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Wednesday, July 1, 2015
Azito Energie saw the commercial start-up of Phase 3 of its 430-MW combined-cycle gas turbine (CCGT) Power Plant in Cote d’Ivoire’s Abidjan. The start-up of Phase 3 was celebrated with an onsite inauguration ceremony attended by the country’s president, Alassane Ouattara.
Azito is now one of the most modern, efficient power plants in West Africa and will provide 25% of Cote d’Ivoire’s current total electricity capacity. The plant also adds 10% more affordable and reliable electricity to the country.
Including the recent capacity expansion the total investment in the Azito Power Plant amounts to $615 million. Phase 3 was financed by shareholder equity, and loans from international and bilateral development agencies.
Hyundai Engineering and Construction Co Ltd, the EPC contractor, completed the expansion earlier in 2015. During the peak of construction, the plant’s expansion created more than 1,300 jobs of which more than 60% were met by local employment.
CEO of Globeleq, Azito’s major shareholder, Mikael Karlsson, commented: “This clearly demonstrates what can be achieved when governments, the international financing community and the private sector act in close cooperation to develop sub-Saharan Africa’s energy sector. Azito provides a blueprint for the development and financing of similar power projects, both in Côte d’Ivoire and West Africa as a whole.”
Luc Ayé, Azito’s CEO said: “The scale of this power plant is indicative of the Government’s ambitions for Côte d’Ivoire. I would like to thank the Prime Minister and the Minister of Petroleum and Energy, our shareholders -Globeleq and IPS WA, a subsidiary of the Aga Khan Funds for Economic Development, AKFED – and financial partners for sharing our vision and ambition in bringing such a landmark power project to fruition, not forgetting the entire project team.”
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