Investment outfit Inspired Evolution has signed a $36m deal with Alten Africa to help develop, construct and operate utility-scale solar plants in sub-Saharan Africa.
Alten Africa, a subsidiary of Alten Energias Renovables, will use the money from Inspired Evolution’s Evolution 2 Fund to progress 225MW of construction-ready and advanced projects in three countries.
The 45.45MW Hardap project near Mariental in Namibia is on track to reach financial close soon; the 51.5MW Kesses 1 plant in Kenya is due for financial close in May and the 125MW Middle Band Solar One facility in Nigeria has signed a power purchase agreement and is moving towards closing.
Alten has an additional 400MW pipeline of opportunities also underway within the region.
Managing partner at Inspired Evolution Christopher Clarke said: “Together we offer the aggregation of regional and international market knowledge, multi-disciplinary skills and credentials with over 1GW of collective clean energy track record.”
Alten Energías Renovables executive Juan Laso said: “The experience of Alten, together with the local knowledge, capacity and vision of Inspired Evolution create a perfect combination to succeed and to satisfy the vast energy needs of the region with solar PV technology.”
Image: Pixabay
Investors inspired by African sun
By EBS