Savannah Energy PLC announced the signing of a Memorandum of Agreement by Savannah Energy Niger Solar Limited, a wholly owned subsidiary of Savannah, with the Government of the Republic of Niger (the " Government") for the development of two solar photovoltaic power plants with a combined installed power generation capacity of up to 200 megawatts. 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.