It’s Africa’s time to grow
Over the last decade, many African countries have produced average GDP growth rates of 5-10% per annum. These growth rates are forecast to continue over the next five years.
As GDP and living standards rise, such growth needs to be fuelled by a reliable supply of easily accessible, affordable power. Based upon our analysis of World Bank Data, for every 100 MW of new power generation capacity that is installed, approximately 1.2 million direct and indirect jobs are created.
Historically, there has been significant under-investment in the African power sector. Africa’s current and future energy demands cannot be met through the traditional sources of financing alone. The continent is blessed with abundant natural resources which can be harnessed to generate sustainable and in many cases renewable forms of energy.
The sector requires approximately US$20 billion of financing per annum in order to meet its growth forecasts and we believe that capital markets need to play their part.
In 2010, African Power Corporation was established with the specific goal of investing in the African power sector.
We are seeking to acquire or invest into existing operating assets in power generation, transmission or distribution to enable Governments and developers to recycle their capital into new projects. We will also co-invest in development projects in partnership with developers. We invest across Africa in a range of technologies and manage our risk exposures carefully. Over time, we aim to build a diversified portfolio of operating assets and development projects across several countries.
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