Globeleq has agreed to acquire EDF’s 32.85% interests in Azito, including its 50% interest in the related operating company responsible for the operation and maintenance of the plant.
The facility has a generating capacity of approximately 290MW and supplies approximately one-third of electricity to the country through the privately-owned electricity company, CIE, for transmission to the national grid.
The shareholders of Azito Energie and the Government of Cote D’Ivoire are working together to develop a project to expand and convert the existing plant from a single-cycle power plant to a combined cycle power plant. This will provide further capacity without the need for additional fuel and increase the total capacity at the plant to approximately 420MW. Globeleq has held an interest in Azito since 2003.
Mikael Karlsson, CEO of Globeleq, said: “We have always valued the Azito plant as part of our portfolio. This agreement confirms our ongoing commitment to the region and supports the company’s strategy to become the leading power company in Africa. The proposed expansion of the facility provides an opportunity to supply additional clean, affordable and fuel efficient power to the country.”
