REG - Savannah Energy Plc - First Gas Sales to FIPL’s Trans Amadi Power Plant

Savannah EnergyAnnouncement

22/06/2022 07:00

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RNS Number : 7146P  Savannah Energy Plc  22 June 2022

22 June 2022

 

 

Savannah Energy PLC

("Savannah" or the "Company")

 

 

First Gas Sales to FIPL's Trans Amadi Power Plant

 

Savannah Energy PLC, the British independent energy company focused around
the delivery of Projects that Matter in Africa, is pleased to announce that
Accugas Limited ("Accugas"), the Company's 80% indirectly owned subsidiary,
has commenced gas sales to First Independent Power Limited's ("FIPL") Trans
Amadi power plant in Port-Harcourt, Nigeria.

As previously announced in April 2022, Savannah executed an addendum to its
gas sales agreement with FIPL, allowing FIPL to increase the quantity of gas
purchased to up to 65 MMscfpd (from 35 MMscfpd) to allow supply to both its
Trans Amadi and Eleme power plants (as well as its Afam power plant). FIPL is
an affiliate company of the Sahara Group, a leading international energy and
infrastructure conglomerate with operations in over 42 countries across
Africa, the Middle East, Europe and Asia.

 

The FIPL Trans Amadi power plant has a power generation capacity of 136 MW but
its generation capacity had recently been limited due to gas availability
issues from its primary supplier. Savannah commenced gas supply to the Trans
Amadi power plant on 19 June 2022, which has allowed for the immediate
resumption of power generation and evacuation to Nigeria's National Grid.

 

Andrew Knott, CEO of Savannah Energy, said:

"I am very pleased to have commenced gas sales to the Trans Amadi power
station. I am proud of the key role we are increasingly playing in providing
power to Nigeria at this time. I would like to thank our partners at Sahara
for continuing to choose to work with us and look forward to exploring further
opportunities with them in the future."

 

Kola Adesina, Group Managing Director, Sahara Power Group, said:

 

"We are pleased to have achieved operationalisation of gas supply to our Trans
Amadi Plant sooner than anticipated and thank Savannah for their continued
support in ensuring that FIPL remains committed to efficient power generation
in Nigeria".

 

 

For further information, please refer to the Company's
website www.savannah-energy.com (http://www.savannah-energy.com/)  or
contact:

 

 

 Savannah Energy                                                                       +44 (0) 20 3817 9844
 Andrew Knott, CEO
 Nick Beattie, CFO
 Sally Marshak, Head of IR & Communications

 Strand Hanson (Nominated Adviser)                                                     +44 (0) 20 7409 3494
 James Spinney
 Ritchie Balmer
 Rob Patrick

 finnCap Ltd (Joint                                                                    +44 (0) 20 7220 0500
 Broker)

 Christopher Raggett

 Tim Redfern

 Panmure Gordon (UK) Ltd (Joint                                                        +44 (0) 20 7886 2500
 Broker)

 John Prior

 Hugo Rich

 James Sinclair-Ford

 Camarco                                                                               +44 (0) 20 3757 4983
 Billy Clegg

Owen Roberts

Violet Wilson

The information contained within this announcement is considered to be inside
information prior to its release, as defined in Article 7 of the Market Abuse
Regulation (EU) No. 596/2014, which forms part of United Kingdom domestic law
by virtue of the European Union (Withdrawal) Act 2018 (as amended), and is
disclosed in accordance with the Company's obligations under Article 17 of
those Regulations.

 

About Savannah Energy

Savannah Energy PLC is an AIM quoted British independent energy company
focused around the delivery of Projects that Matter in Africa and is active in
Cameroon, Chad, Niger and Nigeria.

South East Nigeria Infrastructure Map

http://www.rns-pdf.londonstockexchange.com/rns/7146P_1-2022-6-21.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/7146P_1-2022-6-21.pdf)

Further information on Savannah Energy PLC can be found on the Company's
website: www.savannah-energy.com (http://www.savannah-energy.com/) .

 

About the Sahara Group and First Independent Power Limited

Sahara Group is a leading international energy and infrastructure conglomerate
with operations in over 42 countries across Africa, Middle East, Europe and
Asia. The Group's affiliate, Sahara Power Group ("SPG"), is the largest
privately owned vertically integrated power company in Sub-Saharan Africa,
with plans to expand its generation capacity to exceed 5,000MW by 2023. The
Sahara Group's portfolio includes Egbin Power Plc (the largest privately owned
thermal power plant in Sub Saharan Africa excluding South Africa) and the
Afam, Eleme, Omoku and Trans Amadi power plants. The Sahara Group successfully
acquired majority shareholding stakes in two of the Power Holding Company of
Nigeria ("PHCN") assets under the privatisation initiative of the Nigerian
Government, namely Egbin Power Plc and Ikeja Electric Plc (one of the largest
power distribution companies in Sub-Saharan Africa). In addition, the Sahara
Group through its affiliate, NG Power HPS Ltd, acquired a 70% stake in First
Independent Power Limited ("FIPL"). FIPL owns and operates four power plants
privatised by Rivers State in 2014, including the Afam, Eleme and Trans Amadi
gas-fired power stations.

 

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