- The African Development Bank (AfDB) has partnered with PowerGen and other investors to deploy 120 MW of renewable energy solutions across Africa, targeting underserved regions.
- Initially focused on Nigeria, Sierra Leone, and the DRC, the initiative aims to provide electricity to millions and create significant economic opportunities.
The African Development Bank (AfDB) has joined forces with PowerGen Renewable Energy and other international investors to launch a scalable, distributed renewable energy platform to deploy 120 MW renewable power solutions across Africa. The platform will incorporate battery energy storage and focus on mini/metro-grids and commercial and industrial (C&I) power solutions.
This partnership also involves the Private Infrastructure Development Group (PIDG), the AfDB’s Sustainable Energy Fund for Africa (SEFA), the Danish Investment Fund for Developing Countries (IFU), and the EDFI Management Company through its Electrification Financing Initiative (ElectriFi). The initiative is designed to support the development of a 120 MW renewable energy portfolio, helping to bridge the energy gap in underserved regions.
Henrik Henriksen, investment director at IFU, emphasised the importance of increasing access to clean energy to enhance resilience against climate change, providing improved living conditions for households and businesses while reducing greenhouse gas emissions. “We are proud to contribute to enabling PowerGen to expand sustainable off-grid solutions in sub-Saharan Africa, aligning with our focus on Africa’s transition to climate resilience,” Henriksen said.
Claire Jarratt, head of Investment Management for InfraCo, also expressed confidence in PowerGen’s capabilities, citing their successful work in Sierra Leone and their ability to deliver high-quality distributed energy infrastructure even in challenging environments. She highlighted the potential for this investment to be transformational across sub-Saharan Africa.
Initially focused on Nigeria, Sierra Leone, and the Democratic Republic of the Congo (DRC), the platform will eventually extend across a broader region. It aims to connect the 570 million people in sub-Saharan Africa who currently lack access to electricity. This initiative will drive significant economic growth and create jobs in the target areas.
Daniel Schroth, Director of the Renewable Energy and Energy Efficiency Department at AfDB, emphasised that the partnership aligns with the bank’s commitment to catalysing private investments in sustainable infrastructure and energy access. The project is expected to bring electricity to underserved communities and promote economic activity in Nigeria, Sierra Leone, and the DRC.
PowerGen has a strong track record in Nigeria, having developed the country’s first mini-grid under the Nigeria Electrification Programme in Rokota, Niger State, and the first interconnected mini-grid in Toto, Nasarawa State. The company operates 16 renewable mini-grids, providing power to over 12,000 households.
Additionally, PowerGen has developed solar hybrid systems for commercial and industrial use, including partnerships with CSS Integrated Farms and Eye Foundation Hospitals, and is involved in over 50 MW of C&I projects with major Nigerian manufacturing companies.