Te Power

West Africa,Africa Infrastructure

The Tè Power Company (TPC) was set up to build a 50 megawatt (MW) greenfield power plant in Conakry, Guinea.

TPC is sponsored by Endeavor Energy as the majority owner, and Energie, Environnement et Mines S.A. (E2M), a Mauritanian mining and power company.

Our investment

In 2017, CDC made a $39 million debt investment into TPC alongside the American DFI Overseas Private Investment Corporation (OPIC) for a total financing of $89 million.

This investment will provide much needed baseload power to a country which experiences regular outages.

It is CDC’s first investment in Guinea, the first sizeable investment made by a British investor in Guinea, and Guinea’s first independent power project.

Expected impact

Guinea is one of the poorest countries in Africa. Just over a quarter (28 per cent) of the 12.4m population have access to electricity and chronic power cuts have previously led to civil unrest. The country has vast and underdeveloped hydropower resources but currently only 400MW of installed grid capacity, dropping to as low as 150MW of reliable power.

Eighty-four per cent of businesses in Guinea experience electrical outages, suffering four electrical outages a month, resulting in a 5 per cent loss of annual sales.

The TPC project will provide a medium-term and mid-priced power solution to support the country’s post-Ebola economic recovery until further hydropower resource comes on stream.

This privately funded power project, designed to deliver international environmental standards, will be a strong signal to attract other international investors to the country.

Environmental and social aspects

We worked closely with the company to develop its construction management and operational plans to meet international environmental and social standards in the following areas: construction, employment, working conditions, health and safety, and air emissions.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
Africa, West Africa
Countries:
Guinea
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Infrastructure
Website:
http://tepowercompany.com/en/
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Direct Debt
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
March 2018
Amount

For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that CDC has committed to the fund.

:
$39m
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Guernsey