Construction to commence to expand Globeleq’s Cote d’Ivoire plant
LONDON, Oct., 2012 /PRNewswire/ -- Globeleq Generation Limited (Globeleq), the emerging markets power company, announces the signature of financing for the 139 MW expansion of its existing 288 MW Azito gas-to-power plant near Abidjan, Cote d'Ivoire.
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Construction is expected to commence shortly, and to be completed in just over two years. The project was financed on a limited recourse basis with 80% of the funding provided by lenders including the International Finance Corporation, European development finance institutions led by Proparco and BOAD, the West African development bank. The majority of the equity funds will be contributed by Globeleq and the remainder by its partner in the project, IPS (West Africa), a co...