GuarantCo backs 65MW Kekeli power financing
GuarantCo has provided a XOF14.2 billion ($23.8 million) liquidity extension guarantee to help finance construction of a 65MW natural gas-fired thermal plant and related infrastructure in the port area of Lome, Togo. The guarantee will enable local commercial banks in Togo, including Orabank, to provide a 14-year tenor loan to French industrial group Eranove for the project.
The Kekeli Efficient Power Project is split into two phases: the first phase, expected to be operational in the third quarter of 2020, is to construct a thermal plant using a SGT 800 gas turbine with a first phase open cycle capacity of 47MW. The second phase, expected to be operational in the third quarter of 2021, will include a steam turbine, adding 18MW with an estimated annual production of 526GWh, turning the plant into a combined cycle plant.
A 1km transmission line, which will have to be developed to connect the power plant to the Lome Port sub-station, will be operated and maintained by the Togo Electricity Company (CEET). CEET will also supply the natural gas through the West African Gas Pipeline Company, as the main fuel, to the plant.
