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MALI TO OPEN US$139m 90MW POWER PLANT NEXT WEEK
Mali’s 90MW power plant to go online by next week
Mali’s first independent power project, a 90MW power plant will become active by next week. The 90MW plant costs about US$139.06-million (€122-million), and will also help drive foreign investment in the West African country. It’s location is in the gold-rich southwest region of the country. Precisely near the town of Kayes, not far from the border with Senegal.
Mali have about 350MW of installed power production capacity. This power is mostly from hydroelectric projects, which fluctuates due to inconsistent rainfall in recent years. Currently, only about 30% of Malians have access to electricity.
According to Ruth Beckers, a Board member of Albatros Energy, the plant will become operational by 31st October 2018.
Albatros Energy holds a 20-year concession to operate the plant. It will also sell its output to state-owned power utility Energie du Mali.
African Infrastructure Investment Managers, a division of Old Mutual, holds a 44 percent stake in Albatros Energy, and West Africa-focused Redox Power Solutions owns 31 percent. Danish engineering firm, Burmeister & Wain Scandinavian Contractor and Danish development investment fund, IFU also hold smaller stakes.
This success of this power plant will also serve as an avalanche for new investment,. Hopefully, not in only just Power but in other areas.
Mali is also blessed with gold. It is the third biggest producer of gold in Africa after South Africa and Ghana.