International leading law firm Herbert Smith Freehills has advised the iron ore explorer and developer Genmin, on the signature of a long-term power purchase agreement for an initial term of 20 years, with Société de Patrimoine du Service Public de l’Eau Potable, de l’Énergie Électrique et de l’Assainissement (SdP, a Gabonese State-owned power utility) for the supply of renewable hydroelectricity to its 100% owned Baniaka iron ore project in the Republic of Gabon.
The milestone agreement provides for the initial supply of 30 megawatts, which can 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 35km north-east of Baniaka. Genmin will build, own and operate a 35km overhead transmission line between Grand Poubara and Baniaka.
The Herbert Smith Freehills team advising Genmin was led by partner Bertrand Montembault and included Paul Morton, of counsel, and Adil Kourtih, associate.
