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Impact Investment
We are Africa’s Climate Impact Investor. We have invested over US$150M in climate impact projects and secured US$38M through USAID, the largest energy infrastructure bond in Nigeria and first ever credit enhancement provided by the US government in Africa.
Our key value propositions in the sustainable energy sector are:
With unmatched expertise in energy infrastructure development; engineering, procurement and construction (EPC); and operations and maintenance, GENESIS has amassed a development pipeline of up to 3GW, contracted a capacity of 450MW and secured operational assets over 130MW across Africa.
Genesis’ strong balance sheet coupled with a credit rating of Triple B+ and long-standing financial partnerships, allows GENESIS to fund project development activities and procure construction equity.
Through our strategic financing partners, GENESIS has access to construction financing and EPC & F capabilities which reduces the delays compared to traditional forms of Project Finance.
Selected Investments
84MW GAS-FIRED POWER PLANT
Fully Financed 84MW (Megawatts) Multi Gas-fired General Electric “GE” gas turbines with investment of over US$100 million providing uninterrupted power to one of Africa’s largest complex refineries – the Port Harcourt Refinery Company Limited (PHRC) for the ninth year running.
43MW INDEPENDENT POWER PLANT
GENESIS is the 100% sole investor to the recently contracted 43MW IPP in Benin Republic, a project which promises Emerging Africa Infrastructure Fund “EAIF” as a lender with a substantial grant. The IPP when commissioned is estimated to serve over 200,000 Benin citizens.
TRANSMITING 120MW TO NATIONAL GRID
GENESIS secured the approval of the Transmission Company of Nigeria to transmit an additional 120MW to the Nigerian National Grid, bringing the total installed capacity to 204MW once commissioned.
USD 38M ENERGY INFRASTRUCTURE BOND
GENESIS recently secured the landmark support of the United States Government, who issued an unconditional and irreversible Guarantee through USAID for GELUL’s Series – One Energy Bond of approximately $38million (the largest energy infrastructure bond in Nigeria and the first ever such credit enhancement provided by the US Government in Africa). This is part of a more extensive ~$150 million issuance program, approved for issuance by the Nigerian Stock Exchange Commission (SEC).
ENERGY BOND
In addition to the unconditional guarantee issued by USAID (fully backed by US Government’s Balance Sheet), a second Co-Guarantee was also procured by GENESIS for the Energy Bond from the Nigerian Sovereign Wealth Fund and Africa Finance Corporation (through InfraCredit).
