Planet
Afresco’s commitment to utilising renewable energy sources is key to cutting the greenhouse gas emissions of its industrial customers.
| Company | Afresco |
| Sector | Power / Energy |
| Country | Uganda, Kenya, Democratic Republic of Congo (DRC), and Malawi |
| PIDG Commitment | Equity USD 4m |
| Dates of PIDG involvement | 2023 – present |
Africa has great potential as a productive hub, with a youthful population, some supportive governmental policies, and vast natural resources. However, in many parts of sub-Saharan Africa, the productivity of businesses is constrained by unreliable access to energy. As a result, many industrial sites rely heavily on diesel generators. Such solutions are inefficient, increasingly expensive and, most significantly, contribute to high carbon emissions.
A new paradigm of distributed, renewable energy technologies has emerged in the last few years, largely driven by entrepreneurial firms benefitting from Africa’s high levels of solar irradiation. These new companies currently comprise one of Africa’s fastest-growing sectors and, if they work in partnership with national utilities, their development impact has the potential to be rapid and effective. However, until now, these new technological approaches have been concentrated in a relatively limited number of countries.
With support from InfraCo, Afresco will promote its ‘Energy-as-a-Service’ solutions and leverage its deep operational experience throughout Africa as well as its long experience in the C&I space. The initial phase of the project will see the development of up to 5MW of solar PV plus battery C&I energy solutions with initial emphasis on Uganda and Kenya, but also other underserved sub-Saharan African countries, and is expected to serve customers across a range of sectors.
Afresco’s commitment to utilising renewable energy sources is key to cutting the greenhouse gas emissions of its industrial customers.
The project is expected to enable connected businesses to hire more employees. Employment in manufacturing has been shown to deliver positive social impact and significant improvements to people’s livelihoods.
Power Purchase or Lease Agreements signed with each business for between five and fifteen years will help ensure stability of supply and better planning of energy expenses whilst relieving pressure on national grids. It is anticipated that Afresco’s offering will equip businesses with the confidence they need to scale up their facilities.
With the partnership with InfraCo, it is anticipated that Afresco will be well-positioned to substantially scale its business, attracting more clients and investors, with a view to increasing its pipeline and operational assets.
