{"id":476956,"date":"2023-01-23T22:34:58","date_gmt":"2023-01-23T22:34:58","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=476956"},"modified":"2023-01-23T22:35:04","modified_gmt":"2023-01-23T22:35:04","slug":"africa50-and-its-partners-reach-financial-close-on-the-120mw-malicounda-power-plant-project-in-senegal","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2023\/01\/23\/africa50-and-its-partners-reach-financial-close-on-the-120mw-malicounda-power-plant-project-in-senegal\/","title":{"rendered":"<strong>Africa50 and its partners reach financial close on the 120MW Malicounda power plant project in Senegal<\/strong>"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>\n<p class=\"wp-block-paragraph\">The 120 Megawatts power plant\u00a0in\u00a0Malicounda, Senegal, co-developed by Africa50 and its partners has reached financial close for a total project cost of \u20ac154m.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The combined cycle power plant is capable of producing more than 956 GWh of baseload energy a year, increasing the country\u2019s power generation capacity by 8% while substantially reducing generation costs. The Malicounda power plant is also designed to convert to the use of natural gas as soon it comes on stream from domestic fields which are currently under development, shifting Senegal\u2019s energy mix to cleaner fuel.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Malicounda power plant, which started commercial operations in August 2022, was developed by MP Energy acting on behalf of the main sponsor Melec PowerGen (MPG) following a call for tenders issued by Senelec, a power generation platform focusing on sub-Saharan Africa; Africa50, the pan-Africa infrastructure investment platform; and Senelec, the national utility company of Senegal.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The senior debt was provided by the African Development Bank (AfDB), acting as the mandated lead arranger, the Arab Bank for Economic Development in Africa (BADEA), the West African Development Bank (BOAD) and the OPEC Fund for International Development (OFID).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Africa50 acted as a convener, bringing together key stakeholders to accelerate project implementation, contributed equity to commence the project and mobilized along with MP Energy, and Senelec, FCFA 50 billion bridge financing which was arranged by Oragroup to complete the project on a fast-track basis. Significant development impact was delivered through the creation of local jobs, the training of local technicians to be integrated into the operational phase of the project, gender promotion in the recruitment process, and supporting local health infrastructure.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cAs part of Africa50\u2019s drive to support the continent\u2019s just energy transition, we have invested significantly in the power sector and 17 million people in Africa now have access to reliable electricity through projects financed by Africa50\u201d<\/em>, said&nbsp;<strong>Alain Ebobiss\u00e9, the CEO of Africa50<\/strong>.&nbsp;<em>\u201cWe are pleased to have supported the vision of H.E President Macky Sall in developing and bringing the Malicounda power plant project to reality, to support the economic development of Senegal\u201d, Mr. Ebobiss\u00e9<\/em>&nbsp;added.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>\u201cThe Malicounda Project marks MPGs third long-term investment in Senegal\u2019s power sector following the Kounoune and Tobene Projects. The project was one of the few which continued in the midst of the pandemic. Its success would not have been possible without the support and dedication of our partners &#8211;&nbsp; Africa50, Senelec, Matelec, Wartsila, and Oragroup. We look forward, with our partners, to continue empowering Africa\u201d<\/em>&nbsp;said&nbsp;<strong>Samer Nasr, the CEO of MPG and founder of MP Energy<\/strong>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>&#8220;This achievement is a good&nbsp;example of synchronized efforts based on the vision of the President, H.E President Macky Sall, with decisive support of the Ministry of Petroleum and Energy as well as the judicial, financial and engineering expertise of Senelec&#8217;s staff and our partners,&#8221;<\/em>&nbsp;said&nbsp;<strong>Papa Mademba Bit\u00e8ye, Senelec&#8217;s General Manager<\/strong>.&nbsp;<em>&#8220;This is one more brick in the process of mastering the challenge of having reliable, good quality energy for the customer, in sufficient quantity and equitably distributed throughout the country and to all our industries and households<\/em>,&#8221; concluded&nbsp;<strong>Mr. Bit\u00e8ye<\/strong>.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The 120 Megawatts power plant\u00a0in\u00a0Malicounda, Senegal, co-developed by Africa50 and its partners has reached financial close for a total project cost of \u20ac154m. The combined cycle power plant is capable of producing more than 956 GWh of baseload energy a year, increasing the country\u2019s power generation capacity by 8% while substantially reducing generation costs. The<\/p>\n","protected":false},"author":527180,"featured_media":476957,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[12591,12046],"tags":[15169,21024],"class_list":["post-476956","post","type-post","status-publish","format-aside","has-post-thumbnail","category-feature","category-leaders-en","tag-africa50","tag-malicounda","post_format-post-format-aside","pmpro-has-access"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Africa50 and its partners reach financial close on the 120MW Malicounda power plant project in Senegal - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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