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AfrElec GAS-FIRED GENERATION AfrElec
Azito Energie reaches financial close for Côte d’Ivoire
CÔTE D’IVOIRE
AFRICAN IPP Azito Energie has reached finan- cial close on its 253-MW expansion of the exist- ing 460-MW Azito gas-fired power plant near Abidjan in Côte d’Ivoire.
The Phase IV expansion, and a 30-MW tech- nical upgrade completed in 2019, will allow Azito to supply 713 MW, or 30%, of Côte d’Ivo- ire’s installed capacity.
Azito Energie is owned by Africa-focused independent power producer (IPP) Globeleq and IPS (West Africa), which is owned by the Aga Khan Fund for Economic Development.
The plant will use the newest combined cycle gas turbine technology to burn gas from the country’s gas reserves.
The 253-MW expansion project is being funded by a €264mn ($292.6mn) debt financing package provided by the International Finance Corporation (IFC), the African Development Bank (AfDB), the West African Development Bank (BOAD) and the OPEC Fund for Interna- tional Development (OFID).
It is also backed by a group of European development finance institutions (EDFIs) that includes France’s PROPARCO, Belgium’s BIO, Germany’s DEG, the Netherlands’ FMO and the Emerging Africa Infrastructure Fund (EAIF).
“The Azito Phase IV tariff will be the low- est-cost thermal power in Côte d’Ivoire and we look forward to providing the region with reli- able, cost-effective environmentally sustainable energy in co-operation with CI-Energies and the State of the Republic of Côte d’Ivoire,” said
Globeleq CEO Mike Scholey.
“The Azito Power plant Phase IV expan-
sion is a testimony to the renewed trust given to IPS(WA) by the State of the Republic of Côte d’Ivoire and the lenders, where the aggregate contribution is now close to $750mn. It allows IPS(WA) to underpin its role as a contributor in the development of Côte d’Ivoire and in the sub-region,” said Mahamadou Sylla, CEO of IPS (West Africa).
Construction has already started, with first power expected in 2020. All electricity will be sold to the State of Côte d’Ivoire under a 20-year concession agreement.
French IPP Eranove is also developing gas- fired capacity in Côte d’Ivoire at the greenfield 390-MW Atikou project, which will feature a 255-MW gas turbine and a 135-MW steam turbine.
Atikou has received €100mn from the AfDB, while the Azito expansion has received €50m from the bank.
Globeleq also announced this week that it had signed a joint development agreement (JDA) with the Togolese government to build a 24-30- MW utility-scale renewables project, utilising either hydro, solar or storage technology, or a combination of all three. The PPP (public-private partnership) project forms part of the country’s National Development Plan 2018-2022.
Globeleq at present operates 1,300 MW of both fossil fuel and renewable capacity at eight locations across Africa.™
Total postpones drilling offshore South Africa
SOUTH AFRICA
FRANCE’S Total has pushed back the start date for drilling work on a new well at Block 11B/12B offshore South Africa.
The French company had originally planned to spud the Luiperd-1 well in the first quarter of 2020. Earlier this week, though, it said in a state- ment that it would begin drilling sometime in the second quarter.
Total did not reveal the reasons for the post- ponement. But Canada-based Africa Energy, the part-owner of a minority shareholder in the Block 11B/12B project, indicated that the change was related to scheduled maintenance work on Deepsea Stavanger, the semi-submersible rig that will be used for drilling work at the licence area.
Total used the same rig to drill
Brulpadda-1AX, where it reported the discovery of commercial reserves of light crude oil and gas condensate in February 2019.
In a separate statement, Africa Energy said Total and its partners had concluded a multi-well contract with Odfjell Drilling, the owner of the Deepsea Stavanger, last July.
“The rig is currently under contract drilling production wells for AkerBP in the North Sea.
After the rig is released by AkerBP, it is expected to spend approximately two weeks at the Semco Maritime shipyard in Bergen, Norway for maintenance and modifications before mobilising to South Africa,” it explained. “According to the updated rig release schedule, the Luiperd-1 well is expected to spud in the second quarter of 2020.” Africa Energy also
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w w w. N E W S B A S E . c o m Week 03 23•January•2020