Te Power has broken ground on a $121mà‚ oil-fired power plantà‚ in Conakry, Guinea, westà‚ Africa.
The 50 MW project à‚ will be the first project-financed independent power project in Guinea and meets the most stringent local and international (World Bank/IFC) environmental requirements.
The Tàƒ¨ Project is sponsored by Endeavor Energy (Endeavor), as the lead developer and majority owner.
Endeavor is a leading Africa-focused independent power company backed by global private equity firm Denham Capital. Endeavor’s minority partner in the Tàƒ¨ Project is Energie, Environnement et Mines S.A. (E2M), a Mauritanian mining and power company.
Tàƒ¨ Power president Amadou Ba said: “I would like to extend a warm thanks on behalf of Tàƒ¨ Power Company to the Government of Guinea and to all of our project partners for their continuous support and dedication in bringing this project to fruition.
“The Tàƒ¨ Project is fully aligned with Guinea’s national economic and social development goals and represents the first step in Endeavor Energy’s commitment to a growing partnership with the Government of Guinea and to delivering additional power solutions in the years ahead for the people of Guinea.”
The Tàƒ¨ Project is specifically designed to help alleviate the power deficit in Guinea and provide reliable power as needed to meet the country’s future power demand in conjunction with Guinea’s ambitious renewable energy agenda and seasonalà‚ hydroelectric powerà‚ generation.
The plant’s construction is expected to take 15 months, coming online in mid-2019, and once constructed, will improve electricity access for over 1,000,000 Guineans.
The Tàƒ¨ Project is another achievement for the U.S. Power Africa program and its partners OPIC, Endeavor, and Denham Capital.