GHANA — Genser Energy Ghana Limited (‘GEGL’) has announced that it has successfully achieved financial close for a US$366 million funding package including a new syndicated senior loan facility of USD230m, a mezzanine loan and preference shares.
It also plans to increase the total capacity of its existing plants from 100MW to 190MW and invest in new 161kV transmission lines.
“I am delighted that we have closed this funding which is a transformational transaction for GEGL as it undertakes the expansion of its Ghana operations,” stated Baafour Asiamah-Adjei, GEGL’s President and CEO.
The DBSA operates across the entire infrastructure value chain which includes identifying, preparing and co-financing the development of infrastructure related initiatives in the Energy, Transport, Water and ICT sectors.
Nedbank recognizes the importance of sustainable power across the continent and the role of the private sector through independent power producers (IPPs) and have been funding power projects as a key participant in landmark transactions.
GEGL was advised in this transaction by Northcott Capital Limited an independent financial advisory company providing bespoke, creative and integrated solutions to the natural resources & energy sectors.