Herbert Smith Freehills advises African power provider Anergi on the financial close of the Nant Project in Sierra Leone

The Nant Project, developed and operated by CECA SL Generation Ltd, is Sierra Leone’s first large-scale independent power project. Under a 22-year Power Purchase Agreement with the Electricity Distribution and Supply Authority and the Government of Sierra Leone, the plant will nearly double the country’s electricity generation capacity, delivering reliable power and addressing critical long-term energy needs.

The project has secured US$292 million in senior debt financing from the U.S. International Development Finance Corporation (DFC) and US$40 million from the ECOWAS Bank for Investment and Development, with TCQ Power and Anergi contributing US$85 million in equity financing. Construction, led by Shapoorji Pallonji using Siemens CCGT technology, is expected to deliver first power by Q3 2027.

Herbert Smith Freehills advised Anergi on all aspects of the transaction. The team was led by partner Rebecca Major in Paris, with support from regional head of practice for Projects in UK, US, Middle East & Africa and chair of the Africa Practice Martin Kavanagh and senior associate Raïssa Bambara on project finance matters and of counsel Roman Churakov on M&A matters in London, and Brigette Baillie and Jean Meijer and their teams on projects and on competition matters respectively in Johannesburg.

The Herbert Smith Freehills team was assisted by Sierra Leone lawyer, Patrick Lambert.

Partner Rebecca Major commented: "Advising Anergi on this transformative project has been a privilege. The Nant Project marks a major step forward for Sierra Leone’s energy sector, delivering vital infrastructure that will enhance energy reliability and drive long-term economic development.”