African Renewables Deal of the Year (2014) by the PFI Awards (Thomson Reuters)
African Renewables Deal of the Year (2014) by IJ Global (Infrastructure Journal and Project Finance Magazine).
MetroWind Van Stadens Wind Farm is a 27MW operational wind farm situated in the Nelson Mandela Bay Municipality (NMBM) in South Africa’s Eastern Province. This R550 million renewable energy project, commissioned in February 2014 is one of the first in South Africa, provides around 80 million kWh/year of energy into the NMBM grid and is an identified strategic economic development project in the region. The facility comprises 9 No 3 Sinovel 3000SL wind turbine generators. The project reached financial close in November 2012 as a successful bidder in the South African government's renewable energy independent power producer programme. The project was developed between AfriCoast and Basil Read Energy.
IC Partner led negotiations and secured arranging mandate for World Bank’s Partial Risk Guarantee (“PRG”) senior debt tranche of US$57.5 million for the 250MW Run-of-River Bujagali Hydroelectric Project in Uganda. Total project value was US$870 million. In March 2008 Bujagali won the Euromoney award for African Power Deal of the Year. The sponsors were the Aga Kahn Fund for Economic Development and Sithe Global (a Blackstone Group subsidiary). The power purchase agreement is with the Uganda Electricity and Transmission Company. The debt arrangers were Absa Capital and Standard Chartered Bank for the PRG tranche, and bi- and multi-lateral arrangers were the IFC, AfDB, EIB, FMO, DEG and Proparco
Lake Turkana Wind Power (LTWP) Project, located in Kenya, is the largest wind power project in Africa. IC Partner responsible for the structuring of an
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IC Partner roles In 2000/2001 included arranging and underwriting a 15-year, US$131 million project finance facility for the Iskenderun Power Project, a US$1.36 billion, 1210MW coal-fired power plant in Turkey. Absa Capital was the Lead Arranger, Underwriter and Agent Bank of the US$131 million export credit facility. The sponsor was Steag, Germany and the EPCM contractor was Siemens. The lead banks were Absa Capital, Dresdner Kleinwort Wasserstein, West LB (OeKB & Hermes) and KFW (GKA)
Rabai Power Limited, located in Mombasa, Kenya.
IC Partner's role was leading on the structuring and arranging of a convertible loan facility for Aldwych Holdings’ equity investment for 34.5% of Rabai Power, a 90MW heavy fuel oil plant in Mombasa, Kenya.
Equity investment : US$9 million
Private Infrastructure Development Group facility with Emerging Africa Infrastructure Fund (EAIF) as lead arranger for this transaction, lending €22.57 million. EAIF arranged development finance institution consortium providing further long term debt to the project through FMO and Proparco €84.64 million.
In 2011, PIA Solar brought together an team of executives with a proven history of managing international companies and complex projects. IC Partners (AfriCoast Investments) were pivotal in creating this unique team into a successful specialised turnkey company. The skills within the team encompass all elements of an international turnkey installation. The company has developed a unique ground anchor and support frame system designed for South African conditions with full South African content and its won in-house developed horizontal solar tracer system. PIA Solar is a respected player in the solar PV industry with a track record of quality and delivery. AfriCoast Investments owns 33% of PIA Solar SA in partnership with the founding members.
AES Nigeria Barge is located in Lagos, Nigeria. IC Partner's main role was arranging Absa Capital’s US$10 million participation in US$120 million project financing for AES Nigeria Barge. Project comprises of 9 barge mounted gas fired turbines, collectively producing nameplate capacity of 270MW. The sponsor is the AES Corporation, with a Power Purchase Agreement with Power Holding Corporation of Nigeria (formerly known as NEPA). The PRI Underwriter is the Overseas Private Investment Corporation.
Henri Konan Bédié Toll Bridge Project located in the Ivory Coast. IC Partner was part of a team involved in negotiating and structuring a mezzanine investment into a project company for the development of a toll bridge in
Abidjan. Total development cost was €272 million. The Lead Developer was Bouygues Travaux Publics.
Lenders include West African Development Bank, Islamic Development Bank and African Development Bank. MIGA has provided cover for certain debt facilities. Awarded the Euromoney Project Finance Magazine African Transport Deal of the Year 2012.
equity investment to take up to 25% shareholding in a 310MW wind power project near Lake Turkana in North West Kenya. The LTWP consortium comprising KP&P Africa B.V and Aldwych International as co-developers, Investment Fund for Developing Countries, Vestas Eastern Africa Limited, Finnish Fund for Industrial Cooperation Ltd, KLP Norfund Investments AS and Sandpiper.
Date of Investment was September 2014, and total project value: $870 million
LTWP has won three prestigious awards:
African Infrastructure and Project Finance Deal of the Year (2015) by The Banker