SENEGAL – Barak Fund Management, the Senegalese government and state-owned power utility Senelec, have announce that the first power from this national power asset, Sendou power plant, has been delivered
The generation of first power from Sendou will help transform the energy market in Senegal and is an important step in moving the country away from its current reliance on expensive fuel oil power.
The 125MW power project represents the largest power plant in Senegal as well as the lowest cost provider of power. As the country moves away from heavy fuel oil, power generated at the Sendou project will be critical.
Papa Madembe Biteye, Director General and Chief Executive Officer of Senelec said that the project was testament to the perseverance and commitment of the parties working on the power station.
“Sendou is a critical national asset for Senegal. It shows that by bringing the right mix of skills, capital investment and project management together, we can deliver high value projects that benefit our country and our economy,” said Papa Madembe.
Meanwhile, with Senegal pursuing a transition towards a clean energy future, a third-party strategic partner will help convert the power plant to a gas-fired power facility in the future.
As Senegal monetizes its significant natural gas resources through projects such as the Grand Tortue Ahmeyim project, the power plant will be instrumental in future gas-to-power solutions for the country.
In response to sub-Saharan Africa’s growing demand for new oil and natural gas, and renewable energy projects, and increasing interest from international stakeholders to invest, develop, and succeed on the continent, Energy Capital & Power will hold the MSGBC Oil, Gas, & Power 2021 conference and exhibition on 16-17 December 2021.
Focused on enhancing regional partnerships, spurring investment and development in the oil, natural gas and power sectors, the conference will unite regional international stakeholders with African opportunities, serving as a growth-oriented platform for Africa’s energy sector.
Barak CEO Jean Craven said the project proved that Barak can manage the complexity of turning around infrastructure projects in Africa, and working with multiple parties to realise value.
“Barak began life as a private credit fund, but has turned around Sendou after taking over the collateral and stepping in as a shareholder. We have shown that we have the knowledge, perspective and endurance to realise value from even the toughest projects,” Jean added.
“Against the prevailing market consensus, Barak got an operator on board and turned the project around. We are delighted that the people of Senegal and the investors in the country will see the benefits of affordable baseload power.”
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