Solar portfolio structures $120M in project finance.
$120M Project FinanceThe project
An 85MW portfolio of grid-connected solar assets across two East African markets, held by an experienced regional developer with operating assets already producing. The pipeline was real. The capital to build it was not.
The challenge
International project finance does not respond to ambition, it responds to bankability. The developer had strong assets and offtake agreements, but the documentation, risk allocation and structure were presented in a form regional banks accept and international funders do not.
What GI Network did
The opportunity was rebuilt to the standard institutional energy funders require: independent resource assessments referenced up front, offtake and currency risk addressed in the structure rather than the appendix, and the portfolio split into fundable phases with clear draw schedules.
It was then taken to funders in the network with live appetite for African renewables: a development finance-backed lender for the senior debt and an infrastructure investor for the development capital.
The outcome
A $120M structure was agreed across senior debt and development capital, phased against construction milestones. The developer kept operational control, and the first phase moved to financial close.
Illustrative of the kind of raises moving across the network. Company details have been generalised and client identities remain private.
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