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Amandi Gas-to-Power Project

Endeavor Energy owns 51.02% of the Amandi Project – making Endeavor the largest shareholder.  Endeavor played a significant role in achieving financial close for the project and owns 51.02% of two Sponsor-owned companies that will provide construction management and oversight of the EPC contractor, operations and maintenance services, and commercial management services to the project.

The Amandi Project, is a 200 MW combined cycle, dual-fuel power project in Aboadze, Ghana. It’s the only large scale base-load independent power generation project in sub-Saharan Africa to achieve financial close in 2016.  The Amandi Project will be fully constructed within 28 months and is scheduled to come online in April 2019. The plant’s construction will create 400 jobs, most of which will be filled by Ghanaians, and the plant’s operations will employ up to 40 people full time.

The Amandi Project will be crucial in helping to meet Ghana’s growing power needs. Once constructed, the plant will be one of the most efficient power plants in the country and will produce more than 1,600 gigawatt hours per year, energizing up to one million Ghanaian households. Amandi Energy will sell power to the Electricity Company of Ghana (ECG) under a 25-year Power Purchase Agreement. It will be initially fueled by light crude oil, but is expected to switch to indigenous gas from Ghana’s offshore Sankofa natural gas field once available.

The $552 million investment required for the Amandi Project comprises $134 million in equity from the sponsor group, which includes Endeavor, AFG, Aldwych, Pan African Infrastructure Development Fund 2 managed by Harith General Partners (PAIDF2), and ARM-Harith Infrastructure Fund (ARMHIF). The $418 million in debt financing is provided by a group of lenders, including the U.S. Government’s development finance institution Overseas Private Investment Corporation (OPIC), which will provide a $250 million loan, as well as CDC Group plc, which will provide an $83 million loan, Nedbank Limited and Rand Merchant Bank.

The Amandi Project represents a significant achievement for the U.S. Power Africa initiative, and is designed to support Ghana’s growing natural gas industry. As Power Africa partners, OPIC, Denham Capital, Endeavor and Aldwych seek to make a difference with their projects throughout the continent by working with national governments and local stakeholders to build the capacity necessary to help meet critical demands for new electricity supplies.

The Amandi Project was named 2016 African Power Deal of the Year by both Project Finance International and IJ Global.

For more information about Amandi Energy, please visit