Mainstream kicks off Nigerian energy privatisations
Nigerian power firm Mainstream Energy Solutions has signed a $170m medium term acquisition facility to buy Kanji Power. This is the first privatisation in Nigeria's power market.
Guaranty Trust Bank was the underwriter and mandated lead arranger on the loan. It was joined by multilateral infrastructure lender Africa Finance Corporation.
The deal was signed last week.Mainstream will use the financing to buy Kanji Power's two power stations — Kanji hydroelectric plant and Jebba hydroelectric plant, both ...