- Gridworks Development Partners, a British International Investment (BII) company, has announced a $50 million investment in Virunga Power.
- The company based in Quatre-Bornes in Mauritius invests in electrification via run-of-river power plants.
Gridworks Development Partners, an investment company based in London, United Kingdom enters the capital of Virunga Power. To promote the growth of its operations in Africa south of the Sahara, a subsidiary of British International Investment (BII) will invest $50 million in Virunga Power. The company mostly constructs run-of-river power projects in East Africa.
These kinds of hydropower projects reduce their environmental impact while producing clean electricity. There are numerous run-of-river plants in operation at Virunga Power. For instance, the company runs the Zengamina hydroelectric facility on the Upper Zambezi River in Zambia. The run-of-river plant provides energy to a mini-grid that is run under a distribution permit from Zambia’s Energy Regulatory Board (ERB).
The Ikelenge district in North West Province is served by the mini-grid. Smaller hydroelectric power projects are being developed by Virunga Power in Malawi, Kenya, Tanzania, and Zambia in addition to Zambia. In Burundi, Malawi, Zambia, and Kenya, among other countries on the continent, new projects will be able to be developed thanks to Gridworks’ funding, the company claims. Additionally, it will help Zengamina’s rural hydro-supported utility expand.
Gridworks invests in Virunga Power alongside other parties. These include the Renewable Energy Performance Platform (REPP), a UK government effort, and the Electrification Finance Initiative (EDFI ElectriFI), a facility sponsored by the European Union (EU).