AIIM acquires minority stake in Ghana’s Amandi Energy

AIIM acquires minority stake in Ghana’s Amandi Energy

African Infrastructure Investment Managers (AIIM), a member of Old Mutual Alternative Investments on Tuesday acquired a minority stake in the Amandi Energy, an independent power producer (IPP), plant in Ghana.

The investment in Amandi is financed through its third pan-African focused fund, African Infrastructure Investment Fund 3 (AIIF3), which invests primarily in power, transportation and energy infrastructure in Sub-Saharan Africa.

Useful links Ghana Politics | Ghana Celebrity News | News in Ghana

Located near Aboadze in Western Ghana, Amandi is an approximately 200MW dual-fuel, combined-cycle power plant currently under construction for a total cost of $550m. AIIF3 is acquiring the entire shareholding of the Rontom Trust, a vehicle affiliated with the project founders.

The Amandi IPP plant is also owned by Endeavor Energy, Amandi Founder Group, Aldwych, Pan African Infrastructure Development Fund 2 managed by Harith General Partners, and ARM-Harith Infrastructure Fund.

Olusola Lawson, investment director and head of West Africa at AIIM said: "As infrastructure investors committed to having a positive and sustainable impact on the communities we operate in, we’re pleased to be involved with the Amandi IPP. When operational, this project will add another 200MW of capacity to the grid and help the country meet its growing energy needs."

Ghana News Headlines

For today's latest Ghana news, visit Graphic Online headlines page Ghana news headlines.

Ghana is reforming its power sector; AIIM Funds have previously invested in the landmark Cenpower Kpone IPP in Ghana, which reached financial close in 2014.

This is the fifth investment made through AIIF3. The other investments were in Starsight Power Utility, an energy services company in Nigeria; AIIM Hydroneo, a pan-African hydro-power development platform; DSM Corridor Group, a specialist, dry bulk terminal operator in Tanzania; and Albatros Energy Mali, a 90MW thermal power station.

For current Ghana news | Ghana Business News | News in Ghana