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Rwanda – Example transactions
(please note that this is not an exhaustive list – please contact us for more details)
Rucanzongera Hydro IPP (Rwanda):
Advising a DFI in relation to the financing of the development of a run of the river hydropower plant in Rwanda.
Small Scale IPPs (Rwanda):
Advice concerning the establishment of a fund focusing on small scale IPPs in Rwanda
Financing (Rwanda):
Advising a DFI in relation to a financial institutions loan to a leading Rwandan commercial bank
Hydropower Project (Rwanda):
Advising the project company in relation to the development of a hydropower project in Rwanda.
Lake Kivu Power Plant Project (Rwanda):
Advising FMO and African Development Bank, the lenders, with respect to a USD 140 million debt financing of a methane-fired power project to Lake Kivu, Rwanda.
Ngali Hydro Projects (Rwanda):
Advising the developer of a portfolio of small run-of-river hydro projects in relation to all project agreements.
Off-Grid Financing (Rwanda) :
Advising BBOXX in respect of financing its activities in Rwanda.
Case study
80MW Peat-Fired Power Plant (Rwanda) [2017]
Trinity advised lenders (both senior and mezzanine, under separate instructions) on the 80MW peat-fired Hakan power plant in Rwanda, which reached financial close in 2017.
The power plant, once built, will significantly increase Rwanda’s on-grid electricity and will be the largest peat fired power plant in Africa. It will provide base load generation for Rwanda, increasing its generation capacity by approximately 40% on a tariff c.30% cheaper than those prevailing at the time of financial close.
The group of lenders included Africa Finance Corporation (AFC), which arranged a predominantly African senior debt tranche of US$225 million, and Finnfund, the Finnish development agency, who arranged the mezzanine debt tranche. Other lenders included the Eastern and Southern African Trade and Development Bank (PTA Bank), the African Export-Import Bank (Afreximbank), the Development Bank of Rwanda (BRD) and the Export-Import Bank of India. The sponsors were Hakan Mining and Electricity Generation Company Limited, a Turkish power generation company, and Quantum Power Limited (QP), an international investment fund.
The project utilises Rwanda’s significant peat reserves and will alleviate the need for Rwanda to rely on expensive fuel imports in the future. Whilst Rwanda is one of Africa’s fastest-growing economies, three-quarters of its population remains off-grid. The construction of the project aims to increase that significantly in a bid to boost economic growth yet further.
IJ Global African Power Deal of the Year (2017)
Property Joint Venture (Rwanda):
Acting for an East African governmental agency concerning a joint venture with an international real estate company to develop a property management and advisory business in Rwanda.