Financial Energy Review
Savannah Energy PLC, the British independent energy company, said Accugas Limited (Accugas), the Company’s 80 per cent indirectly owned subsidiary, has commenced gas sales to First Independent Power Limited’s (FIPL) Trans Amadi power plant in Port-Harcourt, Nigeria.
As previously reported in April 2022, Savannah executed an addendum to its gas sales agreement with FIPL, allowing FIPL to increase the quantity of gas purchased to up to 65 million standard cubic feet per day (MMscf/d) from 35 MMscf/d) to allow supply to both its Trans Amadi and Eleme power plants (as well as its Afam power plant).
FIPL is an affiliate company of the Sahara Group, a leading international energy and infrastructure conglomerate with operations in over 42 countries across Africa, the Middle East, Europe and Asia.
The FIPL Trans Amadi power plant has a power generation capacity of 136MW but its generation capacity had recently been limited due to gas availability issues from its primary supplier. Savannah commenced gas supply to the Trans Amadi power plant on 19 June, 2022, which has allowed for the immediate resumption of power generation and evacuation to Nigeria’s National Grid.
Andrew Knott, CEO of Savannah Energy, said: “I am very pleased to have commenced gas sales to the Trans Amadi power station. I am proud of the key role we are increasingly playing in providing power to Nigeria at this time. I would like to thank our partners at Sahara for continuing to choose to work with us and look forward to exploring further opportunities with them in the future.”
Kola Adesina, Group Managing Director, Sahara Power Group, said: “We are pleased to have achieved operationalisation of gas supply to our Trans Amadi Plant sooner than anticipated and thank Savannah for their continued support in ensuring that FIPL remains committed to efficient power generation in Nigeria”.
