PRESS RELEASE | Aera Group Closes € 1.7 Million Carbon Credits Transaction In Senegal.
Aera Group is pleased to announce the closing of a new record carbon credits transaction in Senegal. The deal provides long term price signal and financial value to CO2 emissions reduction generated by two solar PV plants, Méouane (30 MW) and Mérina Dakhar (30 MW). These projects were developed and are owned by Meridiam, a French Infrastructure Investment Group.
Méouane and Mérina Dakhar supply with green electricity the equivalent need of more than 400,000 people in Senegal. Thanks to the projects, 67,000 tonnes of CO2 emissions are avoided every year. Emissions reduction are certified under the Gold Standard and the UN Clean Development Mechanism.
On its initial phase the transaction covers up to 7 years’ carbon credits deliveries. It shall generate an estimated € 1.7 Million over this period, among which € 600 k of firm commitments in the next 2 years (10% of carbon revenues will directly fund local CSR actions).
Aera Group provided advisory services for carbon certification and is trading carbon credits on behalf of Meridiam.
For Thierry Deau, CEO of Meridiam: “This initiative is another example of Meridiam‘s philosophy to deliver sustainable and resilient infrastructure that improve the quality of people’s lives. It demonstrates Meridiam‘s strong commitments and dedication toward ESG and Sustainable Development Goals wherever it operates. And underlines how Meridiam permantly strives for increasing the financial and non-financial value of its assets all along their lifetime to the benefits of communities.“
For Fabrice Le Saché, Chairman of Aera Group: “This transaction sets a new record and demonstrates our operational ability to generate value for projects that mitigates CO2 emissions in Africa. The current demand for such assets is rising due to the global climate crisis and our portfolio is meeting this rising demand “.