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Photovoltaic Power Project (Djibouti):
Advising a sponsor for the development of a photovoltaic power plant in Djibouti for an installed capacity of 50MW.
60MW wind farm project (Djibouti) 
Trinity advised an equity consortium comprising of Africa Finance Corporation (AFC), Climate Fund Managers (CFM) as manager to Climate Investor One’s (CIO) Construction Equity Fund, FMO, (the Dutch development bank) and Great Horn Investment Holdings (GHIH) in respect of a 60 MW wind farm project in the Ghoubet region, near Lake Assal, Djibouti. The project vehicle is a Djibouti-based limited liability company entitled, Red Sea Power SAS Limited.
Djibouti is currently heavily dependent on thermal generation and imported power from Ethiopia for its electricity consumption. The project represents the first utility-scale renewables project to begin construction in Djibouti and is viewed as being a key milestone in diversifying Djibouti’s energy mix. The power generated will be sold under a long-term power purchase agreement to Electricité de Djibouti, the state-owned public utility.
Funding was provided entirely by way of equity contributions from each of the consortium members. SiemensGamesa (a German/Spanish conglomerate) is undertaking both the construction and operation and maintenance of the plant. The project is expected to commence commercial operations in 2021. AFC took the lead developer and project manager role, whilst CFM took the lead technical role with FMO providing support on all insurance and E&S related matters. GHIH assisted with the necessary in-country engagement with EDD and the Government of Djibouti
The project was one of the first major IPPs on the continent which applied a model of being fully equity financed at the outset with the intention that project finance debt would be applied later in the life of the project.
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