Herbert Smith Freehills advised Genmin on long-term supply agreement for renewable hydroelectricity
Herbert Smith Freehills advised Genmin on long-term supply agreement for renewable hydroelectricity
The initial understanding is for a term of 20 years
International leading law firm Herbert Smith Freehills has advised iron ore explorer and developer Genmin on the signature of a long-term power purchase agreement with Société de Patrimoine du Service Public de l'Eau Potable, de l'Énergie Électrique et de l'Assainissement (a Gabonese State-owned power utility) for the supply of renewable hydroelectricity to its 100 percent owned Baniaka iron ore project in the Republic of Gabon.
The milestone agreement provides for the initial supply of 30 megawatts. This could be increased to 50 megawatts to accommodate future expansion at Baniaka.
The renewable hydroelectricity will be provided from the Grand Poubara Hydropower Station located on the Ogooué River, approximately 35 km northeast of Baniaka.
Genmin will build, own and operate a 35 km overhead transmission line between Grand Poubara and Baniaka.
The Herbert Smith Freehills team advising Genmin was led by partner Bertrand Montembault. It included Paul Morton, of counsel, and Adil Kourtih, associate.
