OPIC signs financing for Cap des Biches expansion
The Board of Directors of the Overseas Private Investment Corporation (OPIC) has approved the support of the 33 MW expansion and development of the existing 52.9 megawatt combined-cycle thermal power plant located in Cap des Biches, Senegal.
More concretely, OPIC has signed up to $53 million in financing and $18.2 million in insurance to ContourGlobal Cap des Biches Senegal.
This OPIC supported project will provide efficient and reliable electricity to the Senegalese grid by adding a total of 86 megawatt generation capacity, approximately 30 percent increase in overall functioning capacity, contributing greatly to solve the problem of electricity shortages in Senegal.
The existing plant is designed, built and operated by ContourGlobal, a US-based power projects developer.
In early December we reported that the International Finance Corporation (IFC), a member of the World Bank Group, and the OPIC signed financing agreements for the 53 megawatt Cap des Biches power plant .
Country news
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May 25, 2016
Proparco finance Meridiam’s solar project in Senegal
Proparco allocated a €34.5 million loan with an 18-year maturity to finance the construction and operation of a photovoltaic solar power plant in Senegal. Read more -
February 11, 2016
Senegal Is second African country to join WB’s Scaling Solar program
The International Finance Corporation (IFC), a member of the World Bank Group, has signed an agreement with the government of Senegal to develop up to 200 megawatts of solar power under Scaling Solar, a World Bank Group initiative helping African countries procure renewable energy quickly and affordably. Read more -
December 02, 2015
IFC, OPIC finance Cap des Biches 53 MW power plant in Senegal
The International Finance Corporation (IFC) and the Overseas Private Investment Corporation have signed financing agreements for the 53 megawatt Cap des Biches power plant. Read more -
August 20, 2014
ContourGlobal to build, own and operate power facility in Senegal
ContourGlobal, an international power generation company, announced on Monday that it has signed an agreement with the Senegalese national utility, Société Nationale d’Electricité du Sénégal (SENELEC), to rehabilitate an existing brownfield site and construct a new 53 MW thermal facility under a 20-year Power Purchase Agreement (PPA). The new facility is designed to burn heavy fuel oil and natural gas and when completed in 2015 will be the lowest cost liquid fuel and natural gas-fired power plant in Senegal. Read more -
September 02, 2014
World Bank Group Finances 96 MW Tobene Power Plant in Senegal
In early August, the World Bank Group signed agreements for the Tobene Independent Power Project in Taiba Ndiaye in Senegal. These included a €93.4 million financing agreement arranged by IFC and a $40 million equivalent IDA partial risk guarantee project agreement. The project will provide power to over one and half million residents in Senegal. Read more
