Selected for its innovation and impact on the West African power sector, ContourGlobal’s Togo Power Project was named “African Private Power Deal of the Year” by Euromoney’s Project Finance magazine.

The publication drew attention to the “triple firsts” represented by the project: the largest infrastructure investment in the country’s history, the first independent power project in the country and the country’s first project financing.

Shearman & Sterling represented ContourGlobal on the EPC, O&M and financing aspects of the 100 MW triple fuel power plant being developed in Lomé, Togo, including with respect to its non-recourse financing from the Overseas Private Investment Corporation (OPIC).

The Togo Power Project is part of Shearman & Sterling’s commitment to Africa, a continent on which the firm has been active for more than 50 years. Among its ongoing, notable work, Shearman & Sterling is currently advising the commercial lenders on the Mmamabula power and mining project in Botswana, one of the largest and most ambitious IPPs to be developed in Africa to date, and Sonangol, the national oil company of Angola, on the LNG supply and gas offtake arrangements and terminal usage agreement in the greenfield Angola LNG Project.

The Togo Power Project was led by partners Howard M. Steinberg (New York-Project Development & Finance), Jeanne C. Olivier (New York-Project Development & Finance) and David Platt (London-Project Development & Finance) and included associates Erin Kelly (New York-Project Development & Finance) and John Paul Huntington Vigman (New York-Project Development & Finance).

Shearman & Sterling’s Project Development & Finance Group has a leading reputation in both New York and English law, with an integrated practice operating across its Abu Dhabi, Hong Kong, London, New York, Paris, Shanghai, Singapore, and Tokyo offices.