Petroleum Africa
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Thursday, March 24, 2016
Endeavor Energy is looking to secure financing for a project in Cote d’Ivoire by the end of 2016. The company needs to secure financing for the $900-million gas-fired power plant project that will be crucial in helping the West African nation in meeting its electricity demands.
The company plans to operate a terminal that will import LNG to fuel a power plant that when fully operational will produce 1,200 MW.
Endeavor will provide the equity capital with backing from energy and resources-focused private equity firm Denham Capital, as well as additional funding from multi-lateral institutions.
Endeavor has secured a provisional agreement with Royal Dutch Shell to take seven to eight cargoes per year of LNG in the first phase of the project, which will be increased as power output capacity rises.
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