TAQA Lands Funding For $400M Ghana Power Plant Expansion

Law360, New York (July 16, 2012, 2:50 PM EDT) -- Energy conglomerate Abu Dhabi National Energy Co. PJSC, or TAQA, has nailed down three-quarters of the financing for its planned $400 million, 100-megawatt expansion of a Ghanaian power plant, with a large chunk coming from private equity investment, the developer announced Monday.

Financial backing for the project, which just received government approval, will come from International Finance Corp. and a consortium of international development organizations led by the Netherlands Development Finance Co., better known as Dutch development bank FMO, according to a statement from the project...
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