Enjaz Power, a Dubai and Mauritius based independent power producer, has announced its plan to develop, own and operate power plants in Sub-Saharan Africa. Enjaz Powers goal is to develop a total of 500 Mega Watts over the next 5 years, for a total investment of $650 Million.
The Sub-Saharan African market suffers from a lack of power affecting approx. 622 Million people; almost 7 out of 10 people live with no electricity. With improving economies, demographic growth and abundant resources the region’s demand for power is set to grow at double digit rates for the next 10 years.
Building on extensive combined technical and operational experience, Enjaz Power has developed efficient and green, technology-neutral solutions focused on thermal, wind, solar and hybrid IPP. Working in concert with leading industry manufacturers such as, ABC, SUMEC, Goldwind and Vestas, Enjaz Power is able to deploy its solutions with environmental and commercial efficiency.
“Africa in the dark is Africa in poverty. These social and developmental challenges must be addressed. Enjaz Power studied the market thoroughly before embarking on this ambitious plan. The Enjaz DNA and legacy is based on servicing client needs, and we plan to transfer this know-how to these developing markets.” said Sami Akeel, Founder and Chief Executive Officer of Enjaz Power.
Enjaz Power’s “ 500 in 5” plan, will establish Enjaz Power as a leading IPP operator in Sub Saharan Africa. Lower fuel costs, an improving multilateral credits market, and an emphasis on clean energy post the Climate COP 21 Agreement, crystalizes Enjaz Power’s “500 in 5 ” Plan.
Recognizing the need for long term structured financings, Enjaz Power has partnered with globally recognized best in class financial advisory group, Taylor-Dejongh that has a track record of over $250 Billion in emerging markets project financings over the last 30 years.
“Taylor-Dejongh is teaming up with Enjaz Power to bridge the funding gap between institutional investors and developers like Enjaz Power that have solid, bankable power projects.” said Ibrahim Mardam-Bey, Principal and Chief Commercial Officer at Taylor-Dejongh.
Enjaz Power has already made significant strides in its “500 in 5” plan and currently has several projects under development in Guinea, Ghana and Kenya.
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