Tè power plant, Guinea
Name of the Project
Tè power plant.
Location
Conakry, Guinea.
Client
The Tè project is sponsored by Endeavor Energy, as the lead developer and majority owner. Endeavor’s minority partner is Energie, Environnement et Mines, a Mauritanian mining and power company.
Project Description
The project entails the construction of a 50 MW greenfield thermal power plant.
Once built, the plant will improve electricity access for more than one-million Guineans.
Potential Job Creation
The plant’s construction is expected to create up to 150 jobs, mostly for locals. Further, up to 40 people will be employed during operations.
Value
The $121-million investment required for the Tè project comprises $32-million in equity from Endeavor and $89-million in debt financing from the Overseas Private Investment Corporation (OPIC) and CDC Group. In addition, OPIC has provided up to $30-million of political risk insurance.
Duration
The plant’s construction is expected to take 15 months, coming online in mid-2019.
Latest Developments
Endeavour reached financial close on the project in March this year.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Not stated.
Contact Details for Project Information
On behalf of Endeavor Energy, Emerson Clarke, tel +44 3727 1564 or email emerson.clarke@fticonsulting.com.
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