IGA Capital Executes LOI with Power Africa US Aid

Dubai, UAE – July 22, 2024 – IGA Capital Finance Brokers LLC (IGA Capital) is pleased to announce a strategic partnership with Power Africa, an initiative coordinated by the US Government and The United States Agency for International Development (USAID), US Development Finance Corporation, and US Export Import Bank. This collaboration aims to enhance clean energy generation and expand electricity access across Africa, aligning with Power Africa's ambitious goals of adding 30,000 megawatts (MW) of cleaner and more reliable electricity generation capacity and creating 60 million new home and business connections by 2030.

Commitment to Support Power Africa:

IGA Capital intends to support Power Africa by:

- Generating over 10,000 MWs of energy

- Financing over $1 billion USD of investments

- Exporting US-made equipment and expertise

- Creating jobs for US citizens and bolstering US exports

- Utilizing advanced AI, machine learning, and big data to develop and roll out renewable and efficient energy solutions

- Reducing or avoiding 730 tons of CO2 per MW equivalent

About IGA Capital:

IGA Capital is a Dubai Headquartered firm with offices in Wyoming USA, and Mauritius Africa. IGA offers project and structured finance specializing in supporting project sponsors and exporters in natural resources, energy, infrastructure, real estate etc. With a strong presence in GCC and Africa, IGA Capital excels in limited recourse project financing and structured finance, ensuring maximum flexibility and robust financial solutions.

Primary Goals in Project and Structured Finance:

1. Maximize Debt Capital Participation: Engage commercial lenders to ensure significant debt capital involvement in transactions.

2. Responsible Lending Structures: Develop lending structures for creditworthy projects that safeguard the interests of all stakeholders.

Limited Recourse Project Finance:

IGA Capital offers ECA limited recourse project finance, focusing on the project's future cash flows for repayment. This model is particularly effective when hard currency revenues can be captured offshore or long-term off-take contracts guarantee project cash flows. The company collaborates with project developers or equity participants to create sustainable structures throughout the project's operational phase, exploring innovative structures like risk-sharing with suppliers and reinsurance.

Structured Finance:

In structured finance, IGA Capital, in partnership with ECAs and commercial lenders, considers overseas companies as potential borrowers based on their creditworthiness and balance sheet strength. IGA Capital has successfully executed structured transactions in diverse sectors, including multiple-country fiber-optic cable projects, oil and gas initiatives, air traffic control systems, telecommunications infrastructure, and manufacturing entities.

Environmental and Social Commitment:

IGA Capital operates in accordance with principles for safeguarding the environment, social accountability, health, human rights, and governance. The company adheres to OECD compliance standards, as well as UNDP and IFC standards for investment and project management. IGA Capital is a UAE licensed and regulated financial broker, reporting directly to the UAE Securities and Commodities Authority.

About Power Africa:

Power Africa is a USAID-coordinated initiative that seeks to leverage partnerships to bring more electricity to sub-Saharan Africa. It combines the efforts of technical and legal experts, the private sector, and governments to remove barriers that impede energy development in Africa.

For more information, please visit https://www.iga.capital/ or contact:

Joshua Hawley 

CEO, IGA Capital Finance Brokers LLC 

Email: info@iga.capital

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