Emerging Africa Infrastructure Fund Invest in Senegal and Mozambique

Tuesday, June 20, 2017

by Business Council for Africa

Emerging Africa Infrastructure Fund backs better future for Senegal with €6.6 million loan to expand power station

In a boost to the independent power sector in Senegal, the Emerging Africa Infrastructure Fund (EAIF) is increasing its lending to Melec PowerGen (Matelec Group), the owner and operator of the Tobene power station in Senegal. The new B loan of €6.6 million is part of the financing of an expansion of the plant. The first phase, which EAIF also lent to, was completed on time and within budget. It began producing power in 2016. “Tobene ll” involves adding a new 19MW generating set to the existing 96MW facility. Installed capacity will
increase to 115MW. Loans provided by EAIF now total €31.6 million. The new €6.6 million tranche has a term (tenor) of 13 years.

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Emerging Africa Infrastructure Fund backs US$76 million 40MW solar farm in Mozambique 

Project is key to development strategy for SMEs in rural Mocuba region The Emerging Africa Infrastructure Fund (EAIF / the Fund), which is part of the Private Infrastructure Development Group, has signed a Participation Agreement with the International Finance Corporation (IFC) to provide a
US$16.9 million B Loan, with a +16-year term, to Central Solar de Mocuba (CESOM), the private sector developer of the Mocuba solar farm in Northern Mozambique. In addition, EAIF is directly providing a US$7m Viability Gap Funding Grant for the Project raised from the Technical Assistance Facility (TAF) of the PIDG. The US$76 million plant is due to be completed in mid-2018. It will be a core element in the Mozambique government’s strategy of incentivising the creation of small and medium-sized businesses in the mainly rural Mocuba area. EAIF’s umbrella organisation is the Private Infrastructure Development Group (PIDG). Seven governments (and merging Africa Infrastructure Fund backs US$76 million 40MW solar farm in Mozambique. 

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