Clifford Chance

Clifford Chances advises Genser Energy on its USD366m Financing for the expansion of its Ghanaian operations

International law firm Clifford Chance advised Genser Energy in respect of its USD366m financing which includes a new syndicated senior loan facility, a mezzanine loan and preference shares.

The transaction provides funding for the expansion of Genser's growing operations in Ghana that includes on-site dedicated power plants and a gas distribution network. Genser's operations will help realise Ghana's new Energy Sector Reform Plan. Genser's growth represents the biggest step to date in the growing focus on independent energy solutions providers in the commercial and industrial sector that are able to deliver energy to consumers more efficiently and reliably that the troubled grids in the region.

The lending group includes the Standard Bank of South Africa, Nedbank, the Development Bank for Southern Africa and Barak Fund. The Clifford Chance team was led by Energy and Infrastructure partner Jeremy Connick and Director Olamide Oladosu.

Olamide Oladosu comments: "Getting this transaction done illustrates the unique combination of sector expertise, country knowledge and legal project management that our team offers clients in Africa. As the focus by developers and investors shifts to the commercial and industrial sector of the power industry where Genser operates, we continue to work with clients on the market-leading transactions that will help bring energy to where it's needed to power the continent's development."