Norton Rose Fulbright advises STOA, Swedfund and Proparco on their investment in Serengeti Energy
Global | Press release | July 2022
Global law firm Norton Rose Fulbright has advised STOA, a French impact fund specializing in infrastructure investment, Swedfund, a Swedish development finance agency, and Proparco, the private sector arm of the Agence Française de Développement, on their investment in Serengeti Energy.
Serengeti Energy is a Sub-Saharan hydro and solar-specialized independent power producer which develops, constructs, owns and operates grid-connected renewable energy resources in a region that is currently heavily dependent on fossil fuels. The investment is expected to increase the production of renewable energy, contribute to increasing energy access and promote sustainable economic development.
Proparco, Swedfund and STOA will provide their capital by a structured fund raise of US$80m.
Norton Rose Fulbright’s cross-border team was led by Paris partner Simon Cudennec. Directors Jackie Midlane and Loris Rech (Johannesburg) assisted on the due diligence aspects. Director Marianne Wagener (Johannesburg), partner Marta Giner Asins and counsel Arnaud Sanz (both Paris) advised on the competition aspects.
