Energy
Power, renewables, energy efficiency, mini grids, electric vehicles, battery storage, and energy access across Africa
Africa's energy build-out is one of the largest investment opportunities in emerging markets, and also one of the hardest to bank. Generation, transmission, distribution, and access sit across sovereign offtakers, regulated utilities, independent power producers, and distributed operators, each with a different risk profile and a different financing structure. We help development finance institutions, investors, and project sponsors move power assets from concept to close: shaping the commercial case and getting transactions to a standard that investment committees will approve. Our advantage is having sat on both sides of the table. We have worked inside the institutions that approve, structure, and finance Africa's largest investments, and we pair that with investment-banking execution and commercial strategy.
We work across the full chain, from grid-scale renewables and conventional power to mini-grids, off-grid solar, and the blended structures that make access economics work in lower-income and fragile markets. Whether the task is preparing an IPP for financing, building a sector investment pipeline, or structuring a facility that crowds in private and concessional capital, we bring the market lens and the rigour of investment professionals.
How we work
We start where the capital decision is made. For a DFI or fund, that means strengthening pipeline and board-readiness so energy deal structures meet stakeholder expectations. For a sponsor, it means building the commercial and financial case, identifying the right mix of capital sources, and risk mitigation, and packaging the project for the lenders most likely to fund it. We embed alongside our clients rather than delivering from the outside, structure elements that match each asset's risk to the right pool of capital, and stay through to implementation. Across distributed generation, solar PV, mini grids, and battery storage, we support on feasibility studies, market assessment, tariff design, project finance strategy, and portfolio performance.
- Early-stage advisory
- Investment pipeline development
- Mini-grid, off-grid solar, and C&I strategy
- Commercial and financial due diligence
From generation to the last mile
Energy investment only pays when the whole chain works: generation, the grid, and the connection that reaches a customer who can pay. We work the structures that get electrons financed, delivered, and monetised.
What is shaping Energy
Mission 300 turns political commitment into a bankable connection pipeline
The World Bank Group and African Development Bank have committed nearly $15 billion and attracted about $4.5 billion in co-financing under Mission 300, which aims to connect 300 million Africans by 2030; 48 countries endorsed the Dar es Salaam Energy Declaration and dozens have submitted National Energy Compacts with time-bound access targets and private-capital mobilization plans.
National Energy Compacts create a visible, government-backed pipeline of generation, distribution, and access transactions. Sponsors and investors who align early to compact priorities and bring credible structures will find sovereigns and DFIs primed to co-finance, but only deals that reach board-readiness will convert.
Renewables investment is rising fast but still a fraction of Africa's potential
Renewable energy investment in Africa reached about $40 billion in 2024, up from $2.6 billion in 2021, and solar PV capacity climbed from roughly 0.5 GW in 2015 to around 20 GW by 2025. Yet Africa holds about 60% of the world's best solar resources while attracting only about 2% of global clean-energy investment.
The gap between resource and capital is the opportunity. Investors who can originate and structure bankable renewable assets, and sponsors who can present them to the right lenders, are positioned to capture a market that is scaling quickly off a low base but remains underserved relative to its fundamentals.
Distributed and off-grid solar becomes the least-cost path for the last mile
Off-grid solar and distributed renewable energy are expected to deliver up to 45% of new connections under Mission 300, and distributed solar is projected to account for around 42% of solar PV expansion over the next five years. ESMAP and GOGLA estimate that realizing off-grid solar's access potential requires roughly $21 billion, about six times current investment levels.
Access economics in rural and fragile markets increasingly favor mini-grids and off-grid solar over grid extension, but the financing gap is structural. The capital that closes it will be blended, mixing concessional, commercial, and risk-sharing instruments, which is where structuring expertise determines whether projects get funded.
Our energy work sits within a broader infrastructure-finance track record. Our teams have contributed to more than $2 billion in financings across power, transport, logistics, and telecoms, working the full path from asset assessment to close on power deals, alongside the other infrastructure sectors that share the same capital structures and lender pools.
Let's move your next investment forward.
Tell us what you are preparing, growing, or strengthening, and we will tell you how we can help.
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