Investor raises cash to scale up hydropower projects
BY PAUL TENTENA Anzana Electric Group (“Anzana”) has raised a $20 million senior secured portfolio debt facility from British International Investment (BII), the UK’s development finance institution and impact investor, to accelerate the construction of run-of-river hydropower projects across Africa. Run-of-river hydropower projects in Africa can play an important role in expanding access to electricity. But smaller projects under 10MW often struggle to secure long-term debt financing. This facility is designed to reduce the high upfront costs and long timelines that usually come with arranging project-specific financing. The BII facility will provide construction financing to Anzana’s well-developed hydropower portfolio, focused on small- and medium-scale plants with potential solar hybridization, in East, Central and Southern Africa. Through this facility, Anzana expects to unlock 10MW of newly installed distributed baseload generation capacity by 2030, gen...