Bank Group’s Lead Advisory and Mandated Lead Arranger Role
Turkana Wind Farm will be the largest wind power project in Africa. The AfDB Group, which provided a €115-million loan to the project, has taken a lead role in developing this project, having worked with the project developer since 2009, and is the Mandated Lead Arranger for the transaction. Spearheading the project’s transactions, the AfDB Group built the confidence of potential investors on mitigation of environmental and governance risks, ultimately attracting additional investors in the project such as commercial banks. As the Mandated Lead Arranger for the project, the AfDB Group will raise over €127 million in senior debt and a further €58 million of subordinated debt.
In addition, the AfDB Group is processing an ADF Partial Risk Guarantee for €20 million to cover the risk related to the completion of the transmission line, which is crucial for the project.