This crucial capital, sourced from leading international impact investors including InfraCo, IFU, EDFI, AfDB’s SEFA, and PIDG is expected to accelerate PowerGen’s mission /SCREENGRAB
A pan-African renewable firm with offices in Nairobi has selected Delphos as it's adviser for upcoming renewable projects in the continent. In a statement, the firm said a decision was reached early this month to catalyse additional equity and debt capital throughout the year.
Specifically, the funds will support the establishment of a scalable, distributed renewable energy platform, targeting the deployment of 120 MW of renewable power solutions, including battery energy storage.
For more than 13 years, PowerGen has been at the forefront of delivering clean energy solutions to African residential, community, and industrial clients.
The firm's core business lines include large-scale mini-grids, as well as C&I solutions that offer significant energy savings to clients. PowerGen addresses the unique challenges of African energy markets, where decentralised, localized solutions often surpass the reliability and reach of national utilities.
"This new capital injection supports PowerGen's mission to bring clean, affordable energy to underserved areas, aligning with the United Nations Sustainable Development Goals, by helping to achieve universal access while supporting the transition to a low-carbon economy," the statement reads.
Delphos will continue to support PowerGen on an exclusive basis in securing additional equity and innovative debt finance later this year.
Aaron Cheng, CEO of PowerGen said that they are excited to partner with leading impact investors on this transformational transaction to scale renewable energy across Africa.
"We are grateful to the investors for their collaboration and appreciate Delphos’ support in arranging the transaction.”
Bart Turtelboom, chairman and CEO of Delphos applauded PowerGen for playing a pivotal role in supporting emerging markets to achieve the UN SDG Goal 7 – Affordable and Clean Energy.
"It is Delphos’ mission to contribute to universal access to clean energy by 2030, accelerating electrification, enhancing energy efficiency, and increasing investments in renewable energy,"Turtelboom said.
"We appreciate their trust and look forward to continuing our work with PowerGen across our team globally.”