DEG & African Development Bank Lead US$84 Million Loan for Berkeley-backed ARPE (Sub-Saharan Africa)
ARPE, a Uganda-based power project developer backed by emerging markets-focused fund manager Berkeley Energy and Italy-based construction company PAC, has received a US$84 million loan package to support the construction of a 42-megawatt hydroelectric plant in the Pader district of northern Uganda. The African Development Bank will commit US$19 million and a consortium of European development finance institutions led by DEG will provide the remaining US$65 million, of which DEG will contribute US$25 million. The consortium includes the Evangelical Bank-advised European Renewable Energy Fund for Emerging Markets (EREFEM), Belgian Investment Company for Developing Countries (BIO), the OPEC Fund for International Development (OFID) and the Emerging Africa Infrastructure Fund (EAIF), a joint public-private investment fund owned by the Private Infrastructure Development Group and managed by Investec Asset Management.
PAG Asia Capital, the private equity arm of Asia-focused alternative investment management firm PAG, has led a US$100 million Series C round for China-based online used-car auction platform Mychebao. The company, also known as Chezhibao, will use the funds to provide financial, logistics, cloud technology and car evaluation services to user-car retailers. Concurrently, the company also announced the completion of the acquisition of China-based high-end used-car trading platform Youyiche, which will operate under the Mychebao brand.
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