CdB Gas Convers.

pending

The proposed investment is a secured financing debt package to Cap des Biches (CdB or the Company) to: (i) finance the conversion capex of the plant from Heavy Fuel Oil (HFO) to Liquified Natural Gas (LNG) and (ii) refinance CdB’s outstanding debt (the “Project”). Since 2016, Cap des Biches (CdB) operates an 86 MW Heavy Fuel Oil (HFO) Independent Power Producer (IPP) located in an industrial zone in Rufisque, Senegal. CdB is part of the ContourGlobal (CG or the “corporate”), a UK based power company. The current project consists of converting the plant's five engines from HFO to dual-fuel capability using LNG. This project is part of Senegal’s Gas-to-Power strategy. LNG will be supplied through the main pipeline connecting Dakar Port to the Cap des Biches area. The main pipeline, currently under construction by a private company, will deliver gas to various industries in that area. CdB is expected to use about 20% of the LNG supplied during the first year of the pipeline’s operation, decreasing to 10% as more industries in the region transition to LNG. A dedicated 300m pipeline will be built to connect the plant to the main LNG pipeline. This 300m pipeline is considered an associated facility and will be constructed on adjacent land owned by SENELEC, Senegal’s national utility authority. The engine conversion will primarily involve replacing parts within the existing equipment. The construction phase is expected to last approximately six months, starting in Q1 2026, and will be carried out by Wartsilla, the Engineering and Procurement Contractor (EPC) and engine manufacturer.The plant is located in an industrial zone and there is a neighbouring gas power plant currently under commissioning and in vicinity of other industries. Electricity from the plant is transmitted through an existing overhead transmission line. The nearest community is located at about 500m from the CdB plant.