New Investments
Swedfund and IFU Invest $44 Million with Sturdee Energy to Advance Renewable Energy in Southern Africa
Swedfund, the Swedish development finance institution, and the Danish Investment Fund for Developing Countries (IFU) have joined forces with Sturdee Energy to drive renewable energy expansion in Southern Africa.
Southern Africa faces a critical power supply deficit, compounded by limited access to risk-tolerant capital for renewable energy projects.
Sturdee Energy, an independent power producer (IPP), develops, owns, operates, and invests in renewable energy projects and infrastructure across the region.
Sturdee Energy currently operates 31 megawatts (MW) of solar power installations in Namibia and Botswana and is constructing an additional 20MW of solar capacity in South Africa.
To ensure sustainable development, Swedfund and IFU have introduced an Environmental and Social Action Plan (ESAP) for the partnership.
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“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
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