Norton Rose Fulbright advises Ministry of Finance of the Republic of Angola on three major infrastructure projects

Global law firm Norton Rose Fulbright has advised the Ministry of Finance of the Republic of Angola on the financing of three major infrastructure projects supported by Export-Import Bank of the United States (US EXIM).

• A US$872,224,683 loan facility for the construction of two photovoltaic solar energy power plants. The plants will be constructed by Sun Africa and the project and financing is supported by US EXIM. This investment represents the largest renewable energy transaction in US EXIM’s history. The projects will generate more than 500 megawatts of renewable power to the region’s national grid, providing access to clean energy resources across Angola whilst supporting the country’s climate commitments.
• A US$343,630,592 loan facility for the engineering, procurement, and construction of 186 bridges, roads, and associated infrastructure throughout Angola. Angola has partnered with Acrow Corp. to modernize crucial road and transportation infrastructure and connect communities across the region. The financing was arranged by Standard Chartered Bank (SCB) as the lead arranger, Private Export Funding Corporation (PEFCO) as lender, and guaranteed by US EXIM.
• A US$41,788,923 loan facility for the importation, supply and installation of FM transmitters, towers, training and other equipment and services to Angola’s state-owned national radio broadcaster, Radio Nacional de Angola to expand analog FM radio transmission to 95 per cent of the region’s population. The infrastructure investment was arranged by Deutsche Bank as lead arranger Private Export Funding Corporation (PEFCO) as lender and guaranteed by US EXIM. 

The cross-border team at Norton Rose Fulbright was led by Head of Banking and Finance, Europe, Middle East and Asia Madhavi Gosavi and counsel Jessica Melville, who are both based in London. They were supported by Washington, DC-based project finance partner Marissa Leigh Alcala.

Madhavi Gosavi commented: "We are proud to have worked on these landmark transactions, which will play a pivotal role in the future of the region. The upgrade and modernization of key infrastructure across the country is essential to Angola achieving its economic and development goals."