PowerGen, AfDB Launch 120 MW Renewable Energy Platform Across Africa

PowerGen Renewable Energy has forged a strategic partnership with international investors to launch a scalable renewable energy platform aimed at deploying 120 MW of renewable power across Africa, particularly targeting Nigeria, Sierra Leone, and the Democratic Republic of Congo. This initiative involves collaboration with the Private Infrastructure Development Group (PIDG), the Danish Investment Fund for Developing Countries (IFU), EDFI Management Company, and the African Development Bank's Sustainable Energy Fund for Africa (SEFA). With an estimated 570 million people in sub-Saharan Africa lacking electricity, the platform seeks to accelerate electrification efforts through renewable mini-grids and commercial power solutions, enhanced by advanced battery storage. The first funding round was secured in January 2025, with additional investments anticipated throughout the year to support the initiative's expansion. Dr. Daniel Schroth from the African Development Bank highlighted the platform's potential to catalyze private investment and create economic opportunities in underserved areas. The project is expected to significantly improve energy access and productivity for thousands of households and businesses in the region.