Amandi Energy has received an influx of capital that will allow it to move forward with the construction of the Amandi Combined Cycle Plant in Aboadze, Ghana. The funding comes by way of an investment made by ARM-Harith Infrastructure Fund (ARMHIF) in the company.
In a statement, Amandi Energy said the power plant under construction in Aboadze was the only large-scale energy infrastructure funded entirely by investors that reached financial mobilization in 2016.
“The $ 552 million required for this electrical project has been mobilized in the form of $134 million of equity raised from a group of investors including Endeavor Energy, Amandi Founder Group, Aldwych International, Pan African Infrastructure Development Fund 2, and ARMHIF. Debt financing worth $418 million was also mobilized from the Overseas Private Investment Corp., CDC Group, Nedbank and Rand Merchant Bank,” the statement read.