27/05/2015 Dakar, Senegal Nebras Power QSC has signed on May 27, 2015 a memorandum of understanding with the National Electricity Company of Senegal and Mitsui Company from Japan for studying an energy related project in the Republic of Senegal. The signing ceremony was held at Ministry of Foreign Affairs in the capital city Dakar and in the presence of their Excellencies Minister of Foreign Affairs and Minister of Energy, His Excellency Mr. Saree Ali Mahdi Al-Qahtani - Ambassador of Qatar in Senegal. Nebras Power was presented by Mr. Khalid Mohammed Jolo - CEO of the company, and Mr. Faisal Obaid Al Siddiqi - Business Development Director, and Mr. Thomas McKay - Business Development Department. The signed Memorandum of Understanding aims to develop a general framework for cooperation between the parties and facilitate the ways of cooperation between them. According to the MoU, both Nebras Power and Mitsui will do a feasibility study for a project includes development, financing, construction, operation and maintenance of Floating Storage and Regasification Units (FSRU) and a power plant that would use the natural gas as fuel in the Republic of Senegal. This project will be the first of its type in Senegal, will be selling the electricity generated to the National Electricity Company of Senegal through a long-term Power Purchase Agreement (PPA). On the sidelines of the signing ceremony, the Qatari-Japanese delegation has met with His Excellency President Macky Sall - President of the Republic of Senegal, who in turn welcomed the members of the delegation and expressed his happiness with this cooperation and wished the project success. In turn, Mr. / Khalid Jolo expressed his thanks to His Excellency for the warm reception and support he has shown, and praised the excellent relations between the State of Qatar and the Republic of Senegal. Commenting on the agreement Mr. / Khalid Jolo - CEO of Nebras Power – said: "This memorandum of understanding comes within the framework of promoting economic cooperation between Qatar and Senegal, and we hope to lay the foundations for a strong and long-lasting relationship. We also hope that as a result of implementation of this MoU to reach to high levels in the common economic relations." Mr. Jolo added: "We seek to get Nebras Power first investment in the Republic of Senegal, and we hope that by this project we will be supporting the electricity needs in Senegal and also contributing to stimulate the Senegalese economy. We will ensure that the latest available technology would be implemented in the project and at competitive prices ". At the conclusion of his speech, Mr. Jolo wished success to all the participants in the project.
