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Global law firm Norton Rose Fulbright has announced that it has successfully closed the financing facilities on a 50MW solar PV plant in Sikasso, Mali. The financing was arranged for French green Independent Power Producer Akuo Energy for its Kita solar farm project.

Kita solar farm reaches financial closeThe solar farm will be built in southern Mali and will be the largest of its kind in west Africa, according to Akuo Energy. Power generated at the site will be fed in to the national grid and will serve up to 730 000 people, helping to reduce reliance on the burning of wood and charcoal for power, which provides 78% of energy supplies in the country.

The Kita solar farm is Akuo Energy’s first project in Africa and has been in development since 2014. Norton Rose Fulbright has been advising on the transaction since July 2016. The firm’s teams in Johannesburg and Paris represented the Emerging Africa Infrastructure Fund Limited (acting through its agent and investment manager Investec Asset Management Proprietary Limited), Banque Ouest Africaine de Développement, Banque Nationale de Développement Agricole, and

Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V. (FMO).

“We are proud to have played a key role in one of the region’s most high-profile, innovative transactions,” says Jackie Midlane, Head of Banking and Finance at Norton Rose Fulbright South Africa.

Image credit: http://www.akuoenergy.com/en/kita

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