Malicounda, Senegal

Africa50-Project Finance

Malicounda is a 120 MW combined cycle thermal power plant under construction in Malicounda, 85 kilometres from Dakar, designed to produce at least 956 GWh of power a year. It is designed to initially run on fuel oil but is expected to be converted to natural gas when this becomes available from local fields.

The electricity generated will be sold under a 20-year PPA and fed into the network through an existing distribution substation. 

Africa50's Role

Africa50 worked with Senelec (the Senegalese utility) to select a strategic partner (Melec PowerGen). The consortium of sponsors is currently securing debt financing. 


Africa50, Senelec and Melec PowerGen
The African Development Bank is the Mandated Lead Arranger

Development impact

  • The plant is expected to increase generating capacity in Senegal by about 17%, while reducing generation costs by about 14%.
  • If the savings are passed on to consumers, this could result in a 3-7% fall in tariffs and a 1-3% rise in GDP.
  • About 150 jobs should be created during construction.
  • The additional energy is expected to increase production in the country, potentially adding up to 76,000 jobs in the long-term. 


  • The plant is expected to help satisfy base loads, facilitating the integration of intermittent
    renewable power into the country’s network.
  • This type of combined-cycle power plant produces lower output at higher efficiencies (up to 55%), with lower emissions than the older open-cycle plants presently being used, which dissipate as much as 67% of potential power as waste.
  • Emissions are expected to be below IFC guidelines.
  • When converted to gas, the plant will form part of the shift of Senegal’s energy mix to renewables and natural gas from diesel.

Project Photos

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