FB GROUP and São Tomé and Príncipe Signs Investment Aggreement for Power Plant

FB GROUP signed an investment agreement on October 10th, 2023 with São Tomé and Príncipe for energy production, through the installation of several Power Plants in São Tomé and Príncipe, aiming at the production and sale of energy to the State, through the Water and Electricity Company (EMAE).

The agreement was signed by Mr. Yusuf Baykan, Chief Investment Officer of FB GROUP and Dr. Neusa Raquel DOS Reis Costa Da Graça Lima, Director of State Heritage of São Tomé and Príncipe. This collaboration signifies an important milestone in advancing sustainable energy solutions and fostering environmental stewardship. The agreement reflects a shared commitment to using the potential of renewable energy to drive economic growth and sustainable development.

The new power plant will have a total capacity of 55 MW and will be built in three phases. Phase 1 will consist of 10 MW of diesel engines, phase 2 will consist of 30 MW of dual fuel (LNG/Diesel) engines, and phase 3 will consist of 15 MW of solar power. The diesel engines will be used to provide baseload power, while the dual fuel engines will be used to provide peak power and to supplement the diesel engines when they are not operating. The solar power will be used to generate electricity during the day, which will help to reduce the reliance on fossil fuels. The new power plant is expected to improve the reliability of the electricity supply in the area and to reduce greenhouse gas emissions. It is also expected to create jobs in the construction and operation of the plant. The construction of the São Tomé and Príncipe Power Plant will last 2 years.