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Private equity investor Denham Capital on 27 March announced that Tè Power Company (TPC) had reached financial close for the $121m Tè project and begun construction of the 50MW greenfield thermal power plant in Conakry. Financial close of the project’s $89m debt financing took several months longer than expected, reflecting the complexities of launching Guinea’s first independent power project to be project financed by a development finance institution (DFI).