FOCOL Energy Infrastructure Project Advances with U.S. EXIM Support and US$325M Syndicated Loan Financing

NASSAU, BAHAMAS – On Tuesday, FOCOL Holdings Limited marked a defining advancement in The Bahamas’ energy infrastructure development, following a Financing Signing Ceremony and Partners Reception held at Sapodilla Estate in Nassau.

“The event recognized a major financing package supporting infrastructure connected to the responsible introduction of liquefied natural gas (LNG) into The Bahamas.”

“The financing structure includes support from the Export-Import Bank of the United States, the Private Export Funding Corporation, and US$325 million in syndicated loan financing from CIBC, Royal Bank of Canada, Scotiabank, and Bank of The Bahamas.”

“The syndicated loan financing represents a landmark expression of confidence by leading regional and Bahamian financial institutions in the future of energy infrastructure in The Bahamas.”

“The ceremony brought together government leaders, representatives of the United States Embassy, financing partners, FOCOL directors and executives, strategic partners, stakeholders, and invited guests to recognize the financing framework supporting one of the country’s most significant energy infrastructure initiatives.”

“Dexter Adderley, President and Chief Executive Officer of FOCOL Holdings Limited, said the financing represents more than capital. It reflects confidence in the project, its structure, and the partnerships required to deliver infrastructure of national importance.”

“Financing of this scale is never only about numbers. It reflects confidence in the project, in the structure behind it, and in the people responsible for delivering it,” said Adderley. “This support from our financing partners strengthens our ability to advance critical infrastructure that supports the responsible introduction of LNG and contributes to a more reliable and efficient energy future for The Bahamas.”

“Loan proceeds will be used to develop the LNG import, storage and re-gasification terminal at Clifton Pier, as well as the combined-cycle power plant at Blue Hills, which will facilitate 177 MW of natural gas-fired power generation.”

“The project forms part of a broader LNG-to-Power framework being advanced through New Providence Gas and its joint venture with Shell LNG, combining international energy experience with Bahamian operational leadership.”

“The infrastructure is intended to support a more modern energy platform, improve fuel flexibility, and contribute to long-term planning for reliability and efficiency across the energy system.”

“FOCOL noted that the participation of the Export-Import Bank of the United States and Private Export Funding Corporation reflects the importance of U.S.-Bahamas economic cooperation in supporting major infrastructure development.”

“The involvement of CIBC, Royal Bank of Canada, Scotiabank, and Bank of The Bahamas further demonstrates confidence from regional and domestic financial institutions in the project’s governance, execution framework, and strategic value.”

“Sir Franklyn Wilson, KCMG, Chairman of FOCOL Holdings Limited, said the financing reinforces the company’s long-standing commitment to national development and responsible investment.”

“FOCOL has always understood that meaningful national development requires vision, discipline, and the courage to invest in the future,” said Sir Franklyn. “This financing reflects the confidence that respected international, regional, and Bahamian institutions have placed in the direction we are pursuing. It also reinforces our responsibility to help advance infrastructure that serves The Bahamas not only for today, but for generations to come.”

“FOCOL said the financing announcement reflects continued movement from planning and structuring into disciplined execution, with a focus on long-term national value, responsible development, and strategic partnership.”

“The real value of this moment will be measured by what follows,” Adderley added. “Our focus remains on execution, accountability, and long-term national value.”