The African Development Bank (AfBD) and PowerGen Renewable Energy (PowerGen) have announced a strategic partnership with leading international investors to create a scalable, distributed renewable energy platform targeting the deployment of 120 MW of renewable power, including advanced battery energy storage solutions, across Africa.
The initiative is a collaboration between PowerGen and key partners: the Private Infrastructure Development Group (PIDG), the Danish Investment Fund for Developing Countries (IFU), EDFI Management Company (through its EU-funded Electrification Financing Initiative, ElectriFi), and the African Development Bank’s Sustainable Energy Fund for Africa (SEFA).
PIDG’s anchor commitment was made through its investment arm, InfraCo, leveraging concessional capital provided by PIDG Technical Assistance.
SEFA, a multi-donor special fund managed by the African Development Bank, also contributed catalytic finance to unlock private sector investments in renewable…
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