“At BII we want to use our distinctive position, and track record, to create more early-stage solutions that help expand access to energy for more Africans. We welcome the partnership of African governments, as well as other institutions like the African Development Bank, in making that ambition a reality.”
This was message delivered by our CEO, Leslie Maasdorp, during the Mission 300 Africa Energy Summit held in Dar es Salaam, Tanzania, earlier this week.
As a long-term partner to Africa, BII has a strong track record in delivering clean energy access across the continent. We have invested over $1 billion in sub-Saharan African energy since 2017. We currently invest in 50 projects across the full spectrum of renewable power generation, transmission, storage and distributed renewable energy (DRE) solutions such as mini grids. These investments provide clean energy to over 26 million people across the continent. This includes Africa’s largest solar and battery energy storage project, providing clean power to the grid, and a project with long-term ambitions to connect nine million people to the grid in Burundi.
Our distinctive position enables us to create solutions that help expand access. With the backing of the UK Government to take elevated risks, we can supply the patient and risk-bearing capital which is vital for the uncertain and lengthy process of energy project development in Africa. This is critical for meeting the goals of Mission 300.
This is demonstrated through our work with Globeleq, which we support to do more project development in markets that are beyond the appetites of commercial developers. We’ve even developed a new platform, Gridworks, to meet the urgent need for investment and expertise in electricity transmission and distribution, which is a vital part of enabling energy access in Africa.
We’re also providing capital to test new business models that can potentially play a crucial role in increasing basic energy access to hard-to-reach rural and peri-urban communities in frontier African markets. During the summit, we announced a new investment in MOPO, a UK technology company that delivers sustainable energy solutions through battery rentals to individuals and businesses. Our $7 million investment in MOPO is expected to reach over a million people in DRC where energy access is limited.
We have ambitions to do more. We want to work with the governments of Africa and the partners of Mission 300 to bring new solutions to the energy challenge. We can bring innovation and new business models, supported by modernised regulations. Finally, we believe private investment can alleviate bottlenecks to extending access to energy, particularly in transmission and distribution.
BII’s delegation at the summit included Leslie Maasdorp (BII CEO), Chris Chijiutomi (BII MD and Head of Africa) and Geoffrey Manley (BII Director and Head of Energy Access and Efficiency).
Leslie Maasdorp and the President of Zambia, H.E. Hakainde Hichilema.
Chris Chijiutomi with the Sierra Leone delegation including the President, H.E. Julius Maada Bio.
Leslie Maasdorp and Prof. Kitila Mkumbo, Tanzania Minister of Planning and Investment.