60MW Red Sea Power Wind Farm Project in Ghoubet

The first wind farm project in Djibouti, representing a significant milestone for the country on its path towards achieving its goal of 100% electricity from renewable sources by 2030.

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70%

of country's energy imported from Ethiopia

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75%

Increase in demand for supply in the last 10 year

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67MW

amount effectivite generation capacity is limite to.

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60MW

Amount Red Sea Power is adding to the grid by 2021

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Project Insights

The Red Sea Power Project involves the construction and operation of a c.60 MW Wind Farm, and interconnection facilities compromising of a 220MVA substation and 5Km overhead transmission line to connect to the Electricité de Djibouti ("EDD") substation. The Project is located 120Km outside the city.

The Ghoubet substation is part ot the c.74Km high voltage double circuit transmission line, being constructed by Shanghai Electricity Power ("SEP") on behalf of Electricité de Djibouti.

The project is the first wind farm project in Djibouti, representing a significant milestone for the country on its path towards achieving its goal of 100% of electricity from renewable by 2030.
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Roadmap and Milestone

November 2018

Execution of JDA by the Sponsors Update of the feasability studies by Tractebel.

February 2019

Preliminary geotechnical campaign (Tractebel)

April 2019

Installation of met-masts EPC and O&M tender & selection.

May 2019

Completion of ESIA (ERM)
Final tac advice (Deloitte)
PPA and Implementation Agreement.

July 2019

Financial Model Audit (Deloitte)
Finanl Insurance Advice (INDECS)
EPC and O&M Contract Execution
MIGA PRI Package

December 2019

Equity Financial Close and NTP

December 2021

Commercial Operations
Senior Debts Financing

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Fundings Companies

Supporting Djibouti to meet energy demands and transition towards 100% renewable energy-based electricity production by 20230.

Africa Finance Corporation (AFC), Climate Funds Manager (CFM), FMO, the Dutch Entrepreneurial development bank and Great Horn Investment Holdings (GHIH) are pleased to announce a landmark investment for the construction and operation of 60MW windfarm in the Ghoubet area, near Lake Assal in Djibouti.

Board of Directors

Mr. Aboubaker Omar Hadi 

Chairman of Red Sea Power

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Ms. Yezdan Akcacakir 

Director of Red Sea Power

Yezdan is a seasoned professional with over 28 years of experience specialized in corporate and project finance and covered energy projects across Middle East, America and Africa. 

Mr. Osaruyi Orobosa- Ogbeide 

Director of Red Sea Power

Osaruyi is the Deputy Director and Head of Project Development and Investments at the Africa
Finance Corporation (AFC), where he leads the Corporation's project development, business
development, and project origination activities across Africa.

Mr. Rinse Geuzendam 

Director of Red Sea Power

Mr. Geuzendam serves as a Non-Executive Director on the Board of RED SEA POWER Limited SAS, representing FMO, the Dutch entrepreneurial development bank.

Ms. Albane Psaume 

Director of Red Sea Power

Albane Psaume is an Investment Director at Climate Fund Managers (CFM), responsible for deal origination, execution and asset management across Africa. 

Mr. ...
....

Director of Red Sea Power

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The Red Sea Power involves the construction of a c.60MW Wind Farm in Ghoubet, Djiboujti, 120km from the city. The project also involves consutrction and operation of interconnection facilities compromising of a 220 MVA substation  and 5km overhead transmission line to connect to the nearest Electricité De Djibouti ("EDD") substation.

Get in touch

+ 253 21 350233

HEAD OFFICE

Moulk Center, Avenue Gandhi, Gabode 3
Djibouti

Working Time

SUN- THR…… 08h - 17h
FRI, SAT....… Weekend

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