Senelec becomes sole shareholder of West African Energy, resolving 366 MW power plant dispute
via SeneNews5 min read
Senelec, Senegal's national electricity company, has acquired full ownership of West African Energy WAE, becoming the sole shareholder of the company responsible for the 366-megawatt power plant at Cap des Biches. This move resolves a long-standing dispute among WAE's previous shareholders that had stalled the project. Senelec's stake in WAE increased from 15% to 100%, accompanied by a capital increase from 4 billion to 16 billion CFA francs to strengthen the project's financial foundation. Businessman Harouna Dia, former principal shareholder of WAE, revealed his role in facilitating this resolution. He stated that he approached Senegalese authorities, including Prime Minister Ousmane Sonko, to mediate the conflict. Dia met with Prime Minister Sonko in Ouagadougou in May 2025 during an official visit to Burkina Faso, where he advocated for government intervention to resolve the shareholder dispute and restart the project. Dia also mentioned contacting Sonko in December 2024 to discuss the situation, indicating that these discussions helped advance the matter. Prime Minister Sonko reportedly acknowledged Dia's concerns and affirmed his commitment to protecting Senegalese interests in the strategic energy project.
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This summary was AI-generated from a story originally published by SeneNews.
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