Global law firm Norton Rose Fulbright has advised leading power company Genser Energy (Genser Energy) on a preference shares investment from Africa50.
Genser Energy is an independent power producer that provides cutting edge energy solutions to industrial, mining & mini grids in West and Central Africa. Genser Energy’s vision is to become the leading energy solutions provider in Africa.
Africa50 is a new platform to complement the financing of infrastructure by the African Development Bank, other multilateral development banks, and private investment funds. Africa50’s equity investment into Genser Energy is intended to support the company’s future growth plans and is part of a larger debt and equity funding package to finance Genser Energy’s construction of gas pipelines, expand capacity, enter into new power purchase agreements and refinance debt.
With the closing of this financing and senior lending facilities, Genser Energy intends to build over 170km of natural gas pipelines (connecting its existing plants with the Ghana National Gas Corporation’s facilities), increase the total capacity of its existing plants from 100MW to 190MW and invest in new 161kV transmission lines.
The team advising Genser Energy was led by London-based Corporate partner Bayo Odubeko and included Corporate associate, Oji Adoh.
Bayo specialises in cross-border acquisitions, disposals, joint ventures and investments across Africa. Bayo regularly advises across the energy value chain from power development to oil and gas transactions.
Norton Rose Fulbright has advised on deals in Africa across all major industry sectors for more than 30 years, advising both on transactions and on-going commercial operations. The firm also assists clients in building their businesses both on the continent and internationally.