The African Export-Import Bank (Afreximbank) and the Senegalese power company Ndar Energies have signed a Framework Agreement to finance the development of a €430m (US$455m) 250 MW CCGT power plant and gas pipeline in Saint Louis, Senegal. Under the terms of the deal, both parties will finance the development, design, construction and operation of the power plant and pipeline. Afreximbank will be the Lead Project Developer and Mandated Lead Arranger to take the lead in the provision of project preparatory services and in syndicating the debt raise.
Senegal is seeking to diversity its power mix, which is dominated by oil (73% in 2021). In addition to the development of independent power projects, the government intends to convert all the thermal power plants operated by the national electricity company Senelec to gas. GE and Calik Enerji are currently building a 300 MW CCGT project in Cap des Biches, near Rufisque. The power plant, owned by West Africa Energy, is expected to be commissioned in 2023.
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