Endeavor Energy To Develop Power Projects In Guinea
Conakry, Guinea and Houston, United States
Endeavor Energy, a privately-owned independent power development and generation company backed by leading energy-focused global private equity firm Denham Capital, today announced that it has entered into a joint development agreement (“JDA”) with Mauritanian power developer, Energie, Environnement Et Mines S.A. (“E2M”).
As part of the JDA, the two companies will work together to (i) develop, finance, construct, own and operate a 50MW greenfield temporary power project (“Temporary Power Solution”) whilst the government of Guinea works to implement more permanent solutions, and (ii) refurbish and/or complete construction of, finance, operate the existing 24MW Tombo 1 power station and the existing 26MW Tombo 2 power station (the “Tombo Power Stations” and together with the Temporary Power Solution, the “Projects”). After the term, Endeavor and E2M will hand back over to the Government of Guinea the Tombo Power Stations.
“We are pleased to joint venture with E2M and the Government of Guinea to develop the Temporary Power Solution and rehabilitate the Tombo Power Stations. Once complete, the Projects will substantially increase electricity generation in Guinea and provide a reliable source of power to the country,” said Sean Long, CEO of Endeavor Energy.
“We are proud in providing with our partner Endeavor Energy a reliable and competitive power solution to the Republic of Guinea. We aim to execute with Endeavor Energy the projects according to the schedule and in conformity with the best standards of the industry. Health, safety and environment requirements are a priority to E²M” said Taleb Abdivall, CEO of E2M.
The Projects are in advanced stage of development with executed Power Purchase Agreements with the Government of Guinea and will be developed and constructed on an expedited timeline.
“We continue to see a robust market and a need for independent power generation companies like Endeavor Energy to invest both development capital and equity capital in power generation projects in Africa. Endeavor is partnering with power developers and governments across Africa, and investing in power generation infrastructure to bridge the significant gap between power supply and demand on the African Continent”, added Long.
About Endeavor Energy
Endeavor Energy is a privately-held international independent power project (IPP) company focused on developing and investing in power generation facilities in Africa. Endeavor Energy is led by a seasoned management team with extensive IPP experience around the world, and a proven record of identifying and executing on project development and acquisition opportunities. With the financial backing of energy-focused global private equity investor Denham Capital, the company possesses significant financial and operational capability to generate and participate in multiple power development projects in Africa. Endeavor Energy is also a sponsor of the US government’s Power Africa initiative. For additional information, please call +1 281.369.5908 or email us at email@example.com. For more information about Endeavor, visit www.endeavor-energy.com.
E²M is a privately owned company focused on providing to its clients renewable and fossil energy solutions adapted to their needs in the West and Sub-Saharan Africa. Public and private companies who are seeking the reduction of the cost of their energy bill can rely on E²M. In partnership with internationally renowned companies, E²M intends to become, in the medium term, a pioneer in the energy sector in Sub-Saharan Africa. For additional information, please email us at firstname.lastname@example.org. For more information about E²M, visit www.edeuxm.com.
About Denham Capital
Denham Capital is a leading energy and resources-focused global private equity firm with more than $7.9 billion of invested and committed capital across seven fund vehicles and offices in London, Boston, Houston, São Paulo and Perth. The firm makes direct investments in the energy and resources sectors, including businesses involving power generation, oil and gas, and mining, across the globe and all stages of the corporate lifecycle. Denham’s investment professionals apply deep operational and industry experience and work in partnership with management teams to achieve long-term investment objectives. For more information about Denham Capital, visit www.denhamcapital.com.