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1. Emerging Africa Infrastructure
Fund
38 projects financed to date
To t a l l i n g U S $ 7 5 5 m i l l i o n
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2. Portfolio Projects
P R OJ E C T S W I T H E XT E R N A L D E L I V E RY OF
POWER/ENERGY COMPONENT
(EXCL. E.G. TELECOMS WHERE POWER CAN BE IMPORTANT)
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3.  Transaction Summary
 2003: Construction of an 85MW HFO-fired power plant at
Limbe, 2006 financing of an investment program to boost
generating capacity and improve electricity services;
AES Sonel  Total Transaction Size: 2003 – US$ 90m, 2006 – EUR 240m;
EUR 24m Arranger for part  Sponsor: AES;
of a corporate financing  Co Financiers: FMO, EIB, IFC, AfDB, Proparco, DEG and
package for AES Sonel BEAC;
 EAIF Role: Arranger (2003); Co-Lender (2006);
Country: Cameroon
 Additionality: in 2003 EAIF arranged a corporate facility of
Arranged: Aug 2003 US$ 60m, in 2006 provided bridge financing to allow other
Signed: Dec 2006 institutions to join the transaction at a later stage as part of a
new CAPEX program.
 Development Benefit
 One of the only privatised Electric utilities in Africa;
 50,000 additional connections per year on average until 2018;
 Upgrading the country’s generation, transmission, and
distribution systems and improving safety and environmental
standards.
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4.  Transaction Summary
 Greenfield mineral sands mining (zircon, ilmenite, rutile);
Kenmare  15-year mezzanine and senior debt financing;
 Total Transaction Size: GBP 594m;
Resources Plc  Sponsor: Kenmare Resources Plc (LSE:KMR);
(Moma Mining)  Co Financiers: Absa, AfDB, EIB, IDC, FMO and KfW;
 EAIF Role & additionality: Co-Lender; EAIF’s willingness to provide
subordinated debt critical to full financing;
US$ 5.0m senior debt and  Kenmare’s Development Association obtained the Nedbank Capital Green
US$ 24.5m Mezz. Debt Mining and Irish Chamber of Commerce best international CSR social
responsibility awards in 2009.
Country: Mozambique
 Development Benefit
Signed: Oct 2004  The project is the only mining/industrial project in its location in a remote
northern area of Mozambique anchoring industrial and social development
and generating significant employment;
 The power line from the national grid also enables electricity supplies to
neighbouring villages;
 The export of mineral sands contributes to export earnings for Mozambique;
 Because of its environmental and social approach in line with a/o IFC
environmental and social performance standards (see awards referred to
above) the project is a good example for similar projects in the region;
 The project has started an expansion in 2010, which will further develop the
mine with associated regional benefits.
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5.  Transaction Summary
 The project consists of the expansion of the Olkaria III
geothermal power plant from 13 MW to 48 MW capacity;
Olkaria III  Total Transaction Size: US$ 180m;
 Sponsor: Ormat International Inc.;
US$ 15m senior secured  Co Financiers: DEG, FMO, Proparco and KfW;
debt financing  EAIF Role: Co-Lender;
 Awarded “African Renewables Deal of the Year’ by
Country: Kenya
Euromoney’s Project Finance Magazine”.
Signed: Jan 2008
 Development Benefit
 Diversification of sources of power production;
 Geothermal projects avoid the need to import fossil fuels, and
utilize instead a locally available resource which will improve
Kenya’s power supply;
 Contributes positively to the targets of international climate
change policies.
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6.  Transaction Summary
 Construction of a 13MW Hydro Power Plant and a 6 km 33 kV
transmission line;
Tronder Power  Two Senior debt tranches: 15 year debt facility together with a 5
year debt facility to accommodate tariff structure;
US$ 35m Underwritten
Facility for a run of river  Total Transaction Size: US$ 56m;
small hydro Power Plant  Sponsor: TronderEnergi and Norfund;
 EAIF Role: Arranger and Underwriter.
Country: Uganda
Signed: May 2008  Development Benefit
 Significant improvement of electricity supply to the Kasese
district in western Uganda and the Ugandan Grid;
 Better grid management which will contribute to reducing the
technical losses currently experienced by Uganda Electricity
Transmission Company Ltd (“UETCL”);
 New improved homes and land titles for relocated population;
 New Hospital wing and medical supplies part of the CSR
program.
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7.  Transaction Summary
 15-year mezzanine and senior debt financing;
 Total Transaction Size: EUR 120m;
 Sponsor: Aldwych and BWSC;
Rabai  Co Financiers: FMO, DEG and Proparco;
 EAIF Role & additionality: EAIF as lead arranger led the financial
structuring and negotiations of the transaction;
EUR 22.5m Arranger for a
 Awarded the African Power Deal Of The Year prize by both Project
90 MW HFO fired power Finance International Magazine and Euromoney in 2008
plant
Country: Kenya  Development Benefit
 The Rabai IPP set the market standards for further IPP development in
Signed: Sep 2008 Kenya;
 The plant's 90MW output is sufficient to provide power to up to 400,000
households;
 The addition of much needed new generating capacity will help reduce
the electricity rationing;
 Lower electricity prices (as it provides a substitute for more expensive
energy sources such as diesel generators) and improved quality/reliability
of power supply;
 The project has the ability to convert to gas once it becomes available in
Kenya, which has substantial environmental and economic benefits
(lower fuel costs).
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8.  Transaction Summary
 Corporate debt facility for a portfolio of 12 small hydro power
projects with a total capacity of 58MW. 11 projects are located
in Sri Lanka and 1 in Uganda;
SAEMS  Total Transaction Size: US$ 85m;
 Sponsor: South Asia Energy Management Systems Inc;
US$ 14m senior secured
debt facility  Co Financiers: FMO, Finnfund and DEG;
 EAIF Role: Co-Lender;
Country: Uganda  Additionality: EAIF’s funds are earmarked for the 18MW
Mpanga power project in Western Uganda. This is the first
Signed: Sep 2008
project under the Uganda Small Hydro IPP setup by the
program that attracted debt finance.
 Development Benefit
 Additional generation capacity;
 Improved power supply to national grid;
 Cheap & Clean energy;
 Job Creation.
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9.  Transaction Summary
 Greenfield 12.5MW gas fired combined cycle power plant that will
Tower Power supply power to various industrial companies in Abeokuta.
 Total Transaction Size: US$ 21.3m;
Abeokuta Ltd.  Sponsor: Powergas International, Clovis Participations ;
 EAIF Role: Structuring Bank and sole lender;
US$ 15m secured senior
 Additionality: EAIF is supporting one of the first small scale IPP’s
debt facility
that supplies power to industrial zones. This model is expected to
implemented throughout Nigeria and therefore this project has a
Country: Nigeria
substantial demonstration effect.
Signed: Jun 2011
 Development Benefit
 The plant will use Nigerian gas which otherwise would be flared;
 Removing potential off-takers from the national grid will stress-
relieve the national grid infrastructure and transmission network,
both of which are in poor condition, thus benefitting domestic users
with more reliable connections;
 20 jobs created;
 TPAL plans to use Waste Heat Recovery technology to increase its
power output by capturing systemic heat wastes. This green
technology will make the plant fuel efficient and help conserve
energy.
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10.  Transaction Summary
 The development of a 10,000ha sugarcane plantation, an ethanol
distillery factory producing 82,000m3 of ethanol p.a. and a 32MW
Addax Bioenergy cogeneration power plant;
 Total Transaction Size: EUR 267m;
EUR 20m financing for a  Sponsor: Addax and Oryx Group;
Sugarcane plantation,
 Co Financiers: FMO, DEG, AfDB, ICF, IDC and BIO;
Ethanol distillery factory and
a Cogeneration Power plant  EAIF Role: Co-Mandated Lead Arranger.
 PFI and Euromoney African Renewable Energy Deal of the Year
Country: Sierra Leone
 Development Benefit
Signed: June 2011
 The largest industrial project in Sierra Leone outside mining;
 15MW of excess power exported to the grid, increasing the installed
capacity of the country by 25%;
 Significant employment of 2,000+ during full operations;
 Diversification of the country economy from mining to agriculture
and biofuels;
 Cooperation with the FAO to increase productivity of local farmers.
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11.  Transaction Summary
 Integrated Methane Gas to Power Project utilizing Lake Kivu’s
unique methane gas resources. The project will consist of a Gas
Extraction Facility plus a 25MW power plant;
 Total Transaction Size: US$ 142m;
KivuWatt Ltd
 Sponsor: ContourGlobal LP;
 Co Financiers: FMO, AfDB, BIO;
US$ 25m senior secured
debt facility  EAIF Role: Co-Arranger;
 Additionality: Non availability of commercial funding with
Country: Rwanda required tenor and limited DFI appetite.
 PFI African Power Deal of the Year 2011
Signed: Aug 2011
 Development Benefit
 Improvement of reliable and affordable power supply to National
grid;
 Demonstration effect: once this project is completed, more gas to
power projects on Lake Kivu are expected to come online;
 The project will reduce the risk of toxic release of lake gases
through a controlled reduction of lake methane levels. The Project
will enhance lake stability;
 Job creation (200 during construction, 60 during operation).
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12.  Transaction Summary
 The Project involves the replacement of the existing ferry service
Kalangala with 2 new ferries, constructing a hybrid power plant, upgrading the
islands main road and developing a solar powered water supply
Infrastructure system to certain towns;
 Total Transaction Size: US$ 54m;
US$ 7m financing of the  Sponsor: InfraCo Africa Limited;
upgrade to road, ferry, power  Co Financiers: Nedbank, NSSF Uganda, GuarantCo and PIDG
grant;
and water services.  EAIF Role: Co-Lender.
Country: Uganda
 Development Benefit
Signed: Dec 2011
 Improved connectivity between the mainland and island, and
between the towns and communities along the road;
 Reduction in transaction costs for the local community, in terms
of reduced travel times, access to markets;
 Access to electricity, reducing need for more expensive sources,
ability to store perishable goods, improve quality of life;
 Increases access to safe and reliable water supply;
 Job creation during construction and operation.
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13.  Transaction Summary
 Increase of the existing corporate debt facility with US$ 6m to US$
20m to facilitate the development SAEMS’s 2nd hydro power project
in Uganda: the 14MW Nyamwamba power project located in
SAEMS II Western Uganda;
 Total Transaction Size: US$ 30m;
US$ 6m secured senior  Sponsor: South Asia Energy Management Systems Inc;
debt facility  Co Financiers: FMO, DEG and Finnfund;
 EAIF Role: Co-Lender;
Country: Uganda
 Additionality: EAIFs support to the Nyamwamba project follows the
Signed: Jan 2012 succesful implementation of the 18MW Mpanga power project, one
of the 1st small scale hydro IPP’s in Uganda. The project will
provide power that will serve the rural western part of Uganda
which currently experiences significant power shortages.
 Development Benefit
 Additional generation capacity;
 Improved power supply to national grid;
 Cost effective & clean energy;
 Job Creation;
 Demonstration effect.
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14. Refinanced & Repaid Projects
( P R OJ E C T S W I T H E XT E R N A L P OW E R D E L I V E RY
COMPONENT)
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15.  Transaction Summary
 Construction of a 126MW LCO/gas-fired power plant in Tema;
Tema Osonor  Total Transaction Size: US$ 128m;
Power Ltd  Sponsors: Aldwych International, PAIDF, Gecad and Standard
Bank;
US$ 15m senior secured  Co Financiers: FMO, AfDB and ICF Debt Pool;
debt facility  EAIF Role: Co-arranger;
 Additionality: EAIF structured & arranged US$ 90m Senior
Country: Ghana
debt package.
Signed: Oct 2010
 Development Benefit
Cancelled: Dec 2011  TOPL will provide reliable relative clean gas fuelled power, at
an efficient price, which will assist in solving power demand
growth;
 Job creation: 50 jobs;
 Tax revenues: The project is expected to pay on average US$
5m per annum in taxes.
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16. Tombstones
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17. Summary of transactions (2003- 2008)
Jan 2003 Aug 2003 Oct 2004 Nov 2004 Nov 2004
MSI-Cellular / Celtel AES Sonel MOMA MTN Nigeria SPM Ghana
US$ 260 million EUR 240 million GBP 594 million US$ 200 million US$ 47.3 million
Expansion of a GSM network across Construction of an 85 MW HFO fired power Construction and operation of a Greenfield Corporate facility for the expansion of MTN’s Financing of a Single Point Mooring system
selected countries in Arica plant in Cameroon; in 2006 the facility was mineral sands project (ilmenite, rutile, zircon) GSM network in Nigeria and a conventional buoy mooring system in
increased to EUR 240 million and EAIF near Moma, northern Mozambique the waters outside Tema Port, Ghana
acted as a co-lender
US$ 30m EUR 24m US$ 5m - Senior Debt US$ 10m US$ 12m
Mezzanine debt facility Arranger –Senior Debt Facility US$ 24.5m - Mezz. Facility Senior Debt Facility Senior Debt Facility
September 2005 Feb 2007 February 2007 June 2007 Nov 2007
Obajana Cement Eleme Petrochemicals Celtel Nigeria Celtel Africa Seacom
US$ 798 million US$ 400 million US$ 190 million US$ 320 million US$ 600 million
Construction and commissioning of a Financing of a post privatisation turnaround Corporate facility for the expansion of Corporate facility for expansion of GSM Debt financing for equity participation of IPS
greenfield cement production plant with a program for a petrochemical plant in Nigeria Celltels GSM network in Nigeria network in 5 African countries Kenya (AKFED) in Seacom, the first submarine
capacity of 4.4 million tons per annum in fibre optics cable along the eastern coast of Africa
Nigeria
US$ 30m US$ 20m US$ 35m US$ 24m US$ 36.5m lender to IPS CSH
Senior Debt Facility Senior Debt facility Senior Debt Facility Senior Debt Facility for Seacom equity
Jan 2008 Mar 2008 May 2008 Sept 2008 September 2008
Orpower 4 Safal Investments Tronder Power Rabai Power Project SAEMS
US$ 180 million US$ 211 million US$ 56 million EUR 120 million US$ 85 million
Expansion of the Olkaria III Geothermal Construction of a 13 MW run of river hydro Construction of a 13 MW run of river hydro Construction of a 90 MW HFO fired power Corporate facility for a portfolio of 12 small
power project to 48 MW power plant in Uganda power plant in Uganda plant in Kenya hydro power plants in Sri Lanka and Uganda
US$ 15m US$ 15m - Senior Debt US$ 35m Senior Debt EUR 22.5m US$ 14m
Senior Debt Facility US$ 14m - Sub Debt Underwriter and Arranger Arranger –Senior Debt Facility Senior Debt Facility
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18. Summary of transactions (2009 – 2011)
Jan 2009 February 2009 June 2009 October 2009 December 2009
SPA Maghreb Aldwych International Zain Ghana Bisha Mining Share Company Helios Towers Nigeria
US$ 24 million GBP 44 million US$ 523 million US$ 460 million US$ 250 million
Construction of green field steel pipe Round B equity and high yield debt financing Construction and operation of a greenfield Construction and operation of the first Corporate facility for the expansion of Helios’
manufacturing company in Algeria for start up power plant developer Aldwych mobile network in Ghana modern mine in Eritrea mining gold and tower network in Nigeria
International copper in Eritrea
US$ 17m EUR 6m - Senior debt US$ 17.5m US$ 25m US$ 19m
Senior Debt Facility US$$ 1m - Equity Senior Debt Facility – B Loan Mezzanine debt Senior Debt Facility
December 2009 July 2010 October 2010 November 2010 November 2010
African Foundries
Limited
African Foundries Limited ALAF Limited Tema Osonor Power Ltd DPW Dakar O3b Networks
US$ 130 million US$ 35 million US$ 128 million EUR 216 million US$ 1.2 billion
Construction of a 150MT p/a rolling mill that Construction of a Metal Coating and Roofing Construction of a 126MW gas-fired power Upgrade & expansion of the container Orbit Satellites and ground facilities to
will produce TMT Rebars, Nigeria facility in Tanzania plant in Tema, Ghana terminal in the Port of Dakar, Senegal deliver fibre quality broad band
communications services to emerging
markets
US$ 20m US$ 5m US$ 15m EUR 12.5m US$ 12.5m Senior Debt
Senior Debt Facility Senior Debt Facility Co-Arranger –Senior Debt Facility Senior Debt Facility US$ 12.5m Sub Debt
June 2011 June 2011 August 2011 December 2011 December 2011
Tower Power Abeokuta Ltd Addax Bioenergy KivuWatt Ltd Helios Towers Tanzania Kalangala Infrastructure
US$ 21.3 million EUR 267 million US$ 140 million US$ 85 million US$ 54 million
Constriction of Greenfield 12.5MW gas fired The development of a 10,000ha sugarcane The development of an Integrated Methane Acquisition of >1000 telecom towers from Development of road, ferry, water supply and
combined cycle power plant in Nigeria plantation, an ethanol distillery producing Gas to Power Project in Rwanda utilizing Millicom Tanzania Ltd. Debt facility for power services for Kalangala District in
82,000 m3 of ethanol p.a. and a 32MW Lake Kivu’s unique methane gas resources. refurbisment and expansion of the tower Uganda
cogeneration power plant in Sierra Leone The project will consist of a Gas Extraction network
Facility plus a 25MW power plant
US$ 15m EUR 20m US$ 25m US$ 15m US$ 7m
Arranger –Senior Debt Facility Co-Arranger –Senior Debt Facility Co-Arranger –Senior Debt Facility Senior Debt Facility Senior Debt Facility
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19. Summary of transactions (2012 -)
January 2012
SAEMS II
US$ 30 million
Increase of the corporate facility to facilitate
the development of SAEMS’s 2nd hydro
power project in Uganda
US$ 6m
Senior Debt Facility
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