Ivory Coast’s $436 Million Project Financing

Hughes Hubbard & Reed assisted the government of Ivory Coast on the financing of the construction of the new Atinkou combined-cycle power plant.

Located in Jaqueville, near Abidjan, the new 390MW combined-cycle plant will increase the electricity production of Ivory Coast, whose goal is to reach a capacity of 4,000 megawatts by 2020 while diversifying its energy mix.

By exporting to neighboring countries, particularly Ghana, Burkina Faso and Liberia, Ivory Coast is strengthening its position as a key player in energy production in West Africa.

The project is sponsored by the Eranove Group and will be implemented through Atinkou, who will also build and operate the plant.

Lenders supporting the project include the International Finance Corporation (IFC), the African Development Bank, Deutsche Investitions Und Entwicklungsgesellschaft (DEG), Emerging Africa Infrastructure Fund, and the OPEC FUND.

Hughes Hubbard & Reed team included partner Sena Agbayissah (Picture) and counsels Rhidian David and Agnès Braka-Calas.

Involved fees earner: Sena Agbayissah – Hughes Hubbard & Reed; Agnès Braka‑Calas – Hughes Hubbard & Reed; Rhidian David – Hughes Hubbard & Reed;

Law Firms: Hughes Hubbard & Reed;

Clients: Republic of Ivory Coast;