Can Senegal achieve its broader economic objectives?

Senegal’s significant efforts to develop its energy sector and deliver energy access to more people are laying important groundwork for the country to achieve its broader economic objectives, according to a new report from the International Energy Agency (IEA).

How has Senegal reformed its energy sector?

Since the launch of the Plan Sénégal Émergent, Senegal has adopted reforms designed to attract foreign investment in its energy sector and boost participation from the private sector, while leveraging significant support from development finance institutions.

Is Senegal a good country for energy transitions?

Senegal is a strong advocate for just energy transitions. The country has already met the wind and solar targets it established for 2025 under its most recent Nationally Determined Contribution to the Paris Agreement, and it has joined the Global Methane Pledge to reduce the world’s methane emissions 30% from 2020 levels by 2030.

What is Senegal's energy policy?

The IEA’s Energy Policy Review of Senegal 2023, published today, finds that energy is at the heart of Senegal’s 2035 strategy for accelerating sustainable development and economic growth known as the Plan Sénégal Émergent (PSE), or the Emerging Senegal Plan.

Will Senegal become an oil and gas producer in 2024?

This partnership could mobilise up to EUR 2.5 billion to support Senegal’s efforts to achieve universal energy access and strengthen a resilient, secure and sustainable energy system that fosters sustainable development and economic growth. In 2024, Senegal is expected to become an oil and gas producer.

Why is IEA partnering with Senegal?

“It also confirms the significant achievements in terms of strengthening the electrical system, promoting renewable energies, expanding universal access to electricity, and establishing a governance framework in line with the best standards.” The IEA and Senegal have fostered close collaboration in recent years.