June 9th 2016: Emerging Capital Partners (ECP) is delighted to announce that two subsidiaries of its portfolio company, Eranove, a leading electricity and drinking water provider in West Africa, have been recognized for their contributions to sustainable development. Compagnie Ivoirienne de Production d’Electricité (CIPREL) in Côte d’Ivoire and Kenié Energie Renouvelable (Kenié) in Mali both received accolades for their responsible approach to business and their developmental and social impacts in their respective countries.
CIPREL won “Portfolio Company of the Year” at the 2016 Private Equity Africa GP & Advisor Awards hosted by Private Equity Africa, a London-based news source focusing on Africa’s private equity industry. CIPREL was recognized for the developmental impact of its combined-cycle facility, CIPREL IV, which began operations earlier this year and increased the plant’s total capacity to 556 MW, solidifying CIPREL’s position as the leading and largest independent electricity provider in Côte d’Ivoire. The project also demonstrates a meaningful environmental advancement, emitting 500,000 fewer tons of carbon dioxide annually as compared to an equivalent gas-fired turbine.
CIPREL was also honored for “Best Sustainability Deal” by EMEA Finance Magazine, an information source for the corporate finance and investment banking industry in Emerging Europe, Middle East, and Africa (EMEA). In the same awards program, Kénié received “Best Water Deal,” an international recognition. This was based on Eranove’s agreement with the Republic of Mali in 2015 to build and operate a hydroelectric power plant on the Niger River. The plant is scheduled for completion in 2020.
Accepting the awards, Andrew Brown, Chief Investment Officer at ECP, said, “We are very proud that CIPREL and Kénié are being recognized for their outstanding results and progress in the development of an innovative energy infrastructure. Such innovation will enable Africa to meet its electricity needs in an increasingly sustainable and profitable way. We look forward to continuing to support Eranove, CIPREL, and Kénié in their continued growth.”