The financing of an amount of 65 billion FCFA, mobilized at 100% by these African financial institutions, was gathered through the arrangers BOAD and Oragroup from institutional and commercial lenders of the place (BOAD, AFC, Orabank Togo, BIA Togo, NSIA Benin and Banque Atlantique Togo), thus helping to boost the growing regional financial market.

Lomé, November 20, 2019. The West African Development Bank represented by its President Mr. Christian ADOVELANDE, together with several financial institutions signed the loan agreement relating to the financing of the 65 MW combined cycle thermal power plant which will be operated by the KEKELI POWER SA company in Togo.

The purpose of the project is to build a combined cycle thermal power plant with a power of 65 MW, including 47 MW for the SIEMENS SGT-800 (TAG) type gas turbine and 18 MW for the steam turbine (TAV). connected to a recovery boiler.

For BOAD, this project is in line with the strategy for the sustainable resolution of the energy crisis in UEMOA entitled IRED, which aims at the start of 2030, that all citizens of the Union have access to a low-cost energy, within a large integrated and harmonized West African electricity exchange market, producing clean energy and relying on a dynamic public-private partnership .

It is also part of a logic of reducing greenhouse gas (GHG) emissions due to the choice by the promoter of a clean technology (combined cycle) which emits 30% less CO2e compared to the cycles. open (i.e. around 100,000 t CO2e / year less compared to Gas Turbines). In addition, as part of the management of impacts, it is planned to offset carbon emissions by reforestation measures in Khaya senegalensis.

BOAD supported the realization of this operation under two axes of intervention: (i) as a direct lender with the establishment of a loan in the amount of twenty-five (25) billion F CFA in favor of the company KEKELI EFFICIENT POWER SA and (ii) as co-arranger of financing with the participation of Oragroup and African Financial Corporation (AFC). This is a first in the area, with more than 70% of the debt raised in FCFA over a 14-year maturity.

This assistance brings to CFAF 630.3 billion, the overall volume of BOAD commitments in Togo, including CFAF 189.7 billion for private sector financing.

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