Globeleq and Industrial Promotion Services (West Africa) announced on 22 February that they had reached financial close on the 253MW expansion of the Azito gas power plant in Côte d’Ivoire. The plant currently has 460MW and following the expansion, know as phase IV, Azito will account for around 30% of the country’s installed capacity. Construction has already begun and first power is expected this year.
Azito Phase IV will add a 181MW gas turbine and 72MW steam turbine to the plant, operating in combined cycle. Project company Azito Energie SA signed an amended 20-year concession agreement with the Ivorian government in March last year. In June, Cobra Energy announced that it had been awarded the engineering, procurement and construction contract and given limited notice to proceed.
The €264m debt package for the expansion project is being funded by a number of multilateral development banks – the World Bank Group’s International Finance Corporation, the African Development Bank, the West African Development Bank and the OPEC Fund for International Development – as well as a pool of European development finance institutions comprising France’s Société de Promotion et de Participation Pour la Coopération Economique, the Belgian Investment Company for Developing Countries, Germany’s DEG, the Netherlands’ FMO and the Private Infrastructure Development Group’s Emerging Africa Infrastructure Fund.
“The Azito Phase IV tariff will be the lowest cost thermal power in Côte d’Ivoire and we look forward to providing the region with reliable, cost-effective, environmentally sustainable energy in cooperation with CI-Energies and the state of the Republic of Côte d’Ivoire”, recently appointed Globeleq chief executive Mike Scholey said.
Azito was the second independent power producer to be built in Côte d’Ivoire and was developed over three phases. It uses two 144MW Alstom GT13E2 gas turbines, two heat recovery boilers and a 138MW GE steam turbine with condenser. General Electric (GE) completed an MXL2 upgrade on two turbines in 2019, increasing capacity by 30MW. The company also signed a contract with Azito to deploy its Predix Asset Performance Management software for two of the turbines and two generators at the Azito III site.
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