IFC leads €303m financing for Atinkou power plant in Ivory Coast
The International Finance Corporation has arranged a €303 million financing package for a new €404 million gas fired power project in Côte d’Ivoire.
The new project consists of a 20-year concession to develop and operate a 390MW natural gas-fired power plant – called Atinkou - located about 40km west of Abidjan.
IFC arranged the full debt financing package of €303 million which, beyond IFC, was provided by the African Development Bank, Dutch development bank FMO, Germany’s Deutsche Investitions- und Entwicklungsgesellschaft, the Emerging Africa Infrastructure Fund, and the OPEC Fund for International Development (OPEC Fund). IFC is also providing a €91 million loan for its own account, as well as interest rate swaps to hedge the project’s interest rate risk.
The sponsor of the project is the Eranove Group, an industrial group that manages a number of water and electricity assets in West and Central Africa.
