Clifford Chance advises DEG, Finnfund and Proparco on US$135 million financing for telecom energy projects in West Africa

Global law firm Clifford Chance has advised several development finance institutions including Germanys DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, Finnfund and France-based Proparco on the complex US$135 million financing for IPT Powertech Group, a Lebanese company investing in telecom energy projects in West Africa over the past six years.

The development financiers provided a first US$55 million long-term loan to IPT Powertech Group in 2019. Most recently, DEG, Finnfund and Proparco announced the financial close of another US$80 million DEG-led syndicated facility for the IPT Powertech Group. The recent financing supports working capital and capital expenditure for telecom energy projects in several developing jurisdictions including Guinea, Guinea-Bissau, and Sierra Leone.

IPT Powertech Group invests in decentralised energy solutions for mobile network operators in Africa and the Middle East. The company delivers hybrid energy solutions – solar, batteries, and generators – for mobile networks, cutting costs and CO2. Optimized hybrid solutions reduce energy use by up to 40% and lower diesel reliance through a shift to solar energy.

The Clifford Chance team advising the lenders on this transaction was led by partner Anna Thwaites and comprised of counsel Jason London, senior associate Jan Adriaan Botha and trainee solicitor Colette Butler (all Global Financial Markets, Frankfurt).