Mainstream Energy Solutions Limited (IFC-36885)

Countries
  • Nigeria
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Bank Risk Rating
A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Feb 16, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
MAINSTREAM ENERGY SOLUTIONS LIMITED
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • Hydropower
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 253.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 253.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 27, 2017

Disclosed by Bank Feb 16, 2017


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Project Description
The proposed project consists of: i) refinancing of existing debt; ii) financing a Capacity Recovery Plan which is expected to restore the plants to their nameplate capacity of 1,338 MW and iii) contingencies and transaction costs. Total project cost is estimated at US$ 253 million. IFC proposed investment will include providing and mobilizing convertible debt (IFC C Loan) of up to $121 million and a senior loan facility (IFC A Loan) of up to $132 million for Mainstream Energy Solutions Limited. Mainstream Energy Solutions Limited is a consortium of Nigerian corporates and entrepreneurs which following a competitive tender in 2012, won the bid for the 30 year concession of Kainji Hydro Electric Plc, the operating company of the Kainji and Jebba hydro power plants (HPP). Kainji and Jebba HPPs have a name plate capacity of 760MW and 578 MW, respectively.
Investment Description
  • International Finance Corporation (IFC)
Contact Information
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