In a recent Grid Code podcast interview with the Electricity Hub, Richard Charlton, Head of Infrastructure Equity at British International Investment (BII), detailed the institution’s strategic involvement in Africa’s energy sector. Charlton outlined BII’s commitment to addressing the diverse energy needs across the continent, spanning generation, transmission, and distribution areas of the power sector.
The podcast was produced as a collaboration between the Electricity Hub and EnergyNet in preparation for the Africa Energy Forum (AEF), which will be held from June 25 to 28 in Barcelona, Spain.
Charlton emphasized BII’s focus on fostering environments conducive to private-sector investments in the energy sectors of various African countries. He highlighted that BII’s investment portfolio is extensive, encompassing solar energy for commercial and industrial (C&I) applications, solar home systems (SHS), wind energy, hydropower, independent power plants (IPPs), and battery storage solutions.
According to Charlton, BII aims to invest where their support will be most impactful. He further stated that the institution’s role may be less significant in regions with readily available commercial capital. However, BII is committed to stepping into areas with a genuine need for investment to catalyze development.
Charlton also noted BII’s active participation in the Africa Energy Forum (AEF) to stay ahead of the latest market insights. Reflecting on the past year, he acknowledged that emerging regions like Africa present certain risks. However, many of these are more perceived than actual. Despite these challenges, Charlton reaffirmed BII’s belief in Africa’s potential and its ongoing dedication to investing in the continent’s energy sector.
By leveraging its financial resources and expertise, BII aims to play a crucial role in the sustainable development of Africa’s energy infrastructure. The institution’s strategic investments are designed to drive growth, enhance energy security, and support the transition to renewable energy sources across the continent.
BII’s targeted approach and willingness to invest in diverse energy projects underscore its long-term commitment to Africa. Charlton highlighted that Africa offers tremendous opportunities, and BII is dedicated to harnessing these to foster economic development and improve living standards across the region.
British International Investment is positioning itself as a pivotal player in Africa’s energy landscape. With a comprehensive investment strategy that balances commercial viability with developmental impact, BII aims to contribute significantly to the continent’s transformation of energy sectors through its continued involvement and strategic investments.
Listen to the Grid Code podcast with Richard Charlton here;