African Infrastructure Investment Managers (AIIM) on 29 January announced that it has acquired a minority stake in the 192MW Amandi thermal power project in Ghana. The investment is being made through its African Infrastructure Investment Fund 3 (AIIF3), which has purchased the entire shareholding of the Rontom Trust, one of the companies controlled by the project’s original founders.

Amandi has been under construction since December 2016 and is expected online in April next year. Greece’s Metka is the engineering, procurement and construction contractor. General Electric is supplying 9E.04 tri-fuel turbines for the plant, which is expected to operate primarily using light crude oil, as well as natural gas when available.

The plant is majority owned by Denham Capital’s Endeavor Energy, with the Amandi Founder Group, Aldwych International, the Harith General Partners-managed Pan African Infrastructure Development Fund 2, and ARM-Harith Infrastructure Fund also holding stakes.

AIIM is part of Old Mutual Alternative Investments and currently manages assets worth $2bn across the power, telecommunications and transport sectors. In Ghana, AIIM funds invested in the Cenpower Kpone plant, which reached financial close in 2014. AIIF3 has made five investments, including Amandi; Nigerian energy services company Starsight Power Utility Ltd, hydropower developer AIIM Hydroneo, Tanzanian dry bulk terminal operator DSM Corridor Group, and Albatros Energy Mali which is developing a 90MW HFO plant.