In January 2019, UPC was selected as one of the four awarded companies under the “Authorisation Scheme” tender for its 30MW Sidi Mansour project in Northern Tunisia and subsequently signed a power purchase agreement with Société Tunisienne d’Electricité et du Gaz. The Project will be one of the first wind independent power producers in the country.  Over its lifespan the Sidi Mansour Project is expected to lead to a reduction of 56,645 ton equivalent of carbon and create more than 100 jobs.

The total investment size of the Project is expected to be approximately US$ 40 million.

CFM is a leading blended finance fund manager with sustainability focus across global emerging markets and is participating in the Project as co-developer, sponsor, financial advisor and E&S advisor, through the development and construction financing facility, CI1. UPC will lead the development of the Project with its local team that will lead land securitization, permitting, grid connection, wind resource assessment, and engineering and procurement contracts.

The Trinity team comprised Senior Partner Paul Biggs, Partner Conrad Marais and Senior Associate Adekanmi Lawson from Trinity’s London office and by Partner Pierre Bernheim from Paris.

About Climate Fund Managers

CFM has a long-term vision to structure cutting edge financing facilities around thematic areas of climate change mitigation and adaptation, including renewable energy, water and oceans, sustainable land use and sustainable cities. CFM is established as a joint venture between the Dutch development bank FMO and Sanlam InfraWorks – part of the Sanlam Group of South Africa.

Climate Investor One (CI1) is the inaugural facility managed by CFM, focused on providing capital to renewable energy projects in developing countries. CI1 has a focus on Africa, South & Southeast Asia, and Latin America, and uses a whole-of-life financing approach intended to reduce implementation timelines. The facility also enjoys support from the EU through its External Investment Plan, a part of its wider commitment to sustainable development and climate change mitigation, as well as cornerstone support from the Ministry of Foreign Affairs of the Netherlands, the Nordic Development Fund (NDF) and USAID’s Power Africa programme.

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Trinity is pleased to confirm that it has advised a syndicate of four Development Finance Institutions (‘DFIs‘) in respect of a US$49 million facility for the rehabilitation of certain plantations for sustainable palm oil in the Democratic Republic of Congo (“DRC“).

Trinity advised DEG Deutsche Investitions- und Entwicklungsgesellschaft mbH (‘DEG‘), lead arranger and agent for the syndicate, Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V. (‘FMO’), the Dutch development bank, the Belgian Investment Company for Developing Countries (‘BIO‘), the Belgium Government’s DFI, and the Emerging Africa Infrastructure Fund (‘EAIF‘), a facility of the Private Infrastructure Development Group (collectively the Lenders ) on the financing. The financing allows the DFIs to contribute to the development of poor rural areas through supporting the private sector; an important engine for employment and income in developing nations such as the DRC.

The purpose of the Facility is to finance investment into equipment, replanting, fertiliser and environmental and social governance expenditures required as part of the rehabilitation of PHCs three palm oil plantations in the DRC.

Brazil – sugar cane plantations

Trinity advised PROPARCO, a subsidiary of the French Development Agency in respect of a US$60 million loan to Biosev SA, the second largest processor of sugarcane in the world, in a deal which signed earlier in December 2015. The funds will be used for investments in the areas of planting, cultivation and industrial maintenance.

The contract signing coincided with the COP 21 held in Paris. The funding reflects the commitment of PROPARCO in having a positive impact on the climate. In producing ethanol on a commercial scale as an alternative source to fossil fuels, alongside biomass energy generation, Biosev helps to reduce greenhouse gas emissions. The loan will also support thousands of jobs in rural areas.

Trinity involvement

Trinity is proud to have advised some of the leading European DFIs, including FMO, PROPARCO, DEG, EAIF and BIO on these important transactions in the agricultural sector.

For more information, please contact kaushik.ray@trinityllp.com

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