WEST AFRICAN ENERGY SA

What WEST AFRICAN ENERGY SA does

West African Energy SA is a Senegalese société anonyme that developed and operates the Centrale West African Energy, a 366MW combined cycle gas-fired power plant at Cap-des-Biches in Dakar. The facility is the largest combined cycle gas power plant in Senegal and accounts for approximately 25% of the country's total installed power capacity. The plant uses two natural-gas-fired gas turbines, each coupled with a heat recovery steam generator (HRSG), feeding a single steam turbine, and is equipped with dry low-NOx burners that limit NOx emissions to a maximum of 70 ppm under continuous online monitoring. Core turbine technology is supplied by GE Vernova, with turnkey EPC delivered by Calik Enerji under a fast-track construction methodology.

The project was financed 100% by a consortium of national private investors with a registered share capital of 16 billion FCFA, and total project cost of 283 billion FCFA (approximately EUR 432 million). Financial close was achieved on 6 February 2023 via a consortium led by Africa Finance Corporation, with Afreximbank and the Islamic Corporation for the Development of the Private Sector (ICD) as additional DFI lenders. The asset cleared Senegalese environmental and social impact assessments in 2020 and reached simple cycle commissioning in August 2024, with combined cycle commissioning scheduled for April 2025 to bring the plant to its full 366MW baseload capacity.

The company's revenue model is a single-stream B2B infrastructure arrangement: it sells electricity generated by the 366MW plant exclusively to SENELEC, Senegal's state-owned national electricity utility, under a bilateral power purchase agreement signed as part of SENELEC's Production Plan. Pricing, tariff structure, and PPA tenor are not publicly disclosed. The go-to-market is enterprise field sales into a single government off-taker, supported by multilateral development finance and government protocol agreements; there are no retail channels, alternative offtakers, or merchant exposure.

Name

WEST AFRICAN ENERGY SA

Legal name

West African Energy SA

Website

https://westafricanenergy-sa.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

West African Energy SA is a Senegalese power infrastructure company that developed and operates the country's largest combined-cycle gas power plant (366MW) at Cap-des-Biches, Dakar, supplying electricity exclusively to national utility SENELEC under a power purchase agreement.

Ownership category

akta.pro rank

Product category

Power Generation

NAICS

Fossil Fuel Electric Power Generation (221112), Electric Power Generation (22111)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Gas-Fired Power Plant Development & IPP Ownership (Greenfield/Brownfield) (EUACABAI)

akta.pro secondary industries

Gas-Fired Power Plant O&M and Life-Extension/Repowering Services (EUACABAJ), Thermal Power Plant EPC (Gas/Coal/Oil) (EUAEAAAA)

Keywords

• Combined cycle power generation
• Natural gas power plant
• Electricity generation services
• Independent power production
• Baseload power capacity

Headquarters

HQ city

Dakar

HQ country

Senegal

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Supply Chain, Operations, Personnel, Technology or R&D

Revenue model

1. Electricity Generation and Sales: The company generates electricity through its 366MW combined cycle gas power plant and sells power to SENELEC (Senegal's national electricity company) under a power purchase agreement. Revenue is generated from the sale of electricity to the national grid.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

West African Energy SA develops, owns, and operates the Centrale West African Energy, a 366 MW combined cycle gas turbine (CCGT) power plant located at Cap-des-Biches in Dakar, Senegal. The plant uses two gas turbines with heat recovery steam generators (HRSG) coupled to a steam turbine, fueled by natural gas, and sells the generated electricity exclusively to SENELEC (Senegal's national electricity utility) under a long-term power purchase agreement.

Product overview

West African Energy SA operates a single core product: the Centrale West African Energy, a 366MW gas combined-cycle power plant located at Cap-des-Biches, Dakar, Senegal. The plant utilizes two gas turbines with heat recovery steam generators (HRSG) coupled to a steam turbine, making it the largest and most efficient gas-fired power plant in Senegal. The project, valued at 283 billion CFA francs (approximately 432 million euros), is a turnkey project developed by Calik Enerji in partnership with GE Vernova, financed entirely by a consortium of national private investors. The power plant contributes 25% of Senegal's installed electricity generation capacity and supports the government's 'Gas-to-Power' strategy.

Differentiator

Problem solved

Functional benefit

Products and services

• Centrale West African Energy (366 MW Combined Cycle Gas Power Plant) The largest gas combined-cycle power plant in Senegal, located at Cap-des-Biches in Dakar. It has an installed capacity of 366 MW, representing 25% of Senegal's installed power capacity, and consists of two gas turbines with heat recovery steam generators (HRSG) coupled to a steam turbine running on natural gas. The facility is financed entirely by a consortium of national private investors, built turnkey by Calik Enerji with GE Vernova gas turbines, and sells electricity to SENELEC under a power purchase agreement to supply baseload and peak demand on the Senegalese national grid.

Quantifiable outcome

• 366MW capacity representing 25% of Senegal's installed power capacity
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Three partnerships are on record, tiered core.

• Calik EnerjicoreTechnology or IntegrationCalik Enerji is the EPC (Engineering, Procurement, and Construction) contractor for the project. As an internationally renowned company with thousands of MW of power plant construction experience globally, they are responsible for delivering the plant under a turnkey 'fast-track' delivery model.
• GE Vernova (ex General Electric)coreTechnology or IntegrationGE Vernova is the technology partner providing the gas turbines and associated equipment. The company has extensive global experience in power generation equipment with thousands of MW delivered through major power plant installations worldwide.
• SENELECcoreStrategic or Co-development PartnerSENELEC is Senegal's national electricity company and the project off-taker. A Protocol Agreement was signed between SENELEC and West African Energy. The project was developed in collaboration with SENELEC as part of their Production Plan to meet growing electricity demand.

Scale indicators7 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• ContourGlobal: International IPP operating thermal and renewable generation assets in multiple African and emerging markets. Comparable as a multi-country gas/thermal IPP with long-term utility PPAs in similar emerging-market contexts.
• Endeavor Energy (Black Rhino): Africa-focused energy infrastructure developer with gas-fired and renewable IPP investments across West and Southern Africa. Comparable as a private IPP operator with similar project finance structures and DFI relationships.
• Globeleq: UK-based African power platform operating multiple thermal and renewable generation assets across the continent, including West Africa. Comparable as a larger-scale IPP investor with gas-fired exposure in similar markets.

Regional players

• Mainstream Energy Solutions: Nigerian operator of large-scale hydro and gas power assets (Kainji/Jebba) under concession with the national utility. Comparable as a West African private IPP with long-tenor utility off-take.
• Karpowership: Turkish operator of floating gas/LNG power ships serving multiple West African markets including Senegal, Ghana, and Côte d'Ivoire. Comparable as a regional gas-fired power provider competing for utility PPAs in the same geography.
• Volta River Authority (VRA) IPP partners: Ghana's state utility partners with private IPPs (including Cenpower and Ameri) to operate CCGT plants selling power under PPAs. Comparable as the structural analog to WAE's relationship with SENELEC in Senegal.

Direct peers

• CIPREL: Côte d'Ivoire's largest gas-fired IPP supplying electricity to CIE under a long-term concession. Directly comparable to WAE in scale, technology (GE turbines), and structure as a single-asset private gas IPP in West Africa serving a national utility.
• Cenpower Generation Company: Ghanaian CCGT IPP with ~360MW capacity selling to ECG under a long-term PPA, financed by AFC and other DFIs. Highly comparable to WAE in plant configuration (GE turbines, CCGT), off-take structure, and DFI-backed project finance.
• Azito Energie: Côte d'Ivoire-based independent gas-fired power producer operating CCGT capacity sold to the national grid under a long-term PPA. Closely comparable to WAE as a West African gas IPP with similar utility off-take structure and DFI financing model.

Others

• GE Vernova (technology partner): WAE's gas turbine technology supplier; broader gas turbine OEM active across global CCGT and utility-scale generation markets. Included as an ecosystem enabler and benchmark for the underlying equipment economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/westafricanenergy

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about WEST AFRICAN ENERGY SA