Earlier in the year, Globeleq signed agreements with EDF Group and ABB Equity Ventures to pursue acquisition of both entities’ shareholdings in Azito.
The transaction was completed after the necessary regulatory, legal and financial consents were attained by all parties to the agreement.
Industrial Promotion Services (IPS) retains the remaining shareholding in Azito.
The facility has a power generating capacity of approximately 290MW and operates under a 24-year concession.
In co-operation with the Government of Cote d’Ivoire, Globeleq and IPS are leading a project to expand and convert the facility from a single-cycle power plant to a combined-cycle facility.
This will increase the capacity of the plant to approximately 420MW without the need for additional gas and with no additional CO2 emissions.
Globeleq has held an interest in Azito Energie since 2003 and has participated as a member of the Azito Energie Board.
