Savannah Energy Plc, a UK-based independent energy firm, has reported revenue of $185.2 million for the first nine months of 2025, marking a 9% increase from the $169.3 million recorded during the same period last year.
In its latest unaudited financial update, the company revealed a 5% rise in cash collections to $241.6 million, while its cash reserves surged to $101.8 million as of September 2025—up from $32.6 million recorded at the end of 2024. Savannah also reported a slight drop in net debt to $629.9 million and a 9% reduction in trade receivables to $493.3 million.
The company said it had secured a deal with five Nigerian banks to expand its Accugas debt facility from ₦340 billion (about $222 million) to ₦772 billion (roughly $500 million). The move, according to Savannah, will help refinance the remaining balance of its existing Accugas facility before the end of 2025.
In addition, the firm’s subsidiary, Savannah Energy EA, signed a term sheet with a major African lender for a new $37.4 million debt facility. The funding will support its planned acquisition of a 50.1% stake in Klinchenberg BV, a company that holds indirect interests in three East African hydropower projects.
To strengthen its capital base, Savannah announced plans to raise £11.3 million through the issuance of 161 million new ordinary shares at seven pence each. The firm also expects to complete the final phase of its earlier March 2025 fundraising round—worth £9.7 million—soon.
The company further confirmed that Nigerian energy giant NIPCO intends to acquire about a 19.4% stake in Savannah through a mix of new share subscriptions and secondary market purchases worth approximately £28.7 million.
On the operational side, Savannah reported average daily production of 20,100 barrels of oil equivalent (boepd) in Nigeria during the review period, with gas making up 85% of total output. The company said its ongoing expansion at the Stubb Creek asset has increased production by 24% compared to last year, reaching 3,300 barrels of oil per day.
Savannah Energy continues to focus on strengthening its presence in Nigeria’s gas market while expanding its renewable energy footprint across Africa.
