Financial Close for Songon Power Project in Côte d’Ivoire in Q3 2016

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Financial Close for Songon Power Project in Côte d’Ivoire in Q3 2016

Endeavor Energy, a power development and generation company in Africa, has recently announced it has significantly advanced in the process of the Songon Power Project, in Côte d’Ivoire. Endeavor Energy is developing the project with local independent power producer Starenergie 2073 and it plans a financial close by the end of the year.

The Songon Power Project is a 1,200 MW multi-phase combined cycle power generation project with an integrated fuel solution. The facilities comprises a purpose-built liquefied natural gas (LNG) import infrastructure and a floating storage and re-gasification unit (FSRU). The first phase involves the development of about 375 MW. 

The advancements are related to local environmental approvals obtained and advanced discussions underway with the Government of Cote d’Ivoire on the importation of liquefied natural gas (LNG) for the project. 

The transmission line and LNG infrastructure is scheduled to be completed by the second quarter of this year. Endeavor will issue a request for proposals (RFP) to provide engineering, procurement and construction (EPC) for the project before the end of the first quarter of this year.

Endeavor, which will own a majority of the project equity, will provide construction management, fuel management, and commercial management services

Sean Long, CEO of Endeavor, said:

“Côte d’Ivoire under the leadership of President Ouattara is doing exceptionally well and has created a very attractive investment climate for private investment. We are extremely excited about the Songon Project, which will add much needed generation capacity to the country’s IPP thermal fleet as well as provide reliable fuel supply for the project.”

Amadou Ba, Managing Director at Endeavor Energ, added:

“Endeavor is pleased to have significantly progressed the Songon Power Project. While Côte d’Ivoire’s efforts to bolster its power generation capacity have made it a leader amongst its Sub-Saharan African peers, we understand that the country needs projects like Songon which will utilize an environmentally friendly energy source to maintain this position and help further propel its rapidly growing economy.”

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