IFC works closely with major and junior oil, gas, and mining companies through our office in London, which is arguably one of largest global hubs for natural resource companies operating in emerging markets. From there, we help develop infrastructure projects that can meaningfully improve peoples’ lives in emerging markets, with a special emphasis on fast-growing cities where there are critical needs in power, utilities, and transportation.
IFC is investing $235 million in Vitol Ghana, a subsidiary of UK’s Vitol Group to support the Sankofa Gas Project, an integrated offshore oil and natural gas project that will provide a source of reliable, affordable energy in the West African country. The project will fuel up to 1,000 megawatts of power generation, helping Ghana meet its growing energy needs and transition oil-fired power generation to a cleaner burning alternative.
IFC provided a $200 million loan to Enel Brasil Participações, a subsidiary of Italy's Enel Green Power, to support the development, construction, and operation of 12 wind power plants in Brazil's northeast region. This will help meet growing power demand through 342 megawatts of new power generation capacity, helping to develop a poor region and contributing to climate change mitigation.
IFC made a $75 million equity investment in Seven Energy, a Nigeria and UK based midstream oil and gas exploration and production company, one of the few focused on supplying gas to the Nigerian market. This will support economic growth, create direct and indirect employment, and generate government revenues.