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Project Financing

At Vicage Investment we structure comprehensive, bankable project financing solutions that transform visionary ideas into deliverable outcomes. From feasibility and capital structuring to execution oversight and lifecycle support, we enable sponsors and investors to pursue large-scale initiatives with confidence.

Project financing is distinct from traditional corporate funding: repayment is principally sourced from the project's own future cash flows rather than the sponsors' balance sheets. This enables organizations to execute capital-intensive programs—whether in infrastructure, energy, real estate or technology—without materially disrupting corporate leverage. At Vicage Investment, we treat project financing as a strategic partnership: we design resilient capital structures, allocate risk responsibly, and coordinate stakeholders to create sustainable, long-term value.

Our methodology blends rigorous financial modelling, market and technical due diligence, regulatory navigation, and proactive lifecycle governance. The result: projects that attract global capital on competitive terms and are managed for performance through construction and into operations.

Below you’ll find our detailed approach, the sectors we support (with imagery), common financing structures, governance & ESG practices, and practical next steps for sponsors and investors.

Our Comprehensive Approach

Initial Conceptualization & Feasibility

We work with sponsors to translate concept into a bankable proposition. Our feasibility analyses include demand modelling, technical reviews, cash-flow forecasting and sensitivity testing to stress test viability under multiple scenarios.

Risk Assessment & Allocation

We produce a comprehensive risk register (construction, market, counterparty, regulatory, FX) and propose pragmatic allocation frameworks so each risk is borne by the party best able to manage it.

Structuring & Capital Sourcing

Our structuring sets an optimal capital stack (equity, senior debt, mezzanine or blended finance). We then syndicate and negotiate terms with a global investor base including banks, institutional funds and development finance institutions.

Regulatory Navigation & Compliance

We coordinate legal, environmental and tax advisors to secure permits and regulatory approvals. Our work reduces execution risk and aligns projects with ESG and local compliance requirements.

Execution, Monitoring & Lifecycle Management

Following financial close we remain engaged—tracking milestones, monitoring cashflow performance, and advising on refinancing, monetization or operational improvements as required.

Why Project Financing Matters

Project financing allows sponsors to pursue capital-intensive ventures while preserving corporate flexibility. For governments and municipalities, it enables critical infrastructure delivery without unsustainable public expenditure. For investors, well-structured projects offer predictable cash flows and robust risk mitigation through contractual allocation and strong governance.

At Vicage Investment we view project financing as a tool to create shared economic value—linking capital, expertise and operational capability to projects that have measurable social and economic returns.

Key Sectors We Support

Infrastructure Development

Infrastructure Development

Roads, bridges, ports, and smart-city projects that unlock connectivity and economic opportunity.

Energy and Power

Energy & Power

Renewables, hybrid power schemes and transmission networks designed with bankable offtake and technical reliability in mind.

Real Estate and Urban Development

Real Estate & Urban Development

Mixed-use, residential and commercial projects that combine market insight with secure cashflow structures.

Technology and Innovation

Technology & Innovation

Data centers, broadband infrastructure and digital platforms that require specialized capital and operational partners.

Natural Resources

Natural Resources

Mining, oil & gas and sustainable resource projects structured for long-term commodity cycles and environmental stewardship.

Public Private Partnerships

Public-Private Partnerships (PPPs)

Collaborative models that allocate risk and align incentives between public sponsors and private capital providers.

Sample Financing Structures (Illustrative)

Greenfield PPP—Transport Corridor

Structure: Sponsor equity, senior project loan (syndicated), and availability-based payments from the public authority. Risk allocation: construction risk to EPC contractor (with performance bonds), demand risk shared via minimum availability payments. Value: Enables large civil works without immediate public balance sheet impact.

Brownfield Refinancing—Power Plant

Structure: Refinancing of existing debt with longer tenor and lower coupon, combining institutional debt with a minority equity holder. Objective: Reduce cash-service pressure and create capacity for expansion or modernization. Value: Immediate liquidity improvement and improved project bankability for future investors.

Renewable Build & Operate

Structure: Sponsor equity + construction loan → convert to long-term amortizing project finance debt upon commercial operations (PPA with an offtaker). Focus: Environmental permitting, interconnection risk mitigation, currency hedging for tariff exposure. Value: Attractive returns for investors seeking ESG-aligned cashflows.

Governance, Risk Management & ESG

Strong governance and rigorous risk controls are core to every financing we advise. We implement multi-layered due diligence, independent technical reviews, and contract governance frameworks that secure lender and investor confidence.

Environmental, Social and Governance (ESG) integration is embedded in our underwriting. We identify material environmental and social impacts, propose mitigation plans, and work with sponsors to achieve compliance with international standards—thereby enhancing access to concessional and institutional capital.

Why Choose Vicage Investment

Tailored Structures

We craft financing that reflects project realities—mixing equity, senior debt and mezzanine where appropriate to optimize returns.

Global Capital, Local Delivery

We match international investors with local expertise to ensure financing terms respect jurisdictional dynamics and local stakeholders.

Sustainability & ESG

ESG-aligned structures broaden capital access and improve long-term resilience—our advisory integrates these metrics at the outset.

End-to-End Partnership

From concept to operations we remain engaged—monitoring performance and advising on refinancing or value enhancement.

Typical Process Timeline

  1. Concept → Feasibility
  2. Structure & Risk Allocation
  3. Sourcing Capital
  4. Negotiation & Close
  5. Construction & Monitoring
  6. Operations & Optimization

Ready to discuss your project?

Contact Vicage Investment for a confidential consultation and an initial project review.

Vicage Investment • Email: info@vicageinvestment.com • Phone: +254 108 076 878