- Veolia and NORFUND have launched a new investment platform in Africa to support ecological transition in industrial sectors.
- The platform will offer integrated solutions, including design, construction, operation, and financing for projects ranging from €3 million to €50 million.
- NORFUND’s involvement expands its investments in Africa.
Veolia, a leading French environmental services group, has partnered with the Norwegian Investment Fund for Developing Countries (NORFUND) to create a new investment platform in Africa. This venture aims to support ecological transition in the industrial sector.
The agreement marks a significant step for Veolia, which specialises in environmental solutions. The new platform will enhance Veolia’s African operations by targeting industrial companies.
The initiative aligns with Veolia’s GreenUp programme, a €2 billion plan dedicated to ecological transformation. The programme seeks to modernise industrial processes to be more environmentally friendly.
The platform will offer integrated solutions, including design, construction, operation, and financing. It will provide these services through a one-stop model featuring off-balance sheet financing options.
NORFUND and Veolia plan to develop, finance, build, and manage assets that cut carbon emissions, optimise water use, and ensure sustainable waste management. They will tackle projects with budgets between €3 million and €50 million.
The platform will focus on resource-intensive sectors like food and beverage, materials, chemicals, and mining. It will deliver turnkey solutions and performance-based contracts to clients in these industries.
Key areas of focus will include water reuse and energy efficiency projects. By partnering with Veolia, NORFUND expands its investment activities in Africa.
NORFUND has established a strong presence in the renewable energy sector across sub-Saharan Africa. It has invested in large-scale solar energy projects, solar home systems, and energy use mechanisms.
In recent years, NORFUND has also entered the industrial sector. It has funded low-carbon cement projects in Ghana and sustainable forestry initiatives.
The Norwegian fund’s portfolio in Africa is valued at $3.6 billion. It invests in sub-Saharan Africa, South and South-East Asia, and Latin America.
This new platform represents a significant opportunity for both Veolia and NORFUND. It promises to drive sustainability and support industrial development across Africa, contributing to broader ecological goals.