Nyamwamba ll hydroelectric power plant secures US$10m financing from EAIF

UGANDA – The Emerging Africa Infrastructure Fund (EAIF), a financing facility of the Private Infrastructure Development Group (PIDG), has confirmed its financing for the Nyamwamba ll hydroelectric power plant in Uganda. The US$10.6 million loan is being provided to its developer Serengeti Energy which will be repaid over 17 years. This financing is a further step towards the financial closure…

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EAIF provides US$35m loan to 40MW Kesses solar generation facility

KENYA – The Emerging Africa Infrastructure Fund (EAIF), which is part of the Private Infrastructure Development Group (PIDG) has provided a US$35 million loan over a 15-year term to the 40MW Kesses solar generation facility to be built near Eldoret in the Rift Valley region of Kenya. The first part of the loan was disbursed to Alten Kenya Solarfarms BV…

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Mozambique’s first solar-plus-storage project reaches financial close

MOZAMBIQUE – The Cuamba solar-plus-storage project in Mozambique being developed by African-focused independent power company Globeleq and its project partners, Source Energia, a Lusophone Africa energy developer, and Electricidade de Moçambique (EDM), the Mozambican national power utility has reached financial close. The project will consist of a 19MWp (15MWac) solar plant, plus a 2MW (7MWh) energy storage system.  “With the ongoing challenges due to…

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Ivoire Hydro Energy secures US$29m from EAIF for the development of 44MW hydro electricity generation plant

CÔTE D’IVOIRE – Ivoire Hydro Energy (IHE) has secured €25 million (US$29.46m) from The Emerging Africa Infrastructure Fund (EAIF), a Private Infrastructure Development Group (PIDG) company, for over 18 years build a 44MW hydro electricity generation plant. The plant will be on the Bandama River near the village of Singrobo in Côte d’Ivoire and is forecast to take some 36…

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Power producer Globeleq and partners starts construction on first solar energy storage in Mozambique

MOZAMBIQUE – Power producer Globeleq, Source Energia and Electricidade de Moçambique (EDM) have begun construction on the first independent power producer (IPP) in Mozambique to integrate utility-scale energy storage with a solar PV plant. The 19MWp (15MWac) solar PV plant and 2MW (7MWh) energy storage system will be located in the Tetereane District of the city of Cuamba in the…

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Burkina Faso secures US$34m from EAIF for the construction of 30MW solar plant

BURKINA FASO – Emerging Africa Infrastructure Fund (EAIF) has provided US$34.59 million to Burkina Faso to support the construction of 30MW solar plant which will supply national grid. EAIF, a member of the Private Infrastructure Development Group (PIDG) is lending the project’s developer, Urbasolar SAS, 80% of the capital needed for the construction of the facility which is estimated to…

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Infrastructure fund EAIF to buy US$50m of a bond issue by Liquid Telecom

SOUTH AFRICA – The Emerging Africa Infrastructure Fund (EAIF) has committed to buy up to US$50m of a bond issue by Liquid Telecoms, that is being launched in February 22, 2021. The bond aims to raise US$600m, which will be used to refinance existing debt and for corporate purposes. The issuer will be Liquid Telecommunications Financing, a wholly-owned subsidiary of…

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PIDG, EAIF invest US$15M in the relocation of Port of Dakar to new greenfield site

SENEGAL – Private Infrastructure Development Group (PIDG) has partnered with the Emerging Africa Infrastructure Fund (EAIF) to invest US$15 million in a local currency capital market bond issue by Senegal’s Port Autonome de Dakar (PAD), owner of the Port of Dakar. The issue marks the start of the process of relocating the capital city’s port and its operations to a…

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Emerging Africa Infrastructure Fund, Proparco back WIOCC expansion

AFRICA – Private Infrastructure Development Group (PIDG) company, the Emerging Africa Infrastructure Fund (EAIF) has loaned $40m over 10 years in a debt package of $100m raised by the West Indian Ocean Cable Company (WIOCC). Proparco, the French development finance institution was the transaction’s mandated lead arranger of the debt finance and is lending $60m of the $100m. The new…

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Nigeria’s Genesis Holding secures funding from EAIF to build new gas power plant in Benin

BENIN – Genesis Holdings, a Nigerian based energy company, has secured funding from the Emerging Africa Infrastructure Fund (EAIF) for the construction of a 25MW gas power plant in Benin. EAIF- a Private Infrastructure Development Group (PIDG)- stated in a statement that it will be funding the Gas power project being developed by Genesis Holdings to a tune of US$42.44…

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