Agency Finance

Energy and Energy Transition

Feijão wind project, Brazil
International commercial banks in a non-recourse financing of the approx. US$700 million Feijão wind project in Brazil, which consists of 80 turbines with a combined capacity of 456MW to be constructed in phase one and the option to develop up to 130MW of solar power in phase two. This is a major landmark for the Brazil's power sector as the first commercial bank financing of a renewables project under the USD-linked PPA regime. The project will supply 100% of the electricity required for Hydro's bauxite mine Paragominas and will further reduce carbon emissions from Hydro's alumina refinery Alunorte, by enabling coal replacement by approximately 2030. This transaction was awarded "Latin America Deal of the Year: Wind" by Proximo 2023,"Latin America" Renewable Energy Deal of the Year – Onshore" by IJGlobal 2023, "Wind Deal of the Year" by LatinFinance 2023 and "Project Finance Deal of the Year" by IFLR Americas.

Mendubim solar, Brazil
IDB Invest in connection the US$440 million financing of the Mendubim portfolio of 13 solar projects in Brazil, with offtake used to reduce greenhouse emissions of major alumina refineries. This transaction was awarded "Renewable Energy Financing of the Year" by LatinFinance Project & Infrastructure Finance Awards 2023, and "Latin America Energy Transition Deal of the Year & Renewable Energy Deal of the Year – Solar" by IJGlobal 2023.

Mozambique LNG
US EXIM and other ECAs and lenders in connection with financing Mozambique LNG's US$20 billion onshore LNG facility. This transaction was awarded "Global Multilateral Deal of the Year" by PFI 2021, "Africa Oil & Gas Deal of the Year" by IJGlobal 2022 and "Structured Loan Deal of the Year" by Bonds & Loans Africa 2022.

Bosques Solares de Los Llanos solar PV plants, Colombia
IDB Invest and Bancolombia on a senior secured and subordinated financing, the proceeds of which will be used to finance the Bosques Solares de Los Llanos portfolio of solar photovoltaic plants located in Colombia. This was awarded the 2021 "Solar Deal of the Year" by Proximo.

Yunlin offshore wind project, Taiwan
ECAs and a large syndicate of international and Taiwanese commercial banks on the €2.7 billion project financing of German developer wpd AG's 640 MW Yunlin offshore wind project in Taiwan. This deal was awarded "Overall ECA-backed Deal of the Year Award" by TFX 2020, "Asia Pacific Offshore Wind Deal of the Year," by IJGlobal 2019, and "Asia-Pacific Renewables Deal of the Year" by PFI 2019.

Infrastructure and Logistics

Kazakhstan Railway Project
The lenders in connection with a term loan facility of approximately US$520 million to National Company Kazakhstan Temir Zholy JSC, the state-owned railway company of Kazakhstan (KTZ), covered by the Multilateral Investment Guarantee Agency (MIGA) under its Non-Honoring of Financial Obligations of Sovereign Owned Enterprises Guarantee.

São Paulo Metro Line 6, Brazil
The senior lenders, comprising BNDES, CAF and the commercial banks, with the nonrecourse senior secured financing for the US$3 billion São Paulo Metro Line 6 project in Brazil, the largest PPP project currently under construction in Latin America. The financing involves a 20-year limited recourse BNDES facility that is supported during the construction period by non-recourse bank guarantees totaling more than US$627 million. This transaction was awarded "Latin America Transport Deal of the Year" by IJGlobal 2023, "PPP deal of the Year" by Proximo 2023 and "Americas Transport Deal of the Year" by PFI 2022.

Belgrade waste-to-energy project, Serbia
The junior lenders on the financing of the construction and operation of the Belgrade waste-to-energy project in Serbia under a public-private partnership scheme. The project financing included junior debt to bridge equity and senior debt with support by IFC, EBRD, Austrian Development Bank (OeEB) and MIGA guarantees. This transaction was awarded "Europe Waste Deal of the Year" by IJGlobal 2020.

Seychelles to 2Africa cable network
IFC on a financing to Intelvision, the largest domestic mobile telecoms operator in the Seychelles, in connection with a low-cost broadband subsea cable project connecting the Seychelles to the 2Africa cable network.

Gilcrease Expressway West Project, US
US DOT on the US$120 million secured loan for the development and construction of the Gilcrease Expressway West Project in Oklahoma. The project was awarded "US Project Finance Deal of the Year" by IFLR 2021.

Águas Do Rio Aegea Saneamento e Participações S.A. and Águas do Rio 1 and Águas do Rio 4 concessionaires on a R$1.5 billion (approximately US$300 million) financing provided by IDB Invest, including a R$500 million (approximately US$100 million) guarantee from Proparco for the benefit of IDB Invest, to strengthen the water and sanitation services in the State of Rio de Janeiro in Brazil. The financing is part of the largest project financing in Brazil's sanitation sector. This project was awarded "Water Deal of the Year – Distribution" by IJGlobal 2023.

Onex Shipyards
DFC on the $125 senior secured loan facility to enable ONEX Elefsis Shipyards and Industries (ONEX) to rehabilitate and modernize the Elefsina shipyard near Athens, Greece.
 

Mining & Metals

Syrah Vidalia, US
Syrah Technologies on the financing of its Battery Anode Material Project in Louisiana, using a US$102 million loan with US DOE, which is the first graphite active anode material facility to be developed in the U.S.

CBG bauxite project, Republic of Guinea
The lenders (Natixis, BNPP, SocGen, Credit Agricole, ING, IFC and DFC) to Compagnie des Bauxites de Guinee (CBG), on the approximately US$700 million expansion financing of the CBG bauxite project in the Republic of Guinea and the subsequent multi-user rail corridor expansion.

Kamoa Copper SA, DRC
Kamoa Copper SA, a joint venture between Ivanhoe Mines and Zijin Mining, on its equipment financing, comprising an EKN-supported export credit facility of €176 million.

EV gigafactory, Canada
NextStar Energy, a joint venture formed by Stellantis and LG Energy Solutions, on the financing of an EV battery gigafactory in Canada, with EDC providing credit support.

Health and Environment

MIGA Findeter Guarantee, Colombia
J.P. Morgan on a COP-denominated MIGA-covered financing (including a COP-USD swap) of up to US$300 million to Colombian state-owned enterprise Findeter. Proceeds will be used to finance climate projects that will contribute to Colombia's objectives of diversifying its energy mix and fostering a green economic recovery through affordable energy efficient housing. This transaction was awarded "Uxolo Social Investment Deal of the Year" by Proximo 2023.

Eastern and Southern African Trade and Development Bank
The lenders on a €334 million commercial bank term loan to Eastern and Southern African Trade and Development Bank with a guarantee from MIGA. The proceeds will be used for trade finance and COVID-related purposes. This transaction was awarded "Africa Loans Deal of the Year" by IFLR 2021 and "Best Deal" by Global Trade Finance 2020.

Aspen Finance, South Africa
DFC, IFC, DEG and Proparco on a €600 million financing to Aspen Finance for a sterile injectables facility and the acquisition of Aspen Pharmacare's anesthetics emerging markets portfolio.

Debt-for-nature swaps, Gabon
Gabonese Republic in connection with its debt-for-nature conversion comprised of US$500 million 15-year blue loan and the concurrent tender offer for its existing notes due 2025 and two series of notes due 2031. The notes are listed on the Irish Stock Exchange and London Stock Exchange. The blue loan was funded by an offer of US$500 million amortizing notes due 2038. US DFC political risk insurance provided credit enhancement for this transaction, helping to mobilize capital from institutional investors and catalyze additional investment in Gabon's marine conservation efforts. This was awarded "Deal of the Year: Capital Markets" by IFLR Africa 2024.