Deutsche Bank leads the financing of a public lighting project with 100.000 autonomous streetlights in the Republic of Senegal partnering with Salvi
The transaction was structured through a Cesce-covered facility of 220 million euros and a complementary commercial loan of 7 million euros.
Provides financing for the contract between Salvi Lighting Barcelona and the Senegalese National Agency for Renewable Energies.
Involves the supply and installation of 100,000 autonomous solar-powered smart streetlights, covering 4,000 kilometers and saving the emission of 22,500 tons of CO2 per year.
Deutsche Bank arranged a 227 million euros lending transaction for the Republic of Senegal through its Ministry of Economy, Planning and Cooperation (MEPC) to finance the supply, installation and maintenance of 100,000 autonomous solar-powered streetlights across the country.
The transaction finances the commercial contract signed between the Senegalese National Agency for Renewable Energies and Salvi Lighting Barcelona.
“This transaction demonstrates our ability to structure complex international trade transactions, employing all our capabilities and dedication as the Global Hausbank, to service our clients” said Iñaki Ramiro, Head of Structured Trade & Export Finance (STEF) at Deutsche Bank for Iberia & Latinamerica.
The financing signed in July 2023 and currently effective, was structured by means of a 220 million euros facility covered by the Spanish Export Credit Agency (Cesce), under their Green Buyer Credit Policy, which was syndicated by Deutsche Bank with four other financial institutions, and a 7 million euros complementary commercial loan facility.
The 100,000 streetlights manufactured by Salvi Lighting in Senegal will cover 4,000 kilometers and improve safety thus reducing fatal accidents, security and enhance economic development. Being solar-powered, the new streetlights will also save more than 22,500 tons of CO2 per year compared to lights that use power generated by burning fossil fuel.
The financing meets the eligibility criteria of Deutsche Bank’s own Sustainable Finance Framework and qualifies for the Green Asset Pool – under energy efficiency – by providing LED lighting using solar energy. It is a smart and connected lighting solution that allows lighting and all services to be controlled on a single platform, Smartec. The project will create over 400 quality jobs, facilitate knowledge transfer, and contribute to a better and more sustainable future for Senegal, while providing quality lighting solutions that meet the specific needs of communities.
The transaction is another example of Deutsche Bank's capabilities, experience, and presence in Africa, highlighting the strong internal cooperation that has allowed the bank to further expand its relationship with Senegal and commitment to the country.
Since opening a representative office in Cairo in 1959, Deutsche Bank has strongly contributed to financing the development of infrastructure across the African continent. The bank uses its expertise in structuring and arranging financing to help countries access the traditional global capital markets and other alternative pools of liquidity.
Deutsche Bank has well over 200 staff providing banking services to our clients on the African continent. We have teams situated in our branch in Johannesburg, South Africa and representative offices in Lagos, Nigeria and Cairo, Egypt. In addition, there are a number of coverage bankers and product specialists based in our regional hub for the Middle East & Africa, Dubai and other global hubs including Frankfurt, London and Geneva (amongst others), that provide banking services to clients and individuals domiciled on the continent.
In recognition of the bank’s role in supporting the African economy, Deutsche Bank received “Africa's Best Bank for Financing” Award by Euromoney Magazine during its 2023 Awards for Excellence cycle.
Deutsche Bank has been named Best Foreign Investment Bank in Angola, Gabon, Ghana and Rwanda at EMEA Finance Magazine’s African Banking Awards in its 2022 cycle. Prior to that, Deutsche Bank was named Best Foreign Investment Bank in Africa for three years in a row for the years 2021, 2020 and 2019 by the same publication.
Disclaimers and disclosures
Deutsche Bank AG, Dubai (DIFC) Branch is a branch of Deutsche Bank AG located and registered in the Dubai International Financial Centre (DIFC) in the Emirate of Dubai, United Arab Emirates, with registered no. 00062. Principal place of business in the DIFC: Dubai International Financial Centre, Gate Village, Building 5, PO Box 504902, Dubai, United Arab Emirates. Deutsche Bank AG, Dubai (DIFC) Branch is regulated by the Dubai Financial Services Authority (“DFSA”) and is authorized to provide Financial Services to Professional Clients only, as defined by the DFSA.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in the light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 11 March 2022 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.
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Deutsche Bank arranged a 227 million euros lending transaction for the Republic of Senegal through its Ministry of Economy, Planning and Cooperation (MEPC) to finance the supply, installation and maintenance of 100,000 autonomous solar-powered streetlights across the country.
The transaction finances the commercial contract signed between the Senegalese National Agency for Renewable Energies and Salvi Lighting Barcelona.
“This transaction demonstrates our ability to structure complex international trade transactions, employing all our capabilities and dedication as the Global Hausbank, to service our clients” said Iñaki Ramiro, Head of Structured Trade & Export Finance (STEF) at Deutsche Bank for Iberia & Latinamerica.
The financing signed in July 2023 and currently effective, was structured by means of a 220 million euros facility covered by the Spanish Export Credit Agency (Cesce), under their Green Buyer Credit Policy, which was syndicated by Deutsche Bank with four other financial institutions, and a 7 million euros complementary commercial loan facility.
The 100,000 streetlights manufactured by Salvi Lighting in Senegal will cover 4,000 kilometers and improve safety thus reducing fatal accidents, security and enhance economic development. Being solar-powered, the new streetlights will also save more than 22,500 tons of CO2 per year compared to lights that use power generated by burning fossil fuel.
The financing meets the eligibility criteria of Deutsche Bank’s own Sustainable Finance Framework and qualifies for the Green Asset Pool – under energy efficiency – by providing LED lighting using solar energy. It is a smart and connected lighting solution that allows lighting and all services to be controlled on a single platform, Smartec. The project will create over 400 quality jobs, facilitate knowledge transfer, and contribute to a better and more sustainable future for Senegal, while providing quality lighting solutions that meet the specific needs of communities.
The transaction is another example of Deutsche Bank's capabilities, experience, and presence in Africa, highlighting the strong internal cooperation that has allowed the bank to further expand its relationship with Senegal and commitment to the country.
For further information, please contact:
Deutsche Bank AG
Press & Media Relations
Mohanad Nahas
Phone: +971 (0) 4 3611 754
E-Mail: mohanad.nahas@db.com
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About Deutsche Bank in Africa
Since opening a representative office in Cairo in 1959, Deutsche Bank has strongly contributed to financing the development of infrastructure across the African continent. The bank uses its expertise in structuring and arranging financing to help countries access the traditional global capital markets and other alternative pools of liquidity.
Deutsche Bank has well over 200 staff providing banking services to our clients on the African continent. We have teams situated in our branch in Johannesburg, South Africa and representative offices in Lagos, Nigeria and Cairo, Egypt. In addition, there are a number of coverage bankers and product specialists based in our regional hub for the Middle East & Africa, Dubai and other global hubs including Frankfurt, London and Geneva (amongst others), that provide banking services to clients and individuals domiciled on the continent.
In recognition of the bank’s role in supporting the African economy, Deutsche Bank received “Africa's Best Bank for Financing” Award by Euromoney Magazine during its 2023 Awards for Excellence cycle.
Deutsche Bank has been named Best Foreign Investment Bank in Angola, Gabon, Ghana and Rwanda at EMEA Finance Magazine’s African Banking Awards in its 2022 cycle. Prior to that, Deutsche Bank was named Best Foreign Investment Bank in Africa for three years in a row for the years 2021, 2020 and 2019 by the same publication.
Disclaimers and disclosures
Deutsche Bank AG, Dubai (DIFC) Branch is a branch of Deutsche Bank AG located and registered in the Dubai International Financial Centre (DIFC) in the Emirate of Dubai, United Arab Emirates, with registered no. 00062. Principal place of business in the DIFC: Dubai International Financial Centre, Gate Village, Building 5, PO Box 504902, Dubai, United Arab Emirates. Deutsche Bank AG, Dubai (DIFC) Branch is regulated by the Dubai Financial Services Authority (“DFSA”) and is authorized to provide Financial Services to Professional Clients only, as defined by the DFSA.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in the light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement. Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission. Such factors are described in detail in our SEC Form 20-F of 11 March 2022 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir.