Energy Investors merge to Create pan-Africa Power Group

Two major investors in African power projects on Wednesday announced a joint venture that they say will help boost electricity output across the continent, The New Times reports.

Harith General Partners and the Africa Finance Corporation (AFC) say the tie-up would allow improved financing and development of both renewable and non-renewable energy projects.

The president and chief executive of the Lagos-based AFC, Andrew Alli, said the partnership would make “an invaluable contribution to improving generation capacity” throughout Africa.

The AFC has interests in Cenpower, which owns the Kpone Independent Power Plant in Tema, near Accra, which is due to come on stream in 2017 and provide some 10 percent of Ghana’s energy capacity.

It also has a stake in Cabeolica, a wind farm in Cape Verde, off the West African coast, which provides 20 percent of the country’s needs.

Harith, through the Pan African Infrastructure Development Fund it manages, has invested in the Azura Edo power plant in southern Nigeria, and Kenay’s Lake Turkana wind power and Rabai thermal projects.

The Johannesburg-based financiers have also helped to finance the coal-fired Kelvin Power Station in South Africa.

All the projects combined provide energy to more than 30 million people in at least 10 countries, with a gross operational and under-construction capacity of 1,575 megawatts, the companies said.

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