African Development Bank, PowerGen and Partners Announce Launch of Transformative Renewable Energy Platform to Scale Clean Energy Access Across Africa
PowerGen Renewable Energy (PowerGen) has established a scalable, distributed renewable energy platform targeting the deployment of 120 MW of renewable power and battery energy storage solutions across the continent.
This platform will serve more than 70,000 households. Initially, the platform will focus on the Democratic Republic of Congo, Nigeria, and Sierra Leone, and will expand through local developer and engineering, procurement, and construction (EPC) partnerships.
The success of this platform could accelerate efforts to connect the 570 million people without access to electricity.
PowerGen is a private sector partner of Power Africa. Through this partnership, technical assistance has been provided to PowerGen.
Thanks to this project, more than 68,000 households will be able to meet their energy needs, and over 7,000 businesses will see a reduction in their energy costs.
Access to affordable and reliable electricity will increase business productivity and make a positive contribution to employment rates and economic growth.
PowerGen CEO Aaron Cheng made the following statement about the project:
“We are thrilled to announce this transformational next chapter to drive our vision of providing clean, reliable, and affordable energy across Africa.”
“We are grateful to our terrific partners for their collaboration, and together, we look forward to contributing at scale to the energy transition and socio-economic growth across the continent.”
Dr. Daniel Schroth, Director of Renewable Energy and Energy Efficiency at the African Development Bank, also made the following comments:
“The African Development Bank’s contribution to PowerGen’s platform reflects our commitment to catalysing private investment in sustainable infrastructure and energy access in line with the objectives of Mission 300.”
“This project will bring electricity to underserved areas in Nigeria, Sierra Leone, and the DRC, and generate significant economic activity and create numerous employment opportunities. It’s an excellent example of our strategy to drive development through targeted partnerships.”