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Serengeti Energy, which was set up in 2013 and is based in Nairobi, is an independent power producer specialized in hydro and solar power in Sub-Saharan Africa. It develops, builds, owns and operates renewable energy resources connected to the grid in a region which is currently highly dependent on fossil fuels.
The company has become a skilled developer of small and medium-sized projects by building a diversified portfolio of seven operating assets in Rwanda, South Africa and Uganda. Two additional assets currently under construction will be added in the short term in Malawi and Sierra Leone with a total capacity of 70+ MW.
Proparco’s investment (USD 25m) in Serengeti Energy should increase renewable energy production, contribute to improving access to energy and promote sustainable economic development.
The investment is being made in a part of the world which does not have access to seed capital for energy projects and is faced with substantial needs for additional sustainable energy capacity.
By investing in Serengeti Energy, Proparco is strengthening its existing renewable energy portfolio with small-scale hydro and solar power plants in Sub-Saharan Africa.
This investment will contribute to climate change mitigation (annual reduction of 207,500 tCO2e through this investment), promote access to reliable and affordable renewable energy (278,800 beneficiaries of new or improved access to renewable energy) and support 33,300 jobs.
The project will thereby contribute to SDGs 7 (“Affordable and clean energy”), 8 (“Decent work and economic growth”), 9 (“Industry, innovation and infrastructure”) and 13 (“Climate action”).
This information is given at the time of signature, without prejudice to any developments in the operation/project
