We assisted in closing a Senegalese solar streetlight project valued at 95 million euro. The deal, involving the Standard Chartered Bank, Murabaha financing and the Republic of Senegal, will support the installation and maintenance of 50,000 solar streetlights. Senior Associate and Team Leader Boubacar Diakite led our efforts.

The project represents an opportunity to reduce electricity bills for local authorities, improve safety in local communities, contribute to the development of night-time commercial activities, help reduce greenhouse gas emissions and diversify energy production sources.

The Republic of Senegal initiated and financed the project through its Agence Nationale pour les Energies Renouvelables du Sénégal and Ministry of Finance and Budget, respectively. 

Our scope of work included, among other things, reviewing and commenting on an Islamic Commodity Murabaha agreement, reviewing English common law terms agreement, and drafting and negotiating a pledge agreement.