Run-of-river hydropower has the potential to significantly enhance access to dependable, renewable electricity. Nevertheless, smaller projects with a capacity of less than 10MW frequently encounter difficulties in obtaining long-term debt financing. The facility provided by BII aims to tackle this issue by alleviating the substantial initial costs and extended timelines typically linked to securing financing tailored to specific projects.
This endeavor will enable Anzana to hasten the progress of small and medium-scale hydropower initiatives in East, Central, and Southern Africa, with the first project likely to be situated in Zambia. Through this facility, Anzana plans to achieve 10MW of new distributed baseload generation capacity by 2030. This capacity is expected to yield more than 50GWh of clean electricity each year for national and regional power networks and high-demand locations.
The portfolio is projected to produce more than 500 jobs during both the construction and operational stages, while also improving electricity access and bolstering economic activity in the specified areas.
Chris Chijiutomi, the Managing Director and Head of Africa at British International Investment, stated: “Africa is confronted with a considerable energy access deficit, as approximately 600 million individuals lack electricity. We are dedicated to collaborating with partners such as Anzana to aid Mission 300 and ensure electricity access for 300 million people in Africa by the year 2030. This financing enables us to assist countries in transitioning to renewable energy, enhancing electricity infrastructure, and providing clean, dependable energy to millions of homes.”
Brian Kelly, the CEO of Anzana Electric Group, stated: “This facility represents a significant milestone for Anzana as we enhance our platform throughout Africa and build upon our strong partnership with BII. By employing a comprehensive model that encompasses generation and distribution, along with customer connections, we guarantee consistent reliability and quality throughout the entire power value chain. Our commitment to robust governance, disciplined execution, and strategic corridor development enables us to provide power to the areas that require it the most, while also aligning with national government goals for sustained long-term economic growth.”
