Nigeria: ARM-Harith Infrastructure Fund in energy platform deal

The ARM-Harith Infrastructure Fund (ARMHIF) has made an investment of $18.75 million into Elektron Power Infracom (EPI), a Mauritius-incorporated decentralised energy platform company dedicated to the delivery of hybrid energy solutions across West Africa. EPI has existing assets in Nigeria.

EPI, sponsored by Elektron Energy Development Strategies Limited, comprises brownfield and greenfield power assets. It supplies power to commercial and industrial customers and directly to broad-based consumers under the embedded energy framework for power delivery in Nigeria.

ARM-Harith’s role in the project includes providing late-stage project development advisory and structuring support to deliver a bankability framework for power projects to be delivered under Nigeria’s decentralised embedded energy framework. ARM-Harith’s investment was made via equity, shareholder loans, and loan notes.

Legal advisors for the transaction were Templars and Trinity International LLP.

Tariye Gbadegesin, the CEO of ARM-Harith Infrastructure Investments commented, “We are absolutely delighted to have completed the investment in EPI as we consider the role of privately delivered power as central to solving the energy constraints in the Nigerian power sector and potentially in Africa as a whole. The EPI investment is a significant step towards achieving ARM-Harith’s goal of investing in sustainable infrastructure projects that support economic growth and development in Nigeria and we are excited to be a part of this important investment.”

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