Project Reference

CEC Africa Siera Leone

TCQ Power's initial project development represents a 128 Megawatt Powerplant utilizing Heavy Fuel Oil as its stockfeed. The project represents a cornerstone initiative by the Government of Sierra Leone to satisfy a burgeoning power supply deficiency to the capital city of Freetown and the western regions. Upon completion of the three projct phases, it is anticipated that power would be made accessible to an estimated 1 million persons.

Project Description

  • 128 Megawatt (MW) power generation plant, for the capital Freetown as well as Western Areas
  • Full operational capacity of 128 MW, developed in three phases of 50 MW, 39 MW & a further 39 MW respectively
  • 22 Year Power Purchase Agreement from Phase 3 financial close with Government of Sierra Leone (GoSL) & Sierra Leone Utility (EDSA)
  • Governmental Guarantee from the Sierra Leone authorities to support payments from the offtaker
  • Equity Cover from MIGA, and liquidity support from the Government of Sierra Leone & EDSA through the issuance of a Partial Risk Guarantee backed by the World Bank.

Ownership Structure

TCQ Power and CEC Africa have established a Sierra Leone entity CEC Africa (SL) Ltd. To develop the project locally

  • CEC Africa Investment Limited - 50.10%
  • TCQ Power Limited – 49.90%
  • TCQ major shareholders: Vicci Holding, Energy Development Co. (EDC) affiliate of BB Energy

Project Stakeholders

  • Financial Advisor: Synergy Consulting Infrastructure & Financial Advisory Services Inc.
  • International Legal Advisor: Trinity International LLP
  • Insurance Advisor: Alesco Risk Management Services Limited
  • ESIA consultant: Jacobs International Holdings Inc.
  • Tax & Audit Consultant: KPMG Lebanon
  • Fuel Consultant: CITAC Africa Ltd
  • Generation Consultants: PEC Engineers (Pty) Limited

Project Assets

  • Phase gearing:
    • Phase #1: 50 Megawatts
    • Phase #2: 39 Megawatts
    • Phase #3: A further 39 Megawatts
  • Phase 1 of the Project will incorporate a reciprocating engine technology
  • The plant will use Heavy Fuel Oil (HFO) as a feedstock
  • Developed in three phases over five years.