Tè Power Company SASU announced it has completed the fund mobilization for the construction of Tè thermal power plant (50 MW) in Guinea Conakry.  During the operation, the company raised the $121 million needed to build the facility.

The resource includes $32 million in equity from Endeavour Energy (charged with the plant’s construction) and $89 million from Overseas Private Investment Corporation (OPIC) and CDC Group PLC (CDC). In addition, OPIC granted $30 million of political risk insurance.

The plant construction will last 15 months ending by mid-2019. It is expected to connect about 1,000,000 Guineans.

Let’s recall that Guinea’s current electrification rate is 30%.

Gwladys Johnson Akinocho