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By Nick Flitterman

Portland Supports Dolma Himalayan Climate Fund

Portland Supports Dolma Himalayan Climate Fund

Portland has been retained to assist Dolma Himalayan Climate Fund (DHCF) with respect to financial modelling of solar and hydro-electric power plants.

Supported by the Department for International Development (DFID), part of the UK government, DHCF has been structured to attract funding from institutional investors for the development of renewable energy projects in Nepal and other Himalayan geographies.

To discuss this further, contact Geoff Knox on geoff.knox@portlandadvisers.com

By Nick Flitterman

Portland Ranked Top Financial Advisor in 2016

Portland Top of the Charts

The league tables are out, and Portland Advisers has been confirmed by Infrastructure Journal as no.1 Financial Advisor by value in 2016 following a very successful year. This follows the closure of transactions such as Yamal LNG and OCTP, and confirms Portland’s well established position as a leading Financial Advisor in the key infrastructure sectors globally.

Further information can be found by clicking here.

 

 

 

By Nick Flitterman

Offshore Cape Three Points (OCTP) Closes

Offshore Cape Three Points (OCTP) Closes

Loan signing on the $1.35 billion limited-recourse debt financing for Vitol’s working interest in the Offshore Cape Three Points/Sankofa oil and gas project in Ghana, West Africa took place today.

The financing has a hybrid structure combining Reserve Based Lending (RBL) and Project Finance features. Debt facilities were provided by UK Export Finance (UKEF), IFC and a syndicate of commercial banks.

Portland advised UKEF throughout the negotiation and documentation of this transaction.

To discuss this further, contact Geoff Knox on +44 20 7183 8387 or geoff.knox@portlandadvisers.com or Frauke Bialokoz on +44 20 7183 8386 or frauke.bialokoz@portlandadvisers.com

By Nick Flitterman

US Ex-Im Bank board approves Indian Solar PV project

US Ex-Im Bank has announced that its Board of Directors has approved an export finance loan of US$ 9 million as part of the debt financing for a 11.6 MW solar PV project in Rajasthan, India sponsored by KSK Energy Ventures, an Indian power developer. Debt is being co-financed by IDBI Bank Ltd. Portland Advisers is acting as financial adviser to US Ex-Im Bank.

The solar panels for the project have been procured from Miasolé, a pioneer in the development of copper indium gallium selenide (CIGS) thin-film PV solar panels which are among the highest-efficiency and lowest-cost solar panels.

Click here for the official press release from US Ex-Im Bank.

For further information contact geoff.knox@portlandadvisers.com

 

 

By Nick Flitterman

GAP gets DFID “Green Light”

In November 2012, the Green Africa Power (“GAP”) initiative received approval from the Department For International Development (“DFID”) for the UK’s proposed contribution to GAP, a new company to be established under the Private Infrastructure Development Group (“PIDG”) Trust.

A substantial amount of funds have been dedicated to help capitalise GAP which will support the implementation of Renewable Energy projects in power starved Sub-Saharan Africa. GAP’s support will be through the provision of deeply subordinated equity tranches into project companies and / or the issuance of guarantee products to cover specific project risks which could facilitate successful financing for such projects. GAP will also enter a policy dialogue with host Governments to help move participating countries towards cost-reflective tariffs.

Portland Advisers, in conjunction with Trinity LLP, an Africa-focused law firm, assisted in the preparation of a business plan and detailed financial model on behalf of PIDG (see our press release in Sept 2011). This business plan formed the basis for DFID’s internal business case in obtaining approval to proceed and invest UK donor capital.

Portland Advisers, in co-operation with Trinity, will remain closely involved with GAP during the next phase of its implementation process. Further news to follow.

For further information please contact either Klaus Frietsch (klaus.frietsch@portlandadvisers.com / 020 7183 8394) or Darryck Luiz (darryck.luiz@portlandadvisers.com / 020 7183 8391)

Portland Ranked Top Financial Advisor in 2016