Denham Capital and Three of its Portfolio Companies to Commit under the Power Africa initiative
Denham Capital Management and three of its portfolio companies – Endeavor Energy Holdings, BioTherm Energy, and Fotowatio Renewable Ventures (FRV)
Denham Capital Management and three of its portfolio companies – Endeavor Energy Holdings, BioTherm Energy, and Fotowatio Renewable Ventures (FRV) – will jointly each commit under the Power Africa initiative. Denham Capital is a leading energy-focused global private equity firm advising funds with approximately $7.3 billion of invested and committed capital. Endeavor, BioTherm and FRV are all privately-owned companies focused on investing in power generation facilities in Africa that expect to operate in, among others, the following African countries: Ghana, Tanzania, Ethiopia, Kenya and Nigeria. Over the next several years, as part of their commitment to the Power Africa Initiative, Endeavor, BioTherm and FRV intend to:
- To Advance the Power Africa goal of providing access to clean, reliable energy in West Africa, Endeavor, BioTherm and FRV seek to invest in 1,000MW of power generation in West Africa – including wind power generation, solar power generation and thermal power generation, representing total investment of over $1.0 billion, with a special focus on Ghana. Endeavor seeks to provide as much as 800MW of thermal power generation in Ghana representing a total investment of over $0.8 billion.
- Endeavor, BioTherm and FRV seek to invest an additional 1,000MW of power generation in Tanzania, Ethiopia, Kenya, Liberia and Nigeria – including wind power generation, solar power generation and thermal power generation, representing an additional total investment of over $1.0 billion.
- These planned activities are expected to increase the quantity of power available to Ghana, Tanzania, Ethiopia, Kenya, Liberia and Nigeria by 2,000MWs, which has the potential to benefit roughly 2 million households and businesses or more by providing much need power generation.
Source: http://www.usaid.gov/powerafrica/partners/private-sector