EAIF in Mozambique Power debt club deal

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The Emerging Africa Infrastructure Fund (EAIF) will be supporting the refinancing of Mozambique’s latest power station.

The fund has signed a Participation Agreement with the International Finance Corporation (IFC), and will be supplying US$21mn in a B loan to the plant.

The Central Termica de Ressano Garcia S.A. (CTRG) has also received support from other lenders, including ABSA Bank, Proparco, and FMO.

In total, the club lenders disbursed debt facilities has reached $189mn.

CTRG’s 175MW Ressano Garcia, located near the South African border, was completed and operational in 2015.

The EAIF is a member of the Private Infrastructure Development Group (PIDG), which also includes seven governments and the World Bank.

The UK, Dutch, Swedish, and Swiss governments all support the EAIF, as well as private sector banks such as KfW and FMO.

“In addition to the CTRG gas-fired plant and the Mocuba solar facility in Mozambique, in the past year we have signed hydro, solar, oil and gas power station transactions in Uganda, Senegal and Mali,” reported Nazmeera Moola, Head of EAIF at Investec Asset Management.

“Our depth of expertise across sub-Saharan Africa, increasingly in renewable energy, and in cleaner thermal generation technologies, energy markets and regulation means we bring added confidence to investors and help strengthen economic development in many parts of the continent.”