Globeleq owned Azito Energie SA inaugurated the Phase 3 of its 430 MW combined-cycle gas turbine (‘CCGT’) Power Plant in Abidjan with an onsite inauguration ceremony held in the presence of His Excellency, President Alassane Ouattara, President of the Republic of Côte d’Ivoire.
“Azito is now one of the most modern, efficient power plants in West Africa and will provide one-quarter (25%) of Cote d’Ivoire’s current total electricity capacity”, Azito says in a release.
The newly built Phase 3 of the Azito Power Plant adds ten percent (10%) more affordable and reliable electricity to the country.
“Including the recent capacity expansion, the total investment in the Azito Power Plant amounts to $615 million. Phase 3 was financed by shareholder equity, and loans from international and bilateral development agencies”, the press statement notes.
Hyundai Engineering and Construction Co Ltd, the engineering, procurement and construction contractor, completed the expansion earlier in 2015. During the peak of construction, the plant’s expansion created more than 1,300 jobs of which more than 60% were met by local employment.
Luc Ayé, Azito’s CEO said: “The scale of this power plant is indicative of the Government’s ambitions for Côte d’Ivoire. I would like to thank the Prime Minister and the Minister of Petroleum and Energy, our shareholders -Globeleq and IPS WA, a subsidiary of the Aga Khan Funds for Economic Development, AKFED – and financial partners for sharing our vision and ambition in bringing such a landmark power project to fruition, not forgetting the entire project team.”