Senegal
Africa50-Project Finance
Africa50’s first investment through a baseload power platform called Azura Power Limited (APL). Tobene Power is a 115 MW combined cycle heavy fuel oil plant based in Senegal which was acquired from Melec Power Gen (MPG). The asset is convertible to gas and has a 20-year power purchase agreement with Senelec. The senior lenders pool includes the IFC, FMO, the Emerging Africa Infrastructure Fund, and the West African Development Bank.
Impact
Development
- The power platform’s current and prospective assets are located in Senegal. MPG assets provide significant baseload generation capacity at competitive tariffs that help close the electricity supply gap.
Environment
- MPG assets have been designed for conversion to natural gas input fuel, which advances progress towards cleaner fuel inputs.
Employment
- Ongoing operations from MPG’s assets will continue to support local employment, tax revenues, and purchase of local goods and services - all of which contribute to labour output.
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Focus Sectors & Criteria
We prioritize investment in the power, ICT, transport, and midstream gas sectors.
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Investment Vehicles
Bringing project development and financing together in one organization, Africa50 seeks to provide support at every stage of the project cycle.
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Innovation Challenge
Join Africa50 in finding innovative solutions to respond to Africa’s most critical and pressing infrastructure challenges.