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Singrobo hydropower project to deliver electricity under a 35-year PPA

The Themis Group announced it has issued a Full Notice to Proceed (FNTP) with construction of the 44MW Singrobo Hydropower Project, in Ivory Coast.
Sponsored by a consortium including the Africa Finance Corporation (AFC) and IHE Holding, a local development company, Singrobo will begin delivering much needed electricity to the Ivorian power grid via a 35-year PPA with the national off taker, CIENERGUES in early 2023.

Singrobo will deliver 217GWh per annum of affordable power to local industries, businesses and communities, reduce CO2 emissions by 124,000 tons per annum and create around 500 jobs during construction.

With total costs amounting to €195 million ($214 million), Singrobo has been designed to avoid and minimise negative environmental and social impacts in compliance with African Development Bank Operational Safeguards and International Finance Corporation Performance Standards.

Tas Anvaripour, CEO of Themis, which is backed by Denham Capital, said: “Themis is pleased to announce FNTP for the Singrobo project and would like to thank all our partners, the government of Ivory Coast, AFC, and IHE who have contributed to this critical milestone. This has helped the country maintain delivery of its renewable energy targets in spite of the challenges of the COVID-19 pandemic.

Scott Mackin, Managing Partner at Denham Capital, added: “We are proud to have worked with Themis and its partners to provide long-term sustainable and affordable renewable power to the region. Like other Denham power projects across Africa and globally, Singrobo will have a significant economic and social impact via low-cost, reliable power and the creation of local jobs while supporting the country’s energy transition.

Additional information:
News date: 27/05/2020

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