Cap des Biches Oil-Fired Power Plant II

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The project envisages the development of a 33-MW power facility adjacent to the 52.9-MW Cap des Biches I, thus rendering the total output to 85.9 MW. The power plant is located at the site of Cap des Biches in Rufisque, 23 km east of Dakar, Senegal. Once it starts operating, the project should be one of the most efficient thermal power plants in Senegal and will help meet the country’s growing electricity demand. CG Cap Des Biches Senegal ("project company") is undertaking the project, promoted by a sole sponsor - ContourGlobal. Senegal’s utility, SENELEC, will offtake electricity from the project under a 20-year PPA. Project company reached financial closure for the plant on January 13, 2017 after securing debt funding from OPIC for $37.7 million. The total project cost is estimated at about $51 million (EUR 48 million). Debt to equity ratio is 74:26. https://disclosures.ifc.org/#/projectDetail/SII/38113 https://ijglobal.com/data/transaction/36141?name=Cap%20des%20Biches%20Oil-Fired%20Power%20Plant%20(33MW)%20Phase%20II&link=%2Farticles%2F102415%2Fopic-signs-cap-des-biches-ii-debt