Denham Capital, a global energy-focused private equity firm, has entered into partnership with African renewable energy investment company GreenWish Partner to develop, build and finance a portfolio of 600MW in sub-Saharan Africa region by 2020.
According to the company, the capital commitment will allow the African renewables platform to carry out a $1bn project pipeline.
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GreenWish CEO Charlotte Aubin-Kalaidjian said: "We look forward to partnering with Denham for this expansion phase of GreenWish in sub-Saharan Africa.
"Independent power producers such as GreenWish are a key solution to the African electricity gap that requires more than $40bn in annual investments.
"Our strategic partnership with Denham gives us the means and scale to carry out our ambition and mission for a competitive and sustainable electrification of Africa."
GreenWish Partner was established in 2010 by Aubin-Kalaidjian and Gilles Parmentier, who have jointly built over 20GW of renewable project and funded over $10bn.
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By GlobalDataPrior to establishing GreenWish, Aubin-Kalaidjian worked for almost two decades in Morgan Stanley’s renewable energy investment and in investment banking sectors.
Gilles Parmentier, spent a decade in the energy infrastructure sector, including companies like World Bank and Macquarie.
GreenWish chief investment officer Gilles Parmentier said: "We focus on countries where renewable energy projects offer a competitive solution to the power gap, without subsidies.
"GreenWish is looking at both on and off-grid projects in a number of countries and aims at offering B2B solar hybrid solutions to energy intensive industries, including telecom operators, mining and commercial off-takers."
About 600 million people in sub-Saharan Africa do not have access to electricity, and total African power generation capacity is limited to 90GW despite of 300 sunny days per year.
