Clifford Chance

Clifford Chance advises the Genser Energy Group on US$125m investment agreement

International law firm Clifford Chance has advised the Genser Energy Group (“Genser Energy”) on successfully concluding an investment agreement with OP Energy Holdings Limited, a 100% subsidiary of Oppenheimer Partners Limited (“OP”). OP will invest USD125m to subscribe for 125,000 units of redeemable convertible preference shares in a newly formed parent company, Genser Energy Investments LLC (“GEIL”) in Delaware, United States.

This investment comes a year after a USD366m financing for Genser Energy's expansion in Ghana which included a new syndicated senior loan facility and a mezzanine loan. Genser's expansion in Ghana has been a demonstration of the growing focus on independent energy solutions providers in the commercial and industrial sector that are able to deliver energy to consumers efficiently and reliably.

The preference share proceeds will primarily be used to fund Genser Energy’s expansion in West Africa and partly redeem existing preference shares. The transaction involved entities across four African jurisdictions, Jersey and the United States and required the seamless multi-jurisdictional and cross-practice offering that clients turn to Clifford Chance for.

Olamide Oladosu comments: "We are delighted to have been able to continue to support Genser in its journey to become the leading sustainable distributed generation energy solutions provider in Africa. This transaction represents a further step towards meeting the energy demand in Africa and further highlight's our team's leading experience in Africa's commercial and industrial energy sector."

The deal team was led by John Wilkins and Olamide Oladosu in London and assisted in London by Prakruthi Gowda, Yemi Adekoya and Boma George (Energy & Infrastructure) and in New York by Matthew Warner and Hanah Kim (Corporate), John McManmon (Finance) and Jason Sacks (Tax).