Senegalese energy company West African Energy and multilateral financial institution African Finance Corporation (AFC) have signed a $349 million financing deal for the 300 MW Cap des Biches gas-fired power plant in Senegal.
Located in the Rufisque commune, 20km from the capital city of Dakar, the Cap des Biches power plant will transition from the combustion of heavy fuel oils to natural gas by mid-2023, which will be sourced domestically from the country’s Greater Tortue Ahemyim and Yakar-Teranga offshore gas fields, which contain a combined 35 trillion cubic feet of natural gas.
Additionally, the power plant will cover an area of 10 hectares and will have a power generation capacity of 2.39 TWh per year, powering 500,000 Senegalese homes while meeting 25% of the net domestic demand with electricity output exported via a 90 kV underground power transmission line.
Having started construction in March 2021, the Cap des Biches power plant was financed by the AFC; Burkina Faso-based financial institution, Coris Bank International; and other financial institutions, including pan-African multilateral trade institution Afreximbank.