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Outlook for Power Sector A view from the Private Sector. Presented by CEC Africa Sierra Leone Limited. Presentation Outline. Who is CECA SL? Private Sector in African Infrastructure Development Generation Project Grid Development Supplying the unique requirements of the mining sector.
CEC Africa Sierra Leone Limited
Who is CECA SL?
Private Sector in African Infrastructure Development
Supplying the unique requirements of the mining sector
Blue Flare Concession
Mine Supply Co
CEC Africa is the pan-African business development subsidiary of CEC Plc
CEC Plc is a 60 year old listed utility that owns and operates c900km of primary transmission and distribution lines, 520km of optic fibre on power lines, substations and embedded thermal generation in Zambia.
The Company had revenues of US$250m and US$43m EBIDTA
CEC’s principal shareholders include FMO and the Development Bank of Southern Africa. These institutions have a long history of providing debt and equity finance to the power sector in Sub-Saharan Africa
It was the first private sector member of the Southern African Power Pool
TCQ Power Ltd was incorporated in 2011 for the purpose of structuring, designing, developing, owning and operating power generation and transmission & distribution (T&D) projects in emerging Africa with a focus on West Africa. The main focus of TCQ is T & D assets as they believe that T & D will see a large increase in investment over the coming years. Additionally advances in IT have made T & D assets profitable.
TCQ founders and management team are experienced industrialists bringing with them considerable complex project management experience and engineering skills. The TCQ team has a strong track record in the power sector, especially in the construction aspects of the same. The founders of TCQ had owned Target Engineering in the UAE which had annual turnovers of 600m USD and 12,000 personnel prior to their selling of the firm to Arabtec Construction at the end of 2008.
Reforms and intentions of the GoSL to ease private sector participation in the country apparent
Current WB ranking still low, but improving
Attractive to private sector funding, construction and operation with little government participation
Attractive to private sector construction and government funding and operation
Source: Adaptation of McKinsey & Co. , 2010
Concession to build, operate and transfer generation plants in the Western Area of Sierra Leone, including Freetown
Not only potential to fill current supply gap, but with intentions to be a FOREX earner for SL through power exports
Current state of distribution network in Western Area is a bottleneck to further generation development
Grid works contracted to enable grid to distribute current and planned generation capacity
In 2010, the private sector accounted for 11% of the investment inflow into the power sector in Africa
CECA SL sees this as a unique time to get involved in countries that are open to the private sector
CECA SL brings together the unique experiences of CEC PLC in African utility management and delivery of reliable power to sensitive industries under difficult circumstances and the project management expertise of TCQ for the benefit of Sierra Leoneans and its shareholders