Savannah Energy PLC’s Accugas Limited (Accugas) has announced the signing of an update to its interruptible gas sales agreement (IGSA) with First Independent Power Limited (FIPL), which was signed on January 28, 2020. Savannah Energy Plc is a private energy company based in the United Kingdom.
Accugas provides FIPL’s Afam power plant with up to 35 MMscfpd of gas. According to the provisions of the amendment, FIPL will raise the amount of gas it buys from Accugas to up to 65 MMscfpd in order to serve the Trans Amadi and Eleme power plants, as well as the Afam power plant. FIPL’s power plants have a combined generation capacity of 391 MW, with the Trans Amadi and Eleme plants having 136MW and 75MW, respectively. All three plants are in Rivers State.
FIPL is a subsidiary of the Sahara Group, a global energy and infrastructure conglomerate with operations in more than 42 countries across Africa, the Middle East, Europe, and Asia.
“Accugas has generated growth in total revenues from gas sales for each of the last five years, with a realized CAGR of 15%,” stated Andrew Knott, CEO of Savannah Energy. New contracts like this provide the foundation for us to keep growing in the future, and we look forward to working with the Sahara Group on this and other projects in the future.”
“At Sahara, we feel that we have a working partnership with Savannah, and we are thrilled to see that our ideals are becoming a reality,” said Kola Adesina, Group Managing Director, Sahara Power Group.
We hope that by signing this Addendum, we will be able to provide a consistent supply of gas to FIPL power plants, thereby boosting the health of the Nigerian Electricity Supply Industry (NESI) and, as usual, giving energy to the everyday person whose interests we serve.”
