HomeIndustry SectorsFinance and PolicyMali: 50MW solar PV farm reaches financial close

Mali: 50MW solar PV farm reaches financial close

Global law firm, Norton Rose Fulbright, has successfully closed the financing facilities on a 50MW solar photovoltaic (PV) plant in Sikasso, Mali for the first French green Independent Power Producer, Akuo Energy.

The Kita solar farm is its first project to begin construction in Africa and is the largest in West Africa, according to a company statement.

The project has been in development by Akuo Energy since 2014, with Norton Rose Fulbright advising on the transaction since July 2016. Read more: Global electrification goals to drive microgrid market

The firm’s teams in Johannesburg and Paris represented the following Lenders:

  • The Emerging Africa Infrastructure Fund Limited (acting through its agent and investment manager Investec Asset Management Proprietary Limited)
  • Banque Ouest Africaine de Développement
  • Banque Nationale de Développement Agricole
  • Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V. (FMO)

Head of Banking and Finance at Norton Rose Fulbright South Africa, Jackie Midlane, who led on the transaction, said: “We are proud to have played a key role in the region’s most high-profile, innovative transactions.”

Ashley Theron
Ashley Theron-Ord is based in Cape Town, South Africa at Clarion Events-Africa. She is the Senior Content Producer across media brands including ESI Africa, Smart Energy International, Power Engineering International and Mining Review Africa.