The company announced the retirement of Sir Stephen O’Brien and David Clarkson from the Board, extending its sincere thanks to both for their dedication and service as Directors over the past eight years.

It said that during their tenure they have been instrumental in supporting the Company’s governance framework and Board processes.

Savannah also announced the intended appointments of Uyi Akpata and Kehinde Olamide Ogunwumiju as Independent Non-Executive Directors.

Uyi and Kehinde bring significant experience in audit, finance and legal affairs, further strengthening the Board’s capabilities in these key areas.

Upon joining the Board, Mr Akpata is expected to serve as Chair of the Audit Committee.

Joseph Pagop Noupoué, Chairman of Savannah, commented:

“The changes announced this morning form part of Savannah’s ongoing and dynamic Board succession planning process, which is designed to evolve in step with the Company’s strategic direction, operational priorities, and growth trajectory.

On behalf of the Board, I would like to wish Sir Stephen and David every success in the future. As part of our structured approach to Board renewal, their agreed retirement reflects the natural progression of our governance planning. That said, both have been highly valued colleagues whose insight, integrity, and presence around the Board table will be genuinely missed. We are delighted that both have agreed to take on ongoing consultancy roles, ensuring the Company can continue to benefit from their extensive experience and deep understanding of our business. We wish them every success in the future and thank them wholeheartedly for their service.

I am also delighted to welcome Uyi and Kehinde as incoming Directors. Both are internationally respected professionals in their respective fields – finance and legal – and have proven track records supporting dynamic, high growth organisations. I believe their expertise will be instrumental as Savannah continues its growth trajectory across Africa.”

Sir Stephen O’Brien, Retiring Vice Chair and Non-Executive Director, Savannah, commented:

“Having been involved with the Company since its very inception 11 years ago, and after eight stimulating years as Vice-Chairman of Savannah, I am stepping down with pride in what has been built together as a team. Over this time, Savannah has transformed into a leading African energy company, advancing projects across the continent in both hydrocarbons and renewables. I am pleased to have had the opportunity to contribute to our journey. I wish everyone at Savannah every success and look forward to maintaining my support for the company in a new political advisory role.”

David Clarkson, Retiring Non-Executive Director, Savannah, commented:

“Since joining the Board in 2017, I have enjoyed a wonderful journey with Andrew and my Board colleagues as Savannah grew in stature delivering Projects That Matter. I wish the Company every success as it continues to build sustainable businesses across its portfolio of opportunities. I look forward to supporting the Company as Technical Advisor to the Board.”

The plants are with a combined installed power generation capacity of up to 200 megawatts.

A signature ceremony was held yesterday in Niamey attended by Ibrahim Yacoubou, Minister of State for Energy and Renewable Energies, Catherine Inglehearn, British Ambassador to the Republic of Niger, and Yacine Wafy, Savannah’s Vice President West Africa. 

The two proposed solar plants are expected to be located within 20 km of the cities of Maradi and Zinder, respectively, in southern Niger.

Each plant is expected to have an installed capacity of between 50 and 100 MW, for a total potential installed capacity of up to 200 MW.

The Solar Projects are expected to: generate reliable, affordable energy for Niger; increase overall grid connected power generation in the country by over 20%; and avoid an estimated up to 260,000 tonnes of annual CO2 emissions.

The Solar Projects are expected to be connected to the South-Central section of Niger’s electricity grid, which is forecast to be interconnected to the Western electricity grid zone (which serves Niamey) by 2026, as part of a World Bank funded project.

Following the anticipated completion of the required project feasibility studies over the course of the next 12 months, the Solar Projects are expected to receive project sanction in 2024, with first power targeted in the 2025 to 2026 window.  

Savannah expects to fund the Solar Projects from a combination of its own internally generated cashflows and project specific debt. 

Ibrahim Yacoubou, Minister of State for Energy and Renewable Energies for the Republic of Niger, said: 

“I am delighted to participate in today’s signature ceremony for a Memorandum of Agreement with Savannah Energy for the construction and operation of two new solar power plants, up to 200 MW in scale, to be located in the Maradi and Zinder regions of Niger. These projects are an example of the Republic of Niger’s strategy to increase electricity access for our people at an affordable cost through an expanding energy mix, as we have outlined in our National Strategy of Energy Access (“SNAE”) and our National Policy Document on Electricity (“DPNE”).  

These projects come in addition to the up to 250 MW Parc Eolien de la Tarka, the wind farm project signed with Savannah last year, which has strong momentum and is expected to start construction in 2024. In aggregate, the wind and solar projects Savannah is developing in partnership with the Government of Niger have the potential to increase the on-grid power supply in country substantially. These projects are crucial for Niger’s economy, potentially improving the lives of millions of Nigeriens by providing them with life changing benefits from energy access. 

I would like to warmly welcome the support of the British Ambassador to Niger for these projects. Today we have witnessed her personal commitment to mobilising British companies to come and invest in Niger; with the UK’s wider commitment to Niger evidenced by the investment round table that His Excellency President Bazoum spearheaded recently in London. 

Lastly, I would like to wish every success for these projects. May God help us achieve the goals we have set ourselves, and both personally and on behalf of the Government of Niger, Savannah can count on our wholehearted support for the development of the Tarka wind farm and the Maradi and Zinder solar power plants, to ensure they can be brought to fruition.” 

Catherine Inglehearn, British Ambassador to the Republic of Niger, said: 

“I am pleased that Savannah, as a British company, continues to make significant investments in Niger’s energy industry. Foreign investment such as this is crucial for Niger’s continued social and economic development and we welcome Savannah’s support. Following the investor roundtable with President Bazoum in London on 5 May 2023, this is evidence of the United Kingdom’s strong continued commitment to Niger.” 

Andrew Knott, CEO of Savannah Energy, said: 

“I am delighted that we are announcing the signing of our Niger Solar Projects MOA. These are exactly the sort of high developmental impact projects our renewable energy division is seeking to deliver, with the potential to increase on-grid electricity supply in country by over 20%. We look forward to working with the Government of Niger as we seek to advance these projects through their development and construction phases towards first power in the 2025 to 2026 window.  

I would like to thank His Excellency Ibrahim Yacoubou, Minister of State for Energy and Renewable Energies, the wider Nigerien Government and the British Embassy in Niger for their support for these projects. We look forward to working with Niger and our developmental finance partners over the course of the coming years as we move the projects through the feasibility and construction phases towards our planned first power dates in the 2025 to 2026 window.  

As a company, Savannah has successfully created a large portfolio of high quality greenfield renewable energy development projects in the hydro, solar and wind sectors over the course of the past 18 months. We will continue to work towards achieving our target of having up to 1GW+ of renewable energy projects in motion by end 2023 and expect to update on further progress towards achieving this goal over the course of the coming months.”