(Alliance News) - Savannah Energy PLC on Thursday said its subsidiary, Savannah Energy Niger Solar Ltd, signed a memorandum of agreement with the Niger government for two solar power projects.
The London-based energy company, with projects in Cameroon, Chad, Niger and Nigeria, said the
solar photovoltaic power plants are intended to have a generation capacity of up to 200 megawatts, and will increase overall grid connected power in Niger by more than 20%.
The power plants will also cut down on an estimated 260,000 tonnes of annual carbon dioxide emissions.
Savannah said it will fund the solar projects from a combination of its own internally generated cashflows, as well as project specific debt.
Chief Executive Officer Andrew Knott said: "We look forward to working with the Government of Niger as we seek to advance these projects through their development and construction phases towards first power in the 2025 to 2026 window."
Shares in Savannah are suspended since December 9, last trading at 26.25 pence.
By Sabrina Penty, Alliance News reporter
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Savannah Energy (SAVE)