PowerGen Renewable Energy has partnered with key investors to launch a renewable energy platform to expand clean energy in Africa.
The platform targets deploying 120 megawatts of renewable power, including battery energy storage, across sub-Saharan Africa. Initial projects will focus on Nigeria, Sierra Leone, and the Democratic Republic of the Congo (DRC).
This collaboration includes the African Development Bank’s Sustainable Energy Fund for Africa (SEFA), PIDG, IFU, and EDFI Management Company. Investors finalized the first phase of funding in January 2025, and they expect to secure additional investments later this year.
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A Transformative Approach to Energy Access
The initiative will fund mini-grids, metro-grids, and industrial power solutions. It will leverage PowerGen’s 13 years of experience in Africa.
Dr. Daniel Schroth of the African Development Bank said: “This project will bring electricity to underserved areas and create numerous employment opportunities.”
The platform aims to help connect over 570 million Africans who lack electricity. It will drive economic activity and sustainable energy use.
Claire Jarratt of PIDG added: “We are confident in PowerGen’s ability to develop high-quality energy infrastructure in challenging conditions.”
Henrik Henriksen from IFU highlighted the environmental impact: “This project helps underserved households without increasing greenhouse gas emissions.”
Scaling Clean Energy Across Sub-Saharan Africa
The funding will support more than 68,000 households and 7,000 businesses. Affordable power will increase productivity and drive growth.
Rodrigo Madrazo Garcia de Lomana of EDFI said: “This showcases the ripple effect of our early commitment.”
Aaron Cheng, PowerGen CEO, remarked: “We are thrilled to drive our vision of clean, reliable, and affordable energy across Africa.”
With this platform, Africa moves closer to achieving sustainable energy goals and boosting socio-economic development.