Befesa Desalination Plant

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The Befese desalination plant was a seawater desalination plant in Ghana. The project involved the construction and operation of a 60,000 cubic meter per day seawater reverse osmosis desalination plant in the town of Teshie-Nungua, Greater Accra region, for approximately 500,000 people in the region. The special purpose-vehicle Befesa Ghana was owned by Abengoa, Sojitz, and minority share-holder Hydrocol, a local community group. Befesa Ghana signed a 25-year water purchase agreement with national utility Ghana Water Company Limited (GWCL), which was the sole offtaker of the plant. The project was to draw from the national grid using a new transmission line. The project reached financial close on October 26, 2012. Standard Bank fully underwrote the $88 million 12-year debt facility for the $126 million project. The lender was negotiating with another South African bank to sell down part of the debt. MIGA provided a $179.2 million guarantee covering the debt and equity commitments. In February 2013, it was announced that Abengoa SA of Spain and Sojitz Corp. of Japan were covering 30 percent of the project costs with Standard Bank senior debt making up the balance. In May 2013, it was announced that BASF-subsidiary Inge was picked by Abeinsa as a project partner, to provide the plant with reverse osmosis technology in the form of ultrafiltration lines.