Release by Scatec

Simon Norris, with assistance from Demilade Banjoko, advised Release by Scatec (Release) in relation to a USD 100 million loan agreement with International Finance Corporation (IFC). The loan agreement is part of a larger partnership to provide a simpler, more affordable, and cleaner offering of power to African utilities, which also includes a USD 65 million guarantee facility to support the payment obligations of Release’s customers.

The objective is to replace costly diesel and expand electrification in the region. Release operates on a unique leasing model, providing flexible short-or long-term contracts for the mining and utilities market, primarily in Africa, based on modular, movable and redeployable equipment.