Savannah unveiled its first renewable energy project, a 250 MW wind farm in Niger called Parc Eolien de la Tarka, in March of last year. Savannah is a firm supporter of Africa’s shift to renewable energy, as seen by their investments in the sector.
With a rapidly expanding pipeline of solar, wind, and hydro power projects, the firm aspires to become one of the major renewable energy development companies in Africa over the next two years, with 1 GW+ of projects in motion by the end of 2023 and 2 GW+ by the end of 2024.
Overall, Savannah’s operational and financial performance in 2022 was excellent and impressive, exceeding the goal it had set for the year. To $290.4m, total revenues increased by more than 25%. This makes FY22 the sixth consecutive year of total revenue growth for Savannah’s Nigerian business, representing a CAGR of 21% since the business was acquired in 2017.
During this six-year period, the company doubled its customer base and increased the share of Nigeria’s thermal power generation capacity that it supplies from 10per cent to 24per cent.