We are pleased to advise that Kapok Capital has advised Reservoir Capital Corp, a Canadian listed company investing in renewables projects in emerging markets, on the acquisition of a 60% interest in Kainji Power Holdings Limited (KPHL) in a share swap transaction.
KPHL holds an interest in Mainstream Energy Solutions Limited, the company which holds the concession to operate the Kainji and Jebba hydroelectric projects in Western Nigeria. The Kainji and Jebba projects have a capacity of 922 MW and generate roughly 20% of the electricity in Nigeria.
The transaction remains subject to shareholder and stock exchange approval.
Full details of the transaction are available at http://www.reservoircapitalcorp.com/s/News.asp?ReportID=834615