Té Power Company: Expanding access to electricity in one of Africa’s least developed countries
Many homes in Guinea suffer from extreme shortages of power, limiting overall quality of life and economic growth
Challenge: Like much of Sub-Saharan Africa, the small west African country of Guinea suffers from extreme shortages of power which limit overall quality of life as well as business activity and economic growth. The World Economic Forum ranks Guinea’s power supply the lowest among the 140 countries it tracks.
Solution: OPIC is providing financing and political risk insurance to support the construction of a 50 MW thermal power plant in Guinea. The plant will be constructed by Té Power Company, which was formed and is operated by Endeavor Energy of Houston.
Impact: The new power plant will increase supply by as much as ten percent and help Guinea meet growing demand, which is projected to triple by 2027. Construction of the plant will also bring more jobs to a region where 90 percent of workers are employed in the informal economy, and help stimulate an economy that has stagnated in the wake of the Ebola crisis.
This project was profiled in 2018