PowerGen Renewable Energy Partners with Leading Global Investors to Create a Scalable and Distributed Renewable Energy Platform in Africa
PowerGen Renewable Energy has collaborated with top-tier global investors to create a scalable and distributed renewable energy platform, aiming to produce 120 megawatts of renewable energy, including battery energy storage systems, across the African continent.
This platform is the result of a partnership between PowerGen and the Private Infrastructure Development Group, the Danish Investment Fund for Developing Countries, the Electrification Financing Initiative (EDFI) Management Company, supported by the European Union, and the African Development Bank's Sustainable Energy Fund for Africa. This partnership has also provided technical support to PowerGen and previously financed ElectriFi and SEFA.
The African Development Bank (AfDB) has expressed its delight in continuing to support PowerGen's expansion during this cycle, demonstrating the catalytic impact of their initial engagement. This project showcases how targeted financing in the initial phase can unlock revolutionary solutions for access to sustainable energy in developing markets.
