CG Togo

completed

_x000C_ContourGlobal Togo S.A. (the “Company” or “CG Togo”) is the local subsidiary of ContourGlobal which develops and operates electric power and district heating businesses around the world. CG Togo has entered into a 25-year concession and power purchase agreement to develop, construct and operate a 100 MW thermal power plant on a brown-field site in Lomé, Togo (the “Project”). The Project will be the first substantial foreign investment in Togo in over a decade and will be one of the most significant investments in the West African power sector in over twenty years. CG Togo will be capable of producing up to ~780 gigawatt hours (GWh) of electricity per annum which it will sell to the Togolese electric distribution company, Compagnie Energie Electrique du Togo (CEET). Construction began in May 2009 and is expected to be completed and operational in April 2010. The plant will be powered by six Wärtsilä 18V50DF engines (16.6 MW each), with tri-fuel burning capability to operate on natural gas (NG), heavy fuel oil (HFO), and distillate diesel oil (DDO). HFO will be the primary source of fuel until NG becomes available via the West African Gas Pipeline. In December 2008, the Overseas Private Investment Corporation (OPIC) signed a US$146 million non–recourse loan agreement with CG Togo. Financial closing was reached in May 2009. IFC is considering a 20% equity stake in the project.