Shearman & Sterling represented ContourGlobal on the engineering, procurement and construction (EPC), operations and maintenance (O&M) and financing aspects of its $146 million non-recourse financing from the Overseas Private Investment Corporation (OPIC) for the development of a 100 MW thermal power plant in Lomé, Togo.

The project is the first substantial foreign investment in Togo in over a decade and is one of the most significant investments in the West African power sector in over twenty years. ContourGlobal’s power plant, expected to be operational in February 2010, will produce approximately 780 gigawatt hours of electricity annually and will help the West African nation overcome an electricity shortage that has resulted in rolling blackouts and inhibited economic growth.

The deal was led by partners Jeanne C. Olivier (New York-Project Development & Finance) and Howard M. Steinberg (New York-Project Development & Finance) and included associates Erin Kelly (New York-Project Development & Finance) and John Vigman (New York-Project Development & Finance).

For more information, please contact: Ron Brandsdorfer | New York | T +1.212.848.5081 |