Africa50 and partners reach financial close on Senegalese power plant
A 120 megawatt power plant in Malicounda, Senegal has reached financial close, with a total project cost of €154 million.
The combined cycle power plant is expected to produce more than 956 GWh of baseload energy per year, increasing the country’s power generation capacity by 8% while reducing generation costs.
The Malicounda power plant is also designed to convert to the use of natural gas from domestic fields currently under development, shifting Senegal’s energy mix to cleaner fuel.
The project was developed by MP Energy, Africa50, and Senelec, with senior debt provided by the African Development Bank, Arab Bank for Economic Development in Africa, West African Development Bank, and OPEC Fund for International Development.