13 February 20223 - The President of Senegal, H.E Macky Sall inaugurated the 120 Megawatts power plant in Malicounda on Saturday, which was co-developed by Africa50, Melec PowerGen (MPG), and the national utility company Senelec.
The Malicounda power plant will increase Senegal’s generation capacity by 8% and will substantially reduce generation costs. It is designed to convert to the use of natural gas as soon it comes on stream from domestic fields which are currently under development, which will shift Senegal’s energy mix to cleaner fuel.
Speaking at the inauguration ceremony, H.E President Macky Sall said, “The Malicounda Power Plant is a historic project accomplished under a Public-Private Partnership that will reduce electricity costs for the people of Senegal. It supports our goal to ensure universal access to electricity for our people and a balanced energy mix through gas-to power feature of this project. I want to convey a special thank you to Africa50 for trusting Senegal with this important project”.
The plant, which started operations in August 2022, was financed through equity and senior debt provided by the African Development Bank (AfDB), the OPEC Fund for International Development (OPEC Fund), the Arab Bank for Economic Development in Africa (BADEA) and Banque Ouest Africaine de Developpement (BOAD) as senior lenders following a prior EUR 75 million bridge financing arranged by Orabank Sénégal.
On the occasion of the ceremony, Tshepidi Moremong, Chief Operating Officer of Africa50 said, “Africa50 is pleased to have acted as a convener, bringing together strategic partners to deliver such an important project that will support the economic development of Senegal. The Malicounda Power Plant is Africa50's second major investment in the power sector in Senegal and we will continue working closely with the Government and private sector partners to deliver strategic high-impact infrastructure projects”.
The €154m plant was developed by MP Energy, acting on behalf of the main sponsor Melec PowerGen (MPG) following a call for tenders issued by Senelec, a power generation platform focusing on sub-Saharan Africa; Africa50, the pan-Africa infrastructure investment platform; and Senelec, the national utility company of Senegal.
Samer Nasr, the CEO of MPG and founder of MP Energy, commented, “The plant has the best technology available and it is one of the most efficient power plants. Despite the challenges and the Covid-19 pandemic, we still managed to develop the project in record time. The completion of the project means more reliable and cheaper electricity and it could bring energy to a quarter of the Senegalese population”.
Papa Mademba Bitèye, Senelec's General Manager, added, “This project is evidence of the vision of His Excellency the President Macky Sall which will now bring reliable power to the people of Senegal. The partners and the great support and expertise of the Senelec staff and the Ministry of Petroleum and Energy have been critical to bringing this project to fruition”.
The inauguration of the Malicounda Power Plant was attended by Ministers of state, members of the diplomatic corps, as well as key partners of the project.
Africa50 is an infrastructure investment platform that contributes to Africa's growth by developing and investing in bankable projects, catalysing public sector capital, and mobilizing private sector funding, with differentiated financial returns and impact. Africa50 currently has 33 shareholders, comprised of 30 African countries, the African Development Bank, the Central Bank of West African States (BCEAO), and Bank Al-Maghrib. For more information, visit: www.africa50.com.
Africa50: Nana Boakye-Yiadom, Senior Communications Coordinator, Tel: +212666166308, firstname.lastname@example.org
Category: Press Release