Private Equity-backed Themis, an Africa-focussed power company based in Morocco, has announced a new partnership with Kingline Development Nigeria Limited (Kingline) to develop a 550MW natural gas-fired power plant in Ondo State, Nigeria. At a project cost of approximately $600 million, the plant is set to become one of the world’s lowest cost natural gas-fired power plants. State-run Nigerian Bulk Electricity Trading Company (NBET) will buy electricity from the Ondo plant for a period of 20 years on a take-or-pay basis, officials said. Neo Themis was set up in 2018 under a partnership between Themis and Denham Capital, a global energy-focused private equity firm, acting through its International Power Fund, to launch the Africa Power Investment Platform. The team was headquartered in Morocco through the incorporation of a new company, Neo Themis.

Source: The North Africa Journal March 20, 2019 13:18 UTC