Togo Electricite

cancelled

In September 2000, Togo Electricite (TE) signed a 20 year concession with the Government of Togo to run the state owned vertically integrated power utility, Compangnie Energie Electrique du Togo (CEET). CEET was the sole distributor of electricity in Togo. Before the handover, CEET had an annual turnover of US$38.3 million, 87,375 subscribers across the country and production capacity of about 35 MW. TE took over the operations of CEET on December 1, 2000. Elyo, a subsidiary of France’s Lyonnaise des Eaux (later renamed Suez), won the international tender by offering the highest evaluated bid (US$31.7 million). Elyo established Togo Electricite to implement the concession. France’s Vivendi and Saur also participated in the tender. TE was initially capitalized at US$4.0 million. TE committed to pay off CEET’s debts of 7.5 billion CFA francs (US$10.53 million) to CEB, the joint generation and transmission utility for Benin and Togo, and also pay 350 million CFA francs (US$0.49 million) annually to the electricity regulator. TE also committed to invest US$36 million during the first five years of the concession. In 2006, after several months of fruitless negotiation, France’s Elyo group broke off an agreement between Togo Electricite, its wholly owned affiliate, and the government on Feb. 22 and liquidated Togo Elecricite. The operations of Togo Electricite have been taken over by Compagnie d’Electricite Togolaise. Source - Said Mikhail, Power Engineer for Togo