Genesis Energy Holding (“Genesis”), a Mauritian company based in London, announced the launch of a 360MW multiple gas fired power project valued at US$190 million. The project will commence with a 120MW power plant capacity and will be based on a long term Power Purchase Agreement (PPA) without financial contributions from the government of Benin. The power plant should eventually provide over 30% of the Republic of Benin’s current electric power supply capacity. The electricity produced will go directly to the National Grid of Benin, under the administration of the Société Beninoise d’Energie Electrique (“SBEE”) for distribution across the country, including households, industries, commercial enterprises and all other classified customers of the SBEE.
The project is being jointly implemented by Genesis, in partnership with General Electric, Cummins Co-Gen UK and Engro Corporation, all of whom are in long term strategic partnerships with Genesis.
The project is being jointly implemented by Genesis, in partnership with General Electric, Cummins Co-Gen UK and Engro Corporation, all of whom are in long term strategic partnerships with Genesis.
Genesis has successfully integrated operations across the industry value-chain of Oil, Gas and Power in various African countries.
Genesis was represented by Abayomi Akinjide (corporate), and included Angela Onesi (project finance), Youssef Fichtali (corporate), Karim Maalioun and Laura Bradley.
