In February 2009, EAIF made a USD 1 million equivalent equity investment in and provided a EUR 6 million loan to Aldwych, a developer of independent power plants in Africa. The financing was part of a new funding round consisting of both debt and equity for Aldwych, which will allow Aldwych to finance the development and equity investment cost of additional independent power plant projects in sub-Saharan Africa. Aldwych has several such projects under development, which will assist African countries in increasing electricity supply and in lowering the cost of their electricity supplies.
The total new debt package for Aldwych was Eur 27.07 million, of which EUR 6 million was provided by EAIF.. The total new equity subscribed for was GBP 14.6 million.
In this funding round for Aldwych, EAIF co-invested with the Pan African Infrastructure Development Fund (PAIDF) and FMO of the Netherlands as equity co-investors and with Absa, PAIDF and FMO as debt co-financiers.