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Savannah Energy PLC - London-based energy company focused on Africa - Signs agreement with Niger's government for the construction and operation of the country first wind farm, which will have an installed power generation capacity of up to 250 megawatts in Tahoua, Southern Niger.
Initial phase of the project will see Savannah carry out a 24-month feasibility study, which will include an assessment to confirm wind conditions and assess how the generated power will be added into electricity grids.
The project is on-track to be sanctioned in 2023, with first power generation in 2025. Savannah will fund the project through project specific debt and internal cashflows.
Current stock price: 26.80 pence
12-month change: up 58%
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