The development of offshore renewable energy in Africa is still in its nascent stages, with a number of offshore solar, wind and tidal projects currently going through feasibility studies in countries such as South Africa and Ghana.
Our finance and projects lawyers advise on all aspects of financing. We share knowledge and skills in deals involving: lending and borrowing, debt securities, derivatives, funds, portfolios as well as energy, infrastructure, transport matters and other projects.
IKM’s Finance practice, headed by Anne Kinyanjui, has vast experience and industry insight in the specialist areas of finance, enabling us to advise clients from diverse business sectors. Our lawyers act for over 20 commercial banks, a number of which are the top-tier financial institutions in Kenya.
IKM’s Projects practice, headed by Beatrice Nyabira, has substantial experience across a diverse band of undertakings that include public-private partnerships (PPPs), energy (geothermal, hydropower, wind, solar and coal), and social infrastructure (health, housing and transport). Our knowledge base from working with clients across the public and private sectors means that we have a comprehensive understanding of each of the stakeholder’s concerns and are able to structure transactions in a manner that specifically addresses their needs.
Experience has included advising:
- OPIC jointly with DLA Piper, in connection with facilities to be granted to Acorn Holdings Limited which is a leading real estate developer in Kenya for financing 10 mixed-use development projects.
- Stanbic Bank Kenya Limited in a transaction involving real estate financing.
- A top-tier commercial bank in Kenya in the financing of a used aircraft which required a high degree of due diligence over the aircraft and security documentation proceedings.
- East African Breweries Limited as the borrower in connection with the financing of its new brewery in Kisumu.
- Radiant Energy Limited on the financing of two 40 MW solar power projects.
- CDC Group Plc, the lenders, on the financing of a 40 MW solar project in Malindi, Kenya.
- The Kenyan government on the USD500 million procurement of medical equipment for 94 hospitals in all 47 counties in Kenya through a managed equipment services arrangement.
- The sponsors of a USD1.8 billion energy project on the development of a 100 MW wind power plant in Kajiado, Kenya.
- A client in connection with its proposed investments in Mombasa port, Lamu port and the new Lamu industrial city.
- A consortium of investors in connection with a proposed primary healthcare project to be piloted in Makueni County before being scaled-up to all 47 counties in the country using a privately-initiated investment proposal model.
- Environment, Energy and Natural Resources Team of the Year, Small to Mid-Practice (Africa Legal Awards 2022)
- Ranked Band 1 in Banking & Finance (Chambers & Partners 2022)
- Ranked Tier 1 in Banking & Finance and Capital Markets (The Legal 500 2019 - 2022)
- Ranked Tier 1 in Capital Markets (IFLR1000 2022)
- Ranked Tier 1 in Projects & Privatization (The Legal 500 2019 – 2022)
- Ranked in Projects & Energy (Chambers & Partners 2022)
- Ranked in Projects Development (IFLR1000 2022)
- Ranked in Banking & Finance (IFLR1000 2022)
- Ranked Band 1 in Banking & Finance (Chambers & Partners 2019)
- Ranked Tier 1 in Banking & Finance (The Legal 500 2019)
- Ranked Tier 1 in Finance & Corporate (IFLR1000 2019)
- Ranked Band 2 in Projects & Energy (Chambers & Partners 2019)
- Ranked in Projects & Finance (IFLR1000)
The transition to electric vehicles (EVs) cannot be gainsaid as the elimination of tail pipe emissions is a central part of the climate change offensive. Kenya’s electric mobility ambitions led it to sign the COP26 declaration on accelerating the transition to 100% zero-emission vehicles. The brutal truth is that we have little choice about switching to EVs because car manufacturers will over time abandon internal combustion engines (ICEs) given the stance of regions like the EU, which will effect a ban on new ICE vehicle sales by 2035.
Kenyans may be paying up to thirty times more for everyday medicines. This is according to a 2019 study from the Center for Global Development, which reported that low to middle income countries sometimes pay up to thirty times more for medication compared to high income countries.
When a company is facing financial difficulty, one of the instinctive actions often taken by directors is to resign from their position. They do this in a bid to distance themselves from the failures of the company due to reputational damage and personal liability that may attach.
A prosumer is a portmanteau of a producer and a consumer. The Energy Act 2019 provides for small producers of renewable energy for their own use to sell their surplus electricity to the national grid, which makes them prosumers. Prosumers only pay for the ‘net’ electricity they consume from the grid through a mechanism known as Net Metering. Draft regulations for Net Metering were released for public comment by the Energy and Petroleum Regulatory Authority (EPRA) in June 2022.