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Enko Capital has made a new investment in Angola’s renewable energy sector through its Impact Credit Strategy, supporting a large-scale solar project being developed by Metalosul, a subsidiary of the Omatapalo Group.
The funding comes from the private credit fund’s first close of $100 million and will be used to procure photovoltaic panels for a solar installation in Luanda.
The broader project is expected to deliver around 724 megawatts (MW) of capacity, positioning it among the most significant solar developments currently underway in the country.
Omatapalo, an Angolan engineering and construction group, secured the contract to develop the project, with Metalosul leading key implementation components.
The investment is part of a wider push to expand renewable energy infrastructure in Angola, where demand for electricity remains high, and access gaps persist, particularly outside major urban centers.
Pedro Martins, Chief Financial Officer of Omatapalo Group, described the deal as a milestone for the company’s clean energy ambitions.
“This partnership with Enko Capital, through the Enko Impact Credit Strategy, marks a significant moment for us as we move faster to deliver sustainable energy infrastructure in Angola,” he said.
“It goes beyond financing. It reflects a shared commitment to support the energy transition, improve access to reliable power and generate long-term value for communities. We are proud to work with Enko to deliver impactful projects through Metalosul.”
The solar project is also expected to bring broader development benefits. In addition to increasing electricity generation, it is designed to support initiatives such as solar-powered water systems, while contributing to job creation and improvements in social services like healthcare and education.
For Enko Capital, the transaction aligns with its strategy of providing flexible, long-term financing to mid-sized African businesses operating in sectors with strong growth potential.
The firm has positioned its Impact Credit Strategy as a vehicle to channel capital into projects that combine commercial returns with measurable environmental and social outcomes.
Saad Sheikh, Partner at Enko Capital, said the Metalosul investment reflects that approach.
“Our strategy is built on providing reliable and adaptable financing through strong partnerships with mid-market companies,” he noted.
“This investment in Metalosul and the Angolan solar project shows our commitment to turning climate goals into real infrastructure that delivers clean power and strengthens local capacity. We see ourselves as a long-term partner supporting the scale-up of renewable energy where it is most needed.”
The deal comes at a time when Angola is accelerating efforts to diversify its energy mix away from hydrocarbons and expand renewable capacity.
The government has set ambitious targets to increase installed power generation in the coming years, with solar expected to play a central role in meeting rising demand and improving energy access nationwide.
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