Casablanca—Dentons Morocco has advised Gaia Energy on a new partnership with the International Finance Corporation (IFC), a member of the World Bank Group, to create a joint platform for the development of wind power and other renewable energy projects in Africa. The new joint platform will start with a pipeline of 22 projects in nine countries across North, West and East Africa, representing a pipeline under development of more than three gigawatts. Originally developed by Gaia Energy, the pipeline will be progressively enlarged to new countries across the continent.

The joint platform will be implemented under IFC InfraVentures, a US$150 million global infrastructure project development fund created as part of the World Bank Group’s efforts to increase the pipeline of bankable projects in developing countries. It will also be supported by the €114 million Finland-IFC Blended Finance for Climate Program, which helps spur private sector financing for climate change solutions, especially innovative and early-stage projects in emerging markets.

Gaia Energy Holding is a leading independent large-scale renewable energy developer in Africa, headquartered in Morocco. Gaia is the first African company having a prevalence in ten energy markets under development. Gaia's main partners are large utilities, national grid operators and governments.

The IFC is the largest global development institution focused on the private sector in emerging markets. The IFC works with more than 2,000 businesses worldwide, using capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In fiscal year 2018, the IFC delivered more than US$23 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity.

The Casablanca-based Dentons team advising Gaia Energy was led by Morocco managing partner Patrick Larrivé, of counsel Benoit de Monval and senior associate Zakia Jabri-Abbadi.