Endeavor reaches financial close on 50MW Te Power project in Guinea
Financial close has been reached on the 50MW Tè Power greenfield thermal power plant in Conakry, Guinea developed by majority owner Endeavor Energy, private equity firm Denham Capital and Mauritanian mining and power company Energie, Environnement et Mines (E2M).
Financing includes $32 million in equity from Endeavor and $89 million in debt from Overseas Private Investment Corporation (OPIC) and the UK's development finance institution CDC Group. OPIC also provided up to $30 million of political risk insurance.
Allen & Overy, along with local firms S.D. Avocats and Sylla & Partners, provided borrower counsel. DLA Piper acted for the lenders and Guinea was served by Nimba Conseil.
Sargent & Lundy served as lenders technical advisor and CDF Ingenierie and WSP | Parsons Brinckerhoff acted as owners’ engineer. Environmental Resources Management (ERM) was the owners’ environmental and social consultant, while Alliant Emerging Markets served as the insurance broker and consultant.
