December 20, 2010
The IFC says it has arranged a $99m financing package for West Kingston Power Partners in Jamaica. The IFC is providing $22m. The remaining $77m is a syndicated loan. Following are the participants: Bank of Nova Scotia Jamaica, First Caribbean International Bank, DEG, FMO, CAF, CIFI and Finland’s export credit agency, Finnvera. The loans complement almost $33m in equity provided by Conduit Capital Partners' Latin Power III fund. The loans are for 12 years, according to a source close to the company. Conduit Capital is sole sponsor of the West Kingston Power Partners and affiliate Jamaica Energy Partners. The IFC also says it has arranged $30m in long-term financing for Jamaica Public Service Company (JPSC) to help the company develop the 3.0MW Munro wind farm and the 6.4MW Magotty hydropower plant. The IFC and JPSC did not return calls for comment on terms.