The developers and investors in Albatros Energy Mali SA, the company that will build, own and operate the first independent power project in Mali, are proud to announce the financial close and the imminent start of the construction of a 90 MW Thermal Power Plant in Kayes, Mali.
Albatros Energy Mali SA has contracted with the leading Danish power plant construction company Burmeister & Wain Scandinavian Contractor (BWSC) to build a highly modern and Mali’s largest and most efficient thermal power plant in a record time of 16 months. Once operational, power will feed into the national grid and will be sold to Mali’s national utility, Énergie du Mali (EDM), through a 20-year power purchase agreement.
The power plant, which is composed of six (6) medium speed, highly efficient, 15 MW engines, will produce a guaranteed minimum of 578 GWH of electricity per year while respecting the latest international environmental guidelines. The power plant will operate on a base load basis, increasing significantly Mali’s total installed production capacity along with providing a constant supply of much needed reliable electricity.
Redox recently welcomed African Infrastructure Investment Managers (‘AIIM’), Burmeister & Wain Scandinavian Contractor (‘BWSC’) and Denmark’s Investment Fund for Developing Countries (‘IFU’) as co-shareholders in Albatros Energy Mali SA. Together the shareholders will provide 30% of the total project costs in the form of equity. The remaining 70% is financed by the West African Development Bank (‘BOAD’), the Islamic Development Bank (‘IDB’), the Islamic Corporation for the Development of the Private Sector (‘ICD’), the OPEC Fund for International Development (‘OFID’), GuarantCo and the Emerging Africa Infrastructure Fund (‘EAIF’). The latter also provided a grant that helped funding a part of the project development costs.
Amadou Sow, Chairman of Albatros Energy Mali and Redox Power Solutions said:
“Today is a big day for Mali and an even bigger day for its private sector. Redox Power Solutions, a privately owned company, has proven its ability to develop a project of this magnitude. The realization of this first IPP project proves that Mali is ready and capable to forge its own destiny and to trust its local entrepreneurs with the structuring, development and implementation of strategic homegrown PPP projects ”
Koen Beckers, CEO of Albatros Energy Mali’s and Redox Power Solutions said:
“We are excited to be able to provide reliable and affordable electricity access for Mali’s citizens and to contribute to the development of the rapidly growing Malian economy. We are convinced that the Redox Power Solutions team’s intense development efforts of the last years, will be a catalyst and incentive for future public private partnership of structured power projects and other infrastructure projects in Mali”
Jurie Swart, AIIM’s CEO said:
“This exciting new thermal project, the first IPP to connect to the national grid, will provide a much needed sustainable energy source allowing increased access to electricity for Mali’s growing population and enabling industry to grow. We look forward to working together with our stakeholders in making a beneficial contribution to Mali’s power sector and supporting the Government in its sustainable development and poverty reduction efforts.”
Tommy Thomsen, CEO of IFU said:
“One of the greatest barriers to growth and development in Africa is the lack of power and this applies in particular to Mali. We are therefore very pleased to be able to contribute to the development of the electricity supply and thus the economic progress in the country.”
Anders Heine Jensen, CEO of BWSC said:
”In Mali, less than 30% of the population has access to electricity, and the power supply from the new power plant will be a significant catalyst for growth and development in the country. After years of intense efforts, we are very pleased and very proud to be part of and contribute to this positive development for Mali and not least the Malian people.”
Along with providing reliable energy, Albatros Energy Mali is also committed to support local communities by taking on a number of social initiatives in the field of maternal & child healthcare, job creation and education.
Redox Power Solutions is a privately owned, entrepreneurial driven, developer of independent power plant projects with a focus on French speaking West Africa.
The company’s owners have a proven track-record of initiating and implementing ground breaking projects in challenging environments.
Koen Beckers, CEO, Redox Power Solutions
Tel.: +223 20 22 80 97 Mob.: +223 95 73 27 74
AIIM, a member of Old Mutual Alternative Investments, have been investing in the African infrastructure sector since 2000 with a track record extending across seven African infrastructure funds. AIIM currently manages USD1.9 billion in assets across the power, telecommunications and transport sectors with operations in 11 countries across East, West and Southern Africa. AIIM’s power portfolio extends across renewable energy and thermal power assets with a combined generation capacity of over 2,250 MW.
Jurie Swart, CEO, AIIM
Tel.: +27 21 670 1234
IFU – The Danish Investment Fund for Developing Countries provides risk capital and advice to companies wishing to set up business in Africa, Asia, Latin America and parts of Europe. Investments are made on commercial terms in the form of equity and loans. The purpose is to promote economic and social development in the investment countries. IFU acts as fund manager for amongst other the Danish Climate Investment Fund and the Danish Agribusiness Fund. For more information, see www.ifu.dk.
Tommy Thomsen, CEO, IFU
Tel.: +45 3363 7500
Burmeister & Wain Scandinavian Contractor A/S (BWSC) is a Danish engineering and contracting company which develops, builds, operates and owns high-performance engine-based and boiler-based power plants. The majority of the projects are supplied as turnkey plants, and BWSC has delivered more than 180 power plants to 53 countries worldwide with a total capacity of more than 3,500 MW. In 2016, BWSC had a turnover of EUR 395 million, and the order backlog amounted to EUR 898 million at end-2016. BWSC originates from the stationary engine division of Burmeister & Wain (B&W), which has built and installed diesel engines since 1904. BWSC was established as a separate specialist company in 1980 and was acquired by Japanese Mitsui Engineering and Shipbuilding Co. Ltd. in 1990.
Anders Heine Jensen, CEO, BWSC
tel.:+45 48 14 00 22