Savannah Energy to develop up to 500 MW of renewables in Chad

British independent energy company Savannah Energy Plc (LON:SAVE) has sealed a deal with the Ministry of Petroleum and Energy of the Republic of Chad for the development of up to 500 MW of renewable energy projects.

Savannah has agreed to develop an up-to-300-MW solar photovoltaic (PV) power plant with a battery energy storage system (BESS) in Kome, southern Chad, to be known as the Centrale Solaire de Kome. This facility will provide reliable power generation for the Doba Oil Project and the surrounding towns of Moundou and Doba, which currently only have intermittent power access. The Kome solar park is seen to generate first electricity in 2025.

Also, the British company will work on one solar and one wind project, each of 100 MW, that will supply power to the capital city of N'Djamena. A significant portion of this new capacity will benefit from energy storage too. Combined, the two projects will be referred to as the Centrales d'Energie Renouvelable de N'Djamena. They are scheduled to begin power production in 2025/26.

Savannah anticipates financing all of these schemes with a mix of internally generated cash flows and project-specific debt.

"The Projects represent one of the largest ever foreign direct investments in Chad and are believed to the largest ever by a British company,” commented Andrew Knott, CEO of Savannah Energy.

Earlier this year, the company signed a similar deal in Niger to build an up-to-250-MW wind farm. Chief executive Knott pointed out today that the firm expects to announce its involvement in more projects of this type over the course of the next 12 months.

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