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Introduction
Imported oil’s price varies, and recently, prices have been very high. The economy, particularly enterprises, suffers as a result of the lack of electrical access, power outages, and inadequate electricity infrastructure. People experience difficulties in their houses due to a lack of illumination and electricity to run the equipment. The most difficult places to establish electrical systems continue to be rural areas. Rural residents, however, find it difficult to pay the high prices of power due to poor earnings. Senegal gains more excellent options to develop alternative energy sources such as hydro, wind, temperature, and offshore fossil fuel as a result of this sustainable energy initiative, which also draws new investors to the nation.
Company description
Power Compact plans to construct solar power facilities in Senegal as part of a plan to broaden reliable electricity with an emphasis on renewable sources. This entails developing biomass for power generation, scaling up the share of renewable energy in intertwined grid systems while lowering the risk of outages, as well as in physical design, and promoting the deployment of renewable energy by establishing incentives to accommodate the investment of renewable energy machinery. The plant was developed in a collaborative partnership, including both corporate and public construction and financing, and it is owned by the Power Compact company. The Senegal-based solar power plants built by Power Compact create jobs, enhance living and working conditions, and lower electricity bills.
Market analysis
The energy industry is one of the critical drivers of Senegal’s growth, and the administration of Senegal wants the country to become an economic powerhouse. Imported oil’s price varies; recently, prices have been very high. The economy, particularly enterprises, suffers as a result of the lack of electrical access, power outages, and inadequate electricity infrastructure. People experience difficulties in their houses due to a lack of illumination and electricity to run the equipment. The most difficult places to establish electrical systems continue to be rural areas. Senegal gains more excellent options to develop alternative energy sources such as hydro, wind, temperature, and offshore natural gas as a result of this renewable electricity initiative, which also draws new investors to the nation. The most difficult places to establish electrical systems continue to be rural areas. Senegal’s economy is growing well since it is working on several projects to advance its development (Angeli Aguiton, 2021). Rural residents, however, find it difficult to pay the high expenses of power due to poor earnings.
Products
One environmentally friendly method of powering residences or establishments is solar electricity. Since solar energy is used to generate electricity rather than burning fossil fuels, there are no immediate releases of greenhouse gases. Since sunlight is a renewable source, it will always be available. Senegal’s policy for expanding access to electricity, which focuses on renewable sources, includes solar power facilities. Senegal’s new solar power facilities create job possibilities, enhance living and working environments, and lower electricity prices.
Marketing Plan
Many groups on social media are devoted to all facets of solar, from technological innovations to the newest legislation to sales strategies. Renewable energy and conservation are popular topics. This implies there are lots of fantastic chances for solar advertising. Although social media is a valuable marketing medium, obtaining organic leads without putting in much effort can be difficult. Spending more money on sponsored digital networks can be an excellent choice for Power Compact. To stand out from the crowd, the business needs to make sure its advertisements are individualized.
Conclusion
The economy of Senegal experiences ups and downs in line with global price movements. Farmers experience adverse effects when export prices decline because their earnings decline. Senegalese lack access to essential services like healthcare, education, and other services. Due to their inability to obtain better employment in Senegal, many people leave the country. Despite the high levels of poverty in many rural parts of Senegal, one answer is to grow the energy industry, which will boost the country’s economy. A significant barrier to economic growth is the lack of availability of power. Senegalese citizens can affordably get the electricity they require from solar power facilities. As the world’s oil reserves deplete, renewable energy sources are increasingly important. A good influence on development indicators, including wellness, education, food and nutrition security, gender equality, occupations, and poverty alleviation, can be shown when sustainable energy solutions are made available to those who are poor. Senegal is on the right track to success as more and more nations transition to renewable energy.
References
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