SECTOR – Energy and Gas Midstream

An independent power producer based in Ghana. Founded in 2009, the company offers sustainable and cost-effective power and gas midstream solutions, with revenue from the sale of electricity, natural gas, and natural gas liquids to mines and industrials. Their long-term strategy is to diversify into renewable energy generation throughout West Africa. Over the past thirteen years, the borrower has commissioned seven power plants. They also possess midstream assets, including natural gas pipelines and a Liquefied Petroleum Gas terminal in Takoradi.

Facility with collateral structures:

  • Mezzanine Facility to allow borrower to optimize its funding structure and fund further expansion of its operating assets along with the senior loans, with an 8-year structured corporate loan
  • The mezzanine facility is secured through a second lien over all physical assets, Power Purchase Agreement contracts, fuel supply agreements, offshore collection accounts, a 6-month debt service reserve account, and a pledge of 75% of the shares of the borrower.