Name and Location
Azito gas-to-power plant expansion project, Côte d’Ivoire.

Client
Globeleq and IPS (West Africa).

Project Description
The project entails the expansion of the Azito gas-to-power plant, near Abidjan, by 139 MW to a total nominal capacity of 420 MW.

The combined-cycle technology being installed at the plant uses waste heat from the existing gas turbine exhausts to produce steam to drive the new steam-turbine generator. Once in operation, the facility will produce 50% more power using no additional gas and, therefore, no further emissions will be emitted.

The additional electricity will be sold to the Côte d’Ivoire government through CI Energies under a 20-year concession.

Value
Not stated.

The project has been financed on a limited recourse basis, with 80% of the expansion funding provided by lenders, including the International Finance Corporation and European development finance institutions, led by Proparco and BOAD.

Globeleq will contribute the bulk of the equity funds, with the remaining funds provided by its project partner, IPS (West Africa), a company that is majority-owned by the Aga Khan Fund for Economic Development.

The Multilateral Investment Guarantee Agency, a member of the World Bank Group, is providing insurance cover for some aspects of Globeleq’s investment.

Duration
The expansion project is expected to be completed in early 2015.

Latest Developments
Globeleq has reported that the Azito gas-to-power plant continues to remain on schedule.

On site, major works include the placing of about 300 foundation piles in preparation for construction of the major equipment and other buildings for the new area.

The new steam turbine and electric generators are being manufactured and will be transported to site by mid-2014.

Foundations are being prepared for the two heat-recovery boilers that will provide the steam supply for the new steam turbine.

Key Contracts and Suppliers
Hyundai Engineering & Construction (engineering, procurement and construction).

On Budget and on Time?
Not stated.

Contact Details for Project Information
Globeleq VP of engineering and construction, Jake McConnell, tel +1 713 403 7488.
Hyundai Engineering & Construction tel +82 2 746 1114.