By Nathan Allen

Engie SA (ENGI.FR) and investment partner Meridiam have been selected by Senegal's Electricity Sector Regulation Commission to build and run two solar-power projects with a total output of 60 megawatts, the company said Wednesday.

The two projects are part of Senegal's so-called Scaling Solar initiative, which is jointly led by the International Finance Corporation and Senegalese authorities, Engie said.

Engie and Meridiam will each hold a 40% stake in the project company, while Senegal's sovereign wealth fund, FONSIS, will take the remaining 20%.

Engie said it will be responsible for the plants' construction and operation.

Neither company disclosed the projects' value.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

April 18, 2018 09:40 ET (13:40 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.
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