Savannah Energy Plc First Gas Sales to FIPL's Trans Amadi Power Plant (7146P)
June 22 2022 - 2:00AM
UK Regulatory
TIDMSAVE
RNS Number : 7146P
Savannah Energy Plc
22 June 2022
22 June 2022
Savannah Energy PLC
("Savannah" or the "Company")
First Gas Sales to FIPL's Trans Amadi Power Plant
Savannah Energy PLC, the British independent energy company
focused around the delivery of Projects that Matter in Africa , is
pleased to announce that Accugas Limited ("Accugas"), the Company's
80% indirectly owned subsidiary, has commenced gas sales to First
Independent Power Limited's ("FIPL") Trans Amadi power plant in
Port-Harcourt, Nigeria.
As previously announced in April 2022, Savannah executed an
addendum to its gas sales agreement with FIPL, allowing FIPL to
increase the quantity of gas purchased to up to 65 MMscfpd (from 35
MMscfpd) to allow supply to both its Trans Amadi and Eleme power
plants (as well as its Afam power plant). FIPL is an affiliate
company of the Sahara Group, a leading international energy and
infrastructure conglomerate with operations in over 42 countries
across Africa, the Middle East, Europe and Asia.
The FIPL Trans Amadi power plant has a power generation capacity
of 136 MW but its generation capacity had recently been limited due
to gas availability issues from its primary supplier. Savannah
commenced gas supply to the Trans Amadi power plant on 19 June
2022, which has allowed for the immediate resumption of power
generation and evacuation to Nigeria's National Grid.
Andrew Knott, CEO of Savannah Energy, said :
"I am very pleased to have commenced gas sales to the Trans
Amadi power station. I am proud of the key role we are increasingly
playing in providing power to Nigeria at this time. I would like to
thank our partners at Sahara for continuing to choose to work with
us and look forward to exploring further opportunities with them in
the future."
Kola Adesina, Group Managing Director, Sahara Power Group, said
:
" We are pleased to have achieved operationalisation of gas
supply to our Trans Amadi Plant sooner than anticipated and thank
Savannah for their continued support in ensuring that FIPL remains
committed to efficient power generation in Nigeria ".
For further information, please refer to the Company's website
www.savannah-energy.com or contact:
Savannah Energy +44 (0) 20 3817 9844
Andrew Knott, CEO
Nick Beattie, CFO
Sally Marshak, Head of IR & Communications
Strand Hanson (Nominated Adviser) +44 (0) 20 7409 3494
James Spinney
Ritchie Balmer
Rob Patrick
finnCap Ltd (Joint Broker)
Christopher Raggett
Tim Redfern +44 (0) 20 7220 0500
Panmure Gordon (UK) Ltd (Joint Broker)
John Prior
Hugo Rich
James Sinclair-Ford +44 (0) 20 7886 2500
Camarco +44 (0) 20 3757 4983
Billy Clegg
Owen Roberts
Violet Wilson
The information contained within this announcement is considered
to be inside information prior to its release, as defined in
Article 7 of the Market Abuse Regulation (EU) No. 596/2014, which
forms part of United Kingdom domestic law by virtue of the European
Union (Withdrawal) Act 2018 (as amended), and is disclosed in
accordance with the Company's obligations under Article 17 of those
Regulations.
About Savannah Energy
Savannah Energy PLC is an AIM quoted British independent energy
company focused around the delivery of Projects that Matter in
Africa and is active in Cameroon, Chad, Niger and Nigeria.
South East Nigeria Infrastructure Map
http://www.rns-pdf.londonstockexchange.com/rns/7146P_1-2022-6-21.pdf
Further information on Savannah Energy PLC can be found on the
Company's website: www.savannah-energy.com .
About the Sahara Group and First Independent Power Limited
Sahara Group is a leading international energy and
infrastructure conglomerate with operations in over 42 countries
across Africa, Middle East, Europe and Asia. The Group's affiliate,
Sahara Power Group ("SPG"), is the largest privately owned
vertically integrated power company in Sub-Saharan Africa, with
plans to expand its generation capacity to exceed 5,000MW by 2023.
The Sahara Group's portfolio includes Egbin Power Plc (the largest
privately owned thermal power plant in Sub Saharan Africa excluding
South Africa) and the Afam, Eleme, Omoku and Trans Amadi power
plants. The Sahara Group successfully acquired majority
shareholding stakes in two of the Power Holding Company of Nigeria
("PHCN") assets under the privatisation initiative of the Nigerian
Government, namely Egbin Power Plc and Ikeja Electric Plc (one of
the largest power distribution companies in Sub-Saharan Africa). In
addition, the Sahara Group through its affiliate, NG Power HPS Ltd,
acquired a 70% stake in First Independent Power Limited ("FIPL").
FIPL owns and operates four power plants privatised by Rivers State
in 2014, including the Afam, Eleme and Trans Amadi gas-fired power
stations.
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