Nairobi-based Serengeti Energy introduces a new programme to provide support to developers of hydro, solar and wind projects with a capacity between 5-50MW as part of an initiative to accelerate the development of more bankable small-medium scale power plants in sub-Saharan Africa.
Announcing the initiative, Serengeti Energy CEO Dr Chris Bale said;
“we see this new Project Incubator Programme as an excellent way for us to connect with, support and partner with developers. In working with Serengeti Energy developers will benefit from low-cost development capital, specialist expertise from an experienced company and financing to construct the power plants. The development capital will mostly be provided from Serengeti Energy’s dedicated $5m Technical Assistance (TA) fund. This fund is supported by KfW, Nordic Development Fund, SECO and KOICA. It provides interest-free loans to projects that are being developed in collaboration with Serengeti Energy.” – DR CHRIS BALE, CEO SERENGETI ENERGY
Serengeti Energy was created in 2021 following the merger of responsAbility Renewable Energy Holding (rAREH) and REH Group. The company has an interest in a small hydro plant in Rwanda and operates three hydro plants in South Africa, two hydro plants in Uganda and has a further hydro plant in the advanced stages of construction in Uganda. It is also constructing two new solar PV plants in Malawi and Sierra Leone.
Serengeti Energy has an ambitious growth agenda to develop, build and operate more renewable power plants in markets across sub-Saharan Africa. Its long-term capital is provided by KfW, Nordic Development Fund (NDF) and Norfund.
The Project Incubator Programme will be open to receive proposals from interested developers in Q1 2022. Further details can be found at www.serengetienergy.com/incubator
Website: www.serengetienergy.com
For further information and interview requests, contact Austin Ouma (E: austin.ouma@serengetienergy.com, M: +254 712 741 063)