Orrick Advises Consortium on Signing Concession Agreements for Moyi Power Project in Democratic Republic of Congo

June.15.2021

Version française : Orrick conseille Gridworks, Eranove et AEE Power dans le cadre de la signature de conventions de concession relatives au projet Moyi Power en République Démocratique du Congo

Orrick has assisted Gridworks, Eranove and AEE Power in the conclusion of concession agreements for the development and financing of mini-grids and power generation plants in the cities of Gemena, Bumba and Isiro, in the north of the Democratic Republic of Congo (DRC). The 22-year agreements were signed between the DRC, represented by the Minister of Hydraulic Resources and Electricity, and concessionaire entities incorporated in the DRC by the consortium for the purpose of the project.

Named "Moyi Power ", the project is valued at approximately $100 million and will be financed with equity as well as with external financing and grants from international donors.

For this project, Gridworks, a subsidiary of the UK’s development finance institution, CDC Group, and a developer and investor in Africa’s power grids, teamed up with Eranove, an industrial group that operates and develops water and power utilities across Africa, and with AEE Power, a Spanish construction firm.

Orrick's team involves Yves Lepage and Foucaud Jaulin, partners in the Energy & Infrastructure practice.