farm project will have a total production capacity of 50 megawatts. When construction is completed in 2020, the project will become the largest solar farm in West Africa and one of the largest in Sub-Saharan Africa.
The build, own, operate and transfer (BOOT) concession for the project was signed in 2015 on a 30-year basis with a 28-year power purchase agreement with national power company Energie du Mali (EdM). It is the first utility scale renewable project in Mali and was the brainchild of R20-Regions of Climate Action’ NGO founded by Arnold Schwarzenegger.
The solar pv farm project is intended to generate social benefits including creating local and sustainable jobs for Malian people. At full capacity it is expected to provide over 91,700 households in Mali with green electricity and save more than 51,700 metric tonnes of carbon emissions each year.
“This is the first of a number of clean energy projects that PASH Global is looking to invest in across the globe. We are committed to building additional capacity in renewables and clean fuels across the African continent with strong and capable partners such as Akuo Energy,” said PASH founders Kofi Owusu Bempah and Vine Mwense.
“The Mali solar pv farm project provided an opportunity to invest in a well-developed project with experienced partners. It feels appropriate that our first solar investment will be in Africa,” said Robert Gillon, Senior Manager from Trafigura’s newly created Power and Renewables Trading Division.
For further information contact:
PASH Global PR & Communications Team:
Trafigura’s Global Press Office: +41 22 592 45 28 or firstname.lastname@example.org
About PASH Global
PASH Global (PASH) is an impact investor in the clean energy sector. Headquartered in London, PASH was established in 2012 with the intention of using the latest innovations in technology to develop, finance, build, operate and maintain power assets globally. Trafigura, a market leader in the global commodities industry holds a majority shareholding in PASH. As an impact investor, PASH works beyond its bottom line to enhance the social and environmental impacts of its projects. Visit: www.pashglobal.com.
Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. Trafigura sources, stores, transports and delivers a range of raw materials (including oil and refined products and metals and minerals) to clients around the world. The trading business is supported by industrial and financial assets, including 49.3 percent owned global oil products storage and distribution company Puma Energy; global terminals, warehousing and logistics operator Impala Terminals; Trafigura's Mining Group; and Galena Asset Management. The Company is owned by over 700 of its 8,000 employees who work in 80 offices in 41 countries around the world. Trafigura has achieved substantial growth over recent years, growing revenue from USD12 billion in 2003 to USD 171.5 billion in 2019. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade. Visit: https://www.trafigura.com