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Focus Sectors & Criteria
We prioritize investment in the power, ICT, transport, and midstream gas sectors.
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Investment Vehicles
Bringing project development and financing together in one organization, Africa50 seeks to provide support at every stage of the project cycle.
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Innovation Challenge
Join Africa50 in finding innovative solutions to respond to Africa’s most critical and pressing infrastructure challenges.
Senegal
Africa50-Project Finance
Base load power plant platform with currently one operating asset, Tobene power plant. Common and preferred equity investment in a power plant platform. The platform currently owns one asset in Senegal, Tobene Power, a 115 MW heavy fuel oil (convertible to gas) power plant under a 20-year PPA with Senelec, IFC, FMO, Emerging Africa Infrastructure Fund, and the West African Development Bank providing project debt funding.
Africa50's Role
Equity investment.
Partners
Melec PowerGen (MPG) and Senelec
Development Impact
- The power platform’s current and prospective assets are located in Senegal. MPG assets provide significant baseload generation capacity at competitive tariffs that help close the electricity supply gap.
Environment
- MPG assets have been designed for conversion to natural gas input fuel, which advances progress towards cleaner fuel inputs.
Employment
Ongoing operations from MPG’s assets will continue to support local employment, tax revenues, and purchase of local goods and services - all of which contribute to labour output