SAVP Savannah Petroleum Plc

TIDMSAVE

RNS Number : 7146P

Savannah Energy Plc

22 June 2022

22 June 2022

Savannah Energy PLC

("Savannah" or the "Company")

First Gas Sales to FIPL's Trans Amadi Power Plant

Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa , is pleased to announce that Accugas Limited ("Accugas"), the Company's 80% indirectly owned subsidiary, has commenced gas sales to First Independent Power Limited's ("FIPL") Trans Amadi power plant in Port-Harcourt, Nigeria.

As previously announced in April 2022, Savannah executed an addendum to its gas sales agreement with FIPL, allowing FIPL to increase the quantity of gas purchased to up to 65 MMscfpd (from 35 MMscfpd) to allow supply to both its Trans Amadi and Eleme power plants (as well as its Afam power plant). FIPL is an affiliate company of the Sahara Group, a leading international energy and infrastructure conglomerate with operations in over 42 countries across Africa, the Middle East, Europe and Asia.

The FIPL Trans Amadi power plant has a power generation capacity of 136 MW but its generation capacity had recently been limited due to gas availability issues from its primary supplier. Savannah commenced gas supply to the Trans Amadi power plant on 19 June 2022, which has allowed for the immediate resumption of power generation and evacuation to Nigeria's National Grid.

Andrew Knott, CEO of Savannah Energy, said :

"I am very pleased to have commenced gas sales to the Trans Amadi power station. I am proud of the key role we are increasingly playing in providing power to Nigeria at this time. I would like to thank our partners at Sahara for continuing to choose to work with us and look forward to exploring further opportunities with them in the future."

Kola Adesina, Group Managing Director, Sahara Power Group, said :

" We are pleased to have achieved operationalisation of gas supply to our Trans Amadi Plant sooner than anticipated and thank Savannah for their continued support in ensuring that FIPL remains committed to efficient power generation in Nigeria ".

For further information, please refer to the Company's website www.savannah-energy.com or contact:

 
 Savannah Energy                                +44 (0) 20 3817 9844 
 Andrew Knott, CEO 
 Nick Beattie, CFO 
 Sally Marshak, Head of IR & Communications 
 
 Strand Hanson (Nominated Adviser)              +44 (0) 20 7409 3494 
 James Spinney 
 Ritchie Balmer 
 Rob Patrick 
 
 finnCap Ltd (Joint Broker) 
  Christopher Raggett 
  Tim Redfern                                   +44 (0) 20 7220 0500 
 
 Panmure Gordon (UK) Ltd (Joint Broker) 
  John Prior 
  Hugo Rich 
  James Sinclair-Ford                           +44 (0) 20 7886 2500 
 
 Camarco                                        +44 (0) 20 3757 4983 
 Billy Clegg 
  Owen Roberts 
  Violet Wilson 
 
 

The information contained within this announcement is considered to be inside information prior to its release, as defined in Article 7 of the Market Abuse Regulation (EU) No. 596/2014, which forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018 (as amended), and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.

About Savannah Energy

Savannah Energy PLC is an AIM quoted British independent energy company focused around the delivery of Projects that Matter in Africa and is active in Cameroon, Chad, Niger and Nigeria.

South East Nigeria Infrastructure Map

http://www.rns-pdf.londonstockexchange.com/rns/7146P_1-2022-6-21.pdf

Further information on Savannah Energy PLC can be found on the Company's website: www.savannah-energy.com .

About the Sahara Group and First Independent Power Limited

Sahara Group is a leading international energy and infrastructure conglomerate with operations in over 42 countries across Africa, Middle East, Europe and Asia. The Group's affiliate, Sahara Power Group ("SPG"), is the largest privately owned vertically integrated power company in Sub-Saharan Africa, with plans to expand its generation capacity to exceed 5,000MW by 2023. The Sahara Group's portfolio includes Egbin Power Plc (the largest privately owned thermal power plant in Sub Saharan Africa excluding South Africa) and the Afam, Eleme, Omoku and Trans Amadi power plants. The Sahara Group successfully acquired majority shareholding stakes in two of the Power Holding Company of Nigeria ("PHCN") assets under the privatisation initiative of the Nigerian Government, namely Egbin Power Plc and Ikeja Electric Plc (one of the largest power distribution companies in Sub-Saharan Africa). In addition, the Sahara Group through its affiliate, NG Power HPS Ltd, acquired a 70% stake in First Independent Power Limited ("FIPL"). FIPL owns and operates four power plants privatised by Rivers State in 2014, including the Afam, Eleme and Trans Amadi gas-fired power stations.

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