Beltone Holding is participating in the financing and structuring of Mauritania’s first gas-to-power development, following a Joint Development Agreement signed by Go Gas Holding and Madkour Holding to advance the Banda and Tevet gas fields.
Under the mandate, Beltone’s investment banking arm will serve as exclusive financial advisor to Go Gas Holding, supporting the arrangement of debt and equity funding required for upstream field development and the planned power generation facility. The gas produced from the fields is expected to serve as the project’s primary fuel source.
Initial plans target the development of a gas-fired power plant with a generation capacity of around 200 megawatts in the first phase, with potential expansion to approximately 365 megawatts at a later stage. The Banda and Tevet fields are estimated to hold about 1.3 trillion cubic feet of gas resources, providing a domestic supply base to meet future electricity demand.
The project aligns with Mauritania’s strategy to strengthen its energy infrastructure, improve supply reliability, and support economic activity and industrial growth. It also reflects a broader West African trend toward gas-based power solutions, as countries seek to diversify energy sources and attract investment in large-scale infrastructure projects.
For financial advisors and developers, the transaction highlights the continuing opportunities in frontier energy markets, particularly in projects that integrate upstream resource development with downstream power generation.
