Amandi Energy has reached financial close and started construction on the $552-million Amandi Energy Power Plant, a 200 MW combined cycle, dual-fuel power project in Aboadze, Ghana.
Fieldstone Africa advised the project company from early in its development in mid-2013 through to financial close.
It successfully led the equity capital raise and debt structuring for the project’s financing. Amandi Energy is the first project-financed independent power producer (IPP) in Ghana to achieve financial close since the Cenpower Kpone IPP in 2014.
“We are very pleased to have advised on the successful financing of Amandi Energy. Fieldstone Africa is committed to solving the difficult financing challenges faced by the infrastructure sector across the region and continent,” says CEO Jason Harlan.
The $552-million funding required for the Amandi project comprises $134-million in equity from the sponsor group, which includes Endeavor, AFG, Aldwych, Pan African Infrastructure Development Fund 2 managed by Harith General Partners, and ARM-Harith Infrastructure Fund.