InfraCo Africa has signed developer services agreement whereby Aldwych will develop early stage infrastructure projects up until financial close, in Sub-Saharan Africa, on behalf of InfraCo Africa.
The appointment of Aldwych follows InfraCo Africa’s strategy of contracting with multiple developer teams, to undertake pre-financial close project development in Sub-Saharan Africa. In addition to funding developer teams on a long term basis; InfraCo Africa also co-funds directly into infrastructure projects in Sub-Saharan Africa where a lead project developer is already in place, as co-investments.
Brian Count, InfraCo Africa’s Chairman, stated:
With the appointment of Aldwych and our drive towards increased co-developments, InfraCo Africa can increase its impact on poverty alleviation in sub-Saharan Africa by developing infrastructure projects with the private sector which will have a material impact on people and economic growth.
InfraCo Africa, a publicly funded infrastructure development company forming part of the Private Infrastructure Development Group (PIDG), was established in 2004 to support infrastructure investments in Sub-Saharan Africa. InfraCo Africa funds development costs of projects up to financial close. InfraCo Africa has been capitalised with US$126m of PIDG member funding to date with future funding commitments in place.
The PIDG is a multi-donor, member-managed organisation. Current PIDG members include: the UK Department for International Development (DFID), the Swiss State Secretariat for Economic Affairs (SECO), the Netherlands Ministry of Foreign Affairs (DGIS), the Swedish International Development Cooperation Agency (Sida), the World Bank, Irish Aid, the Austrian Development Agency (ADA), Kreditanstalt für Wiederaufbau (KfW), and the Australian Agency for International Development (AusAid).
Aldwych was established in 2004, for the purpose of developing, owning and operating power generation, transmission and distribution projects in emerging economies, primarily Africa. Aldwych is majority owned by the Pan African Infrastructure Development Fund. The Aldwych management has successfully financed or re-financed over 20 power projects worldwide totalling over 11,000MW and US$3.75 billion.