Te Oil-Fired Power Plant

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The project entails the development and operation of a 50 MW oil-fired power plant in Conakry. The project is led by Tè Power Company, which a project company owned by Endeavor Energy (Endeavor), as the lead developer and majority owner (96%) and Energie AG holds the remaining 4% stake. The plant’s construction is expected to take 15 months, coming online in mid-2019. The project benefits from a five-year power purchase agreement with state utility Electricité de Guinée. The $121 million investment required for the Tè Project comprises $32 million in equity from Endeavor and Energie and $89 million in debt financing from the Overseas Private Investment Corporation (OPIC) ($50 million) and CDC Group PLC (CDC) ($39 million). In addition, OPIC provided up to $30 million of political risk insurance. Financing closed on March 27, 2018. https://ijglobal.com/data/transaction/41172/te-oil-fired-power-plant-50mw https://www.denhamcapital.com/news-article/endeavor-energy-achieves-financial-close-on-121-million-te-power-plant-in-guinea