PARTNER: Africa-focussed corporate partner with a focus on M&A, joint ventures, strategic alliances and fundraising across a wide range of sectors including energy, resources and infrastructure. Conrad also advises on the project development corporate/equity aspects of project finance transactions. He has acted on a number of key corporate and project finance transactions such as (i)_advising AP Moller Capital on its acquisition of the IberAfrica IPP in Kenya (ii) Climate Fund Managers on its investment in a portfolio of hydro power projects in Uganda . (iii) Africa Finance Corporation / Infraco / Cenpower Holdings/ Sumitomo on the $900m 350MW Kpone IPP in Ghana (iv) acting for Amandi Group and other sponsors of the 200MW IPP in Ghana; (v) acting for the sponsors (Berkeley Energy and Reykjavik Geothermal) of the $2 billion Corbetti geothermal IPP in Ethiopia; (vi) acting for KFW in the implementation of an initiative to develop more renewable power projects in Africa; (vii) acting on five other ongoing IPPs in Ghana and a number of other projects in the region; (viii) acting for a NYSE listed infrastructure operator in relation to the acquisition of a desalination project in Ghana. Conrad has led the corporate aspects of many “first” power projects in jurisdictions across sub-Saharan Africa including in Ghana and Ethiopia.
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Fiona Gulliford is a partner in Trinity International LLP and has a wide range of experience in the power and infrastructure sectors in various jurisdictions, including the Middle East, Central Asia and Europe, with a focus on emerging markets, particularly in Sub-Saharan Africa. Fiona advises both developers and financial institutions including commercial lenders, DFIs and ECAs. In recent years, Fiona’s primary focus has been the provision of advice to developers of energy projects, in particular renewable energy projects in anglophone and francophone Sub-Saharan Africa, nuclear energy in Europe, hospital PPPs in Central Asia and provision of general project financing advice to lenders across a range of emerging markets. Fiona leads the Trinity Off-Grid power practice, and her practice encompasses mini-grids, captive power, solar home systems and rooftop solar initiatives. Fiona is currently advising lenders in respect of a mini-grid financing in Nigeria being structured as an equity investment with a sale and purchase arrangement to refinance the equity debt, and is working with IFC on the creation of a Scaling Mini-Grid program for deployment in Sub-Saharan Africa – with potential to roll out in Asia – which aims to upscale and standardise documents for off-grid distributed solar power to encourage investment in the sector. Fiona is also advising another DFI with a program to scale up mini-grids in rural areas of Uganda through the Get Access program. Fiona also advises both Lenders and developers in respect of rooftop solar and solar home system corporate financing and re-financings on portfolios which cover sub-Saharan Africa and Asia. This focus on electrification of under-developed areas of emerging market jurisdictions is part of the Firm’s commitment to working on projects with a social infrastructure bias, and Fiona is passionate about grass roots development in emerging markets and has contributed to virtual discussions on how to inject private investment into off-grid power infrastructure initiatives.Fiona also leads the Trinity Central Asian practice and other “out of Africa” jurisdictions. Fiona is working on current mandates in Kazakhstan (hospital PPP) and a solar IPP in Uzbekistan, and is managing a portfolio of five solar power projects and two wind projects (including the largest in country) in Ukraine, and has also recently assisted lenders to a commercial bank in Ukraine. Fiona continues to advise FRAMATOME (formerly Areva N.P) in relation to the Hinckley Point Nuclear Power Project in the UK, and has experience advising on nuclear power projects in both the UK and France, and bids for nuclear power projects in South Africa.Fiona’s recent transactions include representing: Recently mandated to advise the Asian Development Bank on a 200-350MW solar power project in Uzbekistan; IFC in relation to the design and structuring of a Scaling Mini-Grids Programme, to be rolled out initially in Nigeria and DRC, by creating template documents and financing and credit support package which we hope to deploy in other emerging markets in Sub-Saharan Africa and other regions; KfW in respect of the Get Access program to scale up mini-grids; Lenders in respect of a bid for the REIPPP 5 solar round in South Africa and Engie in respect of bids for the RMIPPP in South Africa EBRD and the Kazakhstan Government (health ministry) in relation to the Almaty Training Hospital PPP - working to put together a bankable project for international investment, with credit support available through other DFIs; EBRD in relation to advising a Central Asian Government on bankability issues in power purchase agreements; Lenders to the first IPP to close in Burundi (which represents 20% of the country’s energy needs) and the first IPP to use the regional liquidity support facility letter of credit, which is currently being refinanced by DFC; Representing a solar home systems developer in respect of its group level refinancing and restructuring of its debt – this involved managing significant numbers of existing secured and unsecured lenders, including crowd funding investment platforms, to create a structure acceptable to DFI senior debt funds Scatec Solar in relation to five solar IPPs in Ukraine NEOEN SA in relation to the first World Bank Scaling Solar project to reach financial close in Zambia; Lenders in respect of an innovative senior debt financing structure being used to finance Mini- Grid portfolios in Nigeria for PowerGen and CrossBoundary. This transaction uses a unique sale and purchase model to attract investment rather than a conventional senior debt project finance structure Lender to the project financing of the 250MW Syvash Wind Park, the biggest wind park project in Ukraine and advising on a similar mandate for a 110MW wind park in Ukraine; EDFI in relation to the financing of off-grid projects in Mozambique; DFI Lenders in relation to the financing of off-grid projects in Kenya and Rwanda; Wartsila in relation to a thermal IPP in Malawi and Voltalia S.A in respect of a solar IPP in Malawi. Fiona has also worked on a number of IPPs and IWPPs projects across the Middle East, in Bahrain, Oman, UAE, Yemen, Egypt and Saudi Arabia. Fiona has also worked on numerous infrastructure financings for both sponsors and lenders, including road projects and rail financings in Eastern Europe and telecom finance transactions in both Cap Verde and Burundi.Recent Seminars: Contributor - Trinity Talks (online training via weblink/YouTube): Various topics, including Off-Grid financing, update on the Central Asian power market and closing transactions during the pandemic (2020). Recent conference speaking: UK - Africa Virtual Trade Mission – Legal Services Are Great - Green ambitions: Supporting sustainable investment in a post-Covid environment, December 2020 AIX C&I Webinar- C&I policy and regulatory approaches, June 2020
Kaushik is a partner at Trinity International LLP. Kaushik advises lenders and borrowers on project and corporate finance transactions in emerging markets with a particular emphasis on projects within Africa. Kaushik was part of the Trinity team advising the sponsors on the Amandi IPP in Ghana, the Azura IPP in Nigeria and advising the Lender group (comprising African Development Bank, EIB, DEG, Proparco, FMO, EKF, Standard Bank and Nedbank Capital) on the 310MW Lake Turkana wind project in Kenya. Kaushik is currently advising on project finance transactions in over 20 African jurisdictions in both Anglophone and Francophone Africa. He heads Trinity’s DFI practice and co-heads its Francophone practice and Paris and Washington DC offices. Kaushik is currently advising sponsors in relation to infrastructure and energy projects in Ghana, Kenya, Burundi, Mali, Djibouti, Brazil, Bangladesh, Sri Lanka, Uganda, Cameroon and DRC. Kaushik advises commercial banks including Standard Bank, Absa/Barclays, Nedbank and Rand Merchant Bank and DFIs such as African Development Bank, CDC, EIB, DEG, FMO and Proparco on project, property and financial institutions transactions. He has experience in solar, wind, geothermal, thermal and hydro power transactions as well as in ports, roads, airports and healthcare infrastructure and all forms of PPPs.
Luke is a partner at Trinity International LLP. Luke advises on project contract documentation, specialising in construction contracts, operation and maintenance contracts, LTSAs, power purchase agreements, implementation agreements, concession contracts and ancillary documentation such as direct agreements and performance security. His experience includes projects across the energy and infrastructure sectors in Africa, the UK, Europe, the Middle East and China. He is also part of the Trinity Francophone team and a fluent French speaker.Luke trained and qualified as a solicitor at Allen & Overy LLP, was a Senior Associate in its Projects, Energy and Infrastructure group, and worked in the London, Paris and Luxembourg offices. He joined Trinity in 2012 and has been a Partner since 2018.Luke received his LLB (Hons) from the University of Liverpool and a licence en droit from the Université de Paris I: Panthéon-Sorbonne.Luke’s recent work highlights include:• advising Inspired Evolution in its investment into ESCOTEL, a supplier of energy services to telecoms networks in Sierra Leone, Liberia and DRC, with co-investors Norfund and Sagemcom• advising sponsors on a 38MW solar PV project in Burkina Faso;• advising sponsors on a 24MW solar PV project in Burkina Faso;• advising the government of Lesotho in respect of a solar PV project;• advising sponsors on a 16MW solar PV + battery storage project in Senegal on EPC and O&M arrangements;• ongoing advice to the project company on the landmark Amandi IPP on all aspects of ongoing construction and financing matters. Amandi was the only large-scale base load IPP to achieve financial close in sub-Saharan Africa in 2016;• advising Africa Finance Corporation (AFC), Climate Fund Managers (CFM), FMO, the Dutch development bank and Great Horn Investment Holdings (GHIH) in the development of a 60MW windfarm in the Ghoubet area, near Lake Assal in Djibouti, especially in relation to the power purchase agreement, implementation agreement, government guarantee and grid connection arrangements.
SENIOR PARTNER: Acting on a number of major award winning infrastructure projects including for African Development Bank / Standard Bank / Nedbank/ EIB on the 300MW Turkana Wind IPP in Kenya; acting for Africa Finance Corporation in the development of the Blue Line mass transit system in Lagos, Nigeria; acting for the sponsors of the only two power plants to reach financial close to date in Ghana being (i) Africa Finance Corporation / Infraco / Cenpower Holdings/ Sumitomo on the $900m 350MW Kpone IPP in Ghana and (ii) acting for Amandi Group and other sponsors of the 200MW IPP in Ghana; acting for the sponsors (Berkeley Energy and Reykjavik Geothermal) of the Corbetti geothermal IPP in Ethiopia; acting for Meridiam Reykjavik Geothermal in the development of the Tulu Moye Geothermal Project in Ethiopia; acting for KFW in the implementation of an initiative to develop more renewable power projects in Uganda and Zambia; acting on seven other ongoing IPPs in Ghana and a number of other projects in the region; acting for the Government of Seychelles in an innovative “floating solar” IPP; and acting for Lekela (the renewable JV established between Mainstream and Actis) on a major 225MW wind IPP in Ghana. Paul has led the legal efforts in many “first” power projects in jurisdictions across sub-Saharan Africa including now in Kenya, Uganda, Tanzania, Ghana, Ethiopia and Seychelles and continues to develop the IPP market across the region.
Partner, Energy and InfrastructureRinku advises sponsors, funds, host governments, export credit agencies and commercial lenders on the development, acquisition and financing of international energy and infrastructure projects. Rinku’s practice spans a number of sub-sectors including infrastructure, renewables, thermal power and oil and gas. Rinku has acted for FTSE 100 companies, IOCs, NOCs, oil and gas majors, commercial banks, multilateral and development banks, infrastructure funds and start-ups. Rinku has deal experience across Africa (including Morocco, Cameroon, Ghana, Ethiopia, Sudan, Kenya and South Africa) and the Middle East (including Qatar and Saudi Arabia), and has significant deal experience in the UK and Europe.