Akuo reaches financial close on Kita

10 November 2018

Renewable energy developer Akuo Energy has reached financial close on the largest solar farm in west Africa.

The 50 MW Kita project in in Sikasso, Mali, is Akuo’s first solar farm to start construction in Africa. Financing was arranged by global law firm, Norton Rose Fulbright. Head of Banking and Finance at Norton Rose Fulbright South Africa, Jackie Midlane, who led on the transaction, said, “We are proud to have played a key role in the region’s most high-profile, innovative transactions.”

The project has been in development by Akuo Energy since 2014, with Norton Rose Fulbright advising on the transaction since July 2016. Lenders to the project include The Emerging Africa Infrastructure Fund, Banque Ouest Africaine de Développement, and Banque Nationale de Développement Agricole.

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