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MoA Signed for Development of New Solar Projects
MoA Signed for Development of New Solar Projects.
About this update from Savannah Energy Plc
[{"type":"text","content":"\n\n11 May 2023\nSavannah Energy PLC\n(\"Savannah\" or \"the Company\")\nMemorandum of Agreement signed with the Government of Niger\n for the development of up to 200 MW of New Solar Projects\n \nSavannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter is pleased to announce the signing of a Memorandum of Agreement (\"MOA\") by Savannah Energy Niger Solar Limited, a wholly owned subsidiary of Savannah, with the Government of the Republic of Niger (the \"Government\") for the development of two solar photovoltaic power plants with a combined installed power generation capacity of up to 200 megawatts (\"MW\")(the \"Solar Projects\"). A signature ceremony was held yesterday in Niamey attended by His Excellency Ibrahim Yacoubou, Minister of State for Energy and Renewable Energies, Her Excellency Catherine Inglehearn, British Ambassador to the Republic of Niger, and Yacine Wafy, Savannah's Vice President West Africa.\nThe two proposed solar plants are expected to be located within 20 km of the cities of Maradi and Zinder, respectively, in southern Niger. Each plant is expected to have an installed capacity of between 50 and 100 MW, for a total potential installed capacity of up to 200 MW. The Solar Projects are expected to: generate reliable, affordable energy for Niger; increase overall grid connected power generation in the country by over 20%; and avoid an estimated up to 260,000 tonnes of annual CO2 emissions[1]. The Solar Projects are expected to be connected to the South Central section of Niger's electricity grid, which is forecast to be interconnected to the Western electricity grid zone (which serves Niamey) by 2026, as part of a World Bank funded project. Following the anticipated completion of the required project feasibility studies over the course of the next 12 months, the Solar Projects are expected to receive project sanction in 2024, with first power targeted in the 2025 to 2026 window.\nSavannah expects to fund the Solar Projects from a combination of its own internally generated cashflows and project specific debt.\n \nHis Excellency Ibrahim Yacoubou, Minister of State for Energy and Renewable Energies for the Republic of Niger, said:\n\"I am delighted to participate in today's signature ceremony for a Memorandum of Agreement with Savannah Energ...