Actis has won the climate change impact project/investment of the year at the inaugural 2020 Environmental Finance IMPACT Awards.
The award is in recognition of Actis’ role in developing Parc Eolien Taiba N’Diaye, Senegal’s first large scale wind energy project.
Once fully constructed, the project will provide 158.7 megawatts of clean, reliable power to Senegal’s electricity grid, a 15% increase in electricity generation capacity for the country. The wind farm has been developed by energy platform Lekela Power, which is 60%-owned by Actis, and will help offset around 6 million tonnes of carbon emissions and will create 600 employment opportunities during the peak of its construction phase.
Torbjorn Caesar, Senior Partner at Actis, commented: ”Parc Eolien Taiba N’Diaye represents the tangible, measurable benefits we aim to bring to local communities and to the environment. Projects such as this best exemplify our belief that values drive value and we are delighted that the impact such investment has on the climate has been recognised by Environmental Finance.Parc Eolien Taiba N’Diaye is also a key project in Lekela Power’s portfolio, helping the platform towards its target of delivering 1,000 megawatts of renewable energy across Africa over the next five years.”
Shami Nissan, Head of Responsible Investment at Actis, added: “Senegal has some of the highest electricity prices in the world due to its dependence on costly fossil fuel imports. Actis is therefore proud to have been the lead developer on a project that will deliver cheap, clean power for over 2 million people. Parc Eolien Taiba N’Diaye best exemplifies our approach to responsible investment, which centres on delivering shared value for all our stakeholders.”
Earlier this year, Actis received the highest rating score for the fourth consecutive year in the UN Principles for Responsible Investment (“PRI”) independent assessment. Actis also won Private Equity Manager of the Year at the Environmental Finance 2020 Sustainable Investment Awards.