Gide has advised Meridiam and Gabon Power Company (GPC), subsidiary of the Fonds Gabonais d’Investissements Stratégiques (FGIS), in relation to the public-private partnership project for the generation of energy via the new hydroelectric dam of Kinguélé Aval, on the river Mbei. The facility will have a 35MW production capacity, which will cover around 13% of the electricity demand of Libreville.
The partnership contract was signed on 24 October 2019 by project company Asonha Energie and the Republic of Gabon. Closing of the financial documentation took place on 2 July 2021.
The project's costs of EUR 179 million is financed by the shareholders through equity injections and financing institutions: the International Financial Corporation (IFC), the subsidiary of the World Bank Group responsible for private sector financing , the African Development Bank (AfDB), the Development Bank of Southern Africa (DBSA), and the Emerging Africa Infrastructure Fund (EAIF).
Gide advised Meridiam, GCP and Asonha Energie with a team comprising Marie Bouvet-Guiramand, Magueye Gueye, Claire Labouré, Stéphane Vernay, Edouard Bourguet, Célia Alao and Clément Branchereau. Axelle Toulemonde and Diane Jouffroy advised on corporate aspects; Alexandra Munoz and Astrid Westphalen assisted on arbitration matters; and Sophie Scemla advised on compliance matters.
Blakes advised the Republic of Gabon.
Allen Overy LLP acted as advisor to the finance parties.