GNPC ANNOUNCE IFC AND MIGA SUPPORT SANKOFA GAS PROJECT

GNPC ANNOUNCE IFC AND MIGA SUPPORT SANKOFA GAS PROJECT

The project will fuel up to 1,000 megawatts of power generation, helping Ghana meet its growing energy needs and displace oil-fired power generation with a clean-burning alternative. The $7.7 billion Sankofa project will be developed by Vitol Ghana and Eni Ghana, in partnership with Ghana’s National Petroleum Corporation. IFC has committed a loan of $235 million to Vitol Ghana and arranging another $65 million in debt from the Managed Co-Lending Portfolio Program, a loan-syndications initiative that enables third-party investors to participate passively in IFC’s senior loan portfolio. The IFC financing is part of a $1.35 billion loan facility provided by commercial banks, including HSBC, SociétéGénérale, ING, Standard Chartered Bank, UKEF, among others. MIGA has committed these commercial lenders with up to $217 million in political risk guarantees. Source: gnpc Oil and Gas Press Oil and Gas News Undiluted !!! “The squeaky wheel gets the oil” Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook]]>

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