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Sahara Power Group says it will continue to implement its expansion plans through investments in diverse energy mix and partnerships to enhance the capacity of the power sector in order to meet the anticipated energy demand growth in sub- Sahara Africa (SSA).
Kola Adesina group power managing director who disclosed this at the Oil and Gas Council’s Africa Assembly in Paris, said the SSA region needs to build “robust capacity” to respond to “disruptors” in the energy sector by way of economic growth, rising demand in Africa, shifting energy mix, changes in the market structure and dynamics, the growing share of private investment in Power, and in increased Regional Power Pooling.
The International Monetary Fund (IMF) World Economic Outlook reports that SSA growth is set to pick up from 3% percent in 2018 to 3.5% in 2019, before stabilizing at close to 4% over the medium term. About half of the region’s economies are expected to grow at 5% or more, which would see per capita incomes rise faster than the rest of the world on average over the medium term.
“As a foremost energy provider in Sub-Saharan Africa, Sahara Power Group is committed to its target of increasing the Group’s generation capacity to 5,000MW via different energy mix. This, in addition to other innovative interventions across the value chain in the region is being driven by ongoing investments and partnerships,” he stated.
Sahara Power Group is the largest privately owned vertically integrated power company in sub-Saharan Africa. The Group comprises including Egbin Power Plc (largest private thermal power plant in SSA), Ikeja Electric (one of the largest privately run power distribution companies in SSA) and First Independent Limited. Sahara Power has five power plants across several locations with capacity totaling 2040MW, with potential … Read More...