News

October 11, 2024

Firms partner to accelerate sustainable energy solutions in Africa

ENERGY

ENERGY

An energy infrastructure developer, Genesis Energy and Power Limited, GENESIS, and BPA Komani Ltd, KOMANI, have partnered to mobilise capital and facilitate infrastructure projects on renewable energy, particularly large-scale Battery Energy Storage Systems, BESS, across Africa.

The partnership, which was formally signed at the Africa Energy Summit in London, would see both companies leverage their expertise in clean energy project development, investment strategy, and capital mobilisation to support Africa’s transition to a sustainable and resilient energy future.

KOMANI would also explore its Africa Clean Energy Fund to attract investment, while GENESIS would bring its experience in developing independent power plants and renewable energy solutions.

Speaking after the agreement, Chairman of Genesis Energy, Akinwole II Omoboriowo, said: “Partnering with KOMANI represents another significant milestone in our commitment to advancing clean energy across Africa. As a leading energy infrastructure investor, this collaboration is intended to strengthen our existing cutting-edge solutions, particularly Battery Energy Storage Systems, which are essential for scaling and making renewable energy more sustainable. Together, we will make a tangible impact on Africa’s energy sector, fostering economic growth and sustainability.”

Executive Chairman of BPA Komani, Paul Andrew, on his part, said: “This partnership with GENESIS is a crucial step toward realizing our goal of deploying $200 million in assets through the Africa Clean Energy Fund. Together, we will lead the way in scaling Battery Energy Storage Systems across the continent, providing a much-needed backbone for Africa’s renewable energy infrastructure.”


This strategic partnership follows GENESIS’s recent $10 billion Memorandum of Understanding with USAID to deploy energy infrastructure projects across Africa.