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Accessing more affordable, more reliable electricity for tens of millions of people.

Country

Nigeria

Sector

Power

Senior Debt Provided

US$30 million

Raising long-term loan finance can still be difficult in many parts of sub-Saharan Africa, as was the case with the 2014 financing of a 450MW gas fired independent power plant in Nigeria. In addition to providing senior and subordinated loans totalling US$30 million, EAIF played a key role in negotiating the loan structure, which significantly contributed towards the project going forward.

A development by Azura-Edo independent power company, the transaction has a total value of US$865 million. 3.7 million households (22 million people) and numerous businesses will be able to access electricity from the national grid for the first time. They will be able to buy their electricity for substantially less than the non-grid prices. Family budgets will get a boost; businesses can consider expansion and new ventures and education and health facilities will be able to divert resources to more productive use. 1000 people will build the plant and 60 permanent staff operate the facility

Other projects

The Emerging Africa Infrastructure Fund has to date invested in 58 projects in 17 countries.

Tobene Power is building a new 96MW power plant for Senegal

Country: Senegal / Sector: Power

The Matelec Group, which controls Tobene Power, is developing a EURO124 million 96MW heavy fuel oil power (HFO) station. Signed in 2014, EAIF’s 15 year project loan of EURO25 million aids the company’s diversification and helps demonstrate investor confidence in the Senegal electricity sector.

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Manufacturing water pipes in Algeria

Country: Algeria / Sector: Infrastructure Components and Equipment

The availability of clean water can profoundly change lives and societies, improving health and hygiene, reducing domestic toil and raising crop fertility and reliability. Abundant, clean, available water can stimulate development in the food processing and tourism and hospitality sectors.

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Putting Rwanda’s Lake Kivu methane to productive use

Country: Rwanda / Sector: Gas Infrastructure

In Rwanda’s Lake Kivu, fresh water is mixed with naturally occurring methane gas. KivuWatt Ltd raised US$142 million – including a US$25 million loan from EAIF – to build a gas extracting plant and a 25MW power plant.

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