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Contour Solutions: Cogent cogen
02 February 2011
EMEA Power Portfolio Deal of the Year 2010
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[contour]
[coca-cola]
[cogen]
[quad-gen]
[opic]
Export credit agencies have long looked for ways to finance a series of smaller projects while keeping a lid on transaction costs. But sponsors with a sufficiently strong pipeline of projects are a rarity, and not all of these projects will be eligible for ECA support. The resulting portfolio financing, though, is very attractive to sponsors.
Private equity-funded ContourGlobal and its management are probably best known as developers of conventional independent power projects, and its assets include Togo’s largest power plant (financed in 2009 with an Opic-provided loan) and the FibroMinn biomass plant in Minnesota. This segment lends itself to classic large single-asset project financings
But Contour’s other big business, which provides small inside-the-fence energy and water services to industrial users, is more demanding from a lender. ContourGlobal Solutions has a master agreement with Coca-Cola Hellenic, the second-largest bottler of Coca-Cola products, to provide power, water, heat and carbon dioxide...
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