Solar Power Revolution: How a New Partnership is Lighting Up the Middle East and Africa

Capton Energy and Enerwhere join forces to deploy innovative solar power and battery storage projects across the region.

by Motoni Olodun

The demand for clean and reliable energy solutions is growing rapidly in the commercial and industrial (C&I) sector, especially in regions with limited or unstable grid access. A new strategic partnership between Capton Energy and Enerwhere aims to meet this demand by deploying innovative solar power and battery storage projects across the Middle East and Africa.

Capton Energy is a joint venture between Siemens Financial Services and Desert Technologies, established to mobilize capital towards energy transition infrastructure in emerging markets. Enerwhere is a global leader in renewable energy solutions for off-grid power markets, using its proprietary suite of solar-hybrid mini-grid systems.

The two companies have entered into a landmark agreement, catalyzing the C&I solar power market. Commencing with an initial 25MWp including the immediate deployment of 9 MW in off-grid solar projects, in addition to a battery storage facility, the joint venture is poised to execute a much larger pipeline of captive power projects supporting C&I off-takers through to 2026.

This collaboration is a game-changer for the energy transition landscape, blending Capton Energy’s investment skills and creative application of project finance techniques, with Enerwhere’s deep experience in innovative renewable and hybrid energy solutions. The partnership will provide reliable, efficient, and sustainable energy solutions to the private corporate and industrial markets, paving the way for a greener future.

Umer Ahmad, the Chief Executive and Chief Investment Officer of Capton Energy stated: “We are delighted to launch our partnership with Enerwhere, which marks a significant milestone for Capton Energy as we introduce a novel transaction structure designed to accelerate the deployment of clean energy infrastructure for off-grid environments. This initiative underscores our commitment to driving the energy transition forward by leveraging financial and commercial innovation to establish new industry paradigms. Through our partnership, we aim to offset carbon emissions, while localizing power production and fostering job creation.”

Alice Cowman, the Chief Executive Officer of Enerwhere, further stated: “This major investment from a partner like Caption is a significant validation of Enerwhere’s approach and business model. It launches us into our next stage of growth and development and, as CEO, I am thrilled to mark the start of my tenure with it. This allows us to have renewed focus on our core business of providing the most innovative solutions for our clients and partners and I look forward to re-engaging with them in 2024.”

The joint venture underscores Capton Energy and Enerwhere’s shared commitment to fostering innovation and sustainability in the energy sector. With a focus on delivering a robust pipeline of solar power and battery storage projects, this partnership is well-positioned to provide reliable, efficient, and sustainable energy solutions to the private corporate and industrial markets, paving the way for a greener future.

The C&I solar sector is expected to grow significantly in the coming years, as more businesses seek to reduce their dependence on fossil fuels, lower their energy costs, and enhance their environmental and social impact. According to a report by Wood Mackenzie, the C&I solar PV landscape in Africa is projected to reach 1.56 GW of installed capacity by 2025, up from 0.25 GW in 2019.

The Middle East and Africa region is also home to some of the world’s most abundant solar resources, making it an ideal location for harnessing the power of the sun. According to the International Renewable Energy Agency (IRENA), the region could generate more than 60% of its electricity from renewable sources by 2030, with solar PV accounting for nearly half of that share.

The partnership between Capton Energy and Enerwhere is a testament to the potential and promise of solar power in the Middle East and Africa, and a catalyst for further growth and development in the region.

Source: Zawya

You may also like

white logo new

Energy News Africa Plus is dedicated to illuminating the vast expanses of Africa’s energy industry.

Editors' Picks

Latest Stories

© 2024 Energy News Africa Plus. All Rights Reserved.