Empower issues EoIs for African renewables portfolio

By Max Thompson

In:

Renewable energy, Traditional energy

Empower New Energy has issued expressions of interest from prospective advisory firms - for legal, technical, tax and model auditors roles - on the Oslo-based fund manager's renewable energy portfolio in Africa. Responses are due 9 November this year.

Among the advisory roles up for bidding, Empower has listed three separate legal advisories each for North, West and East Africa. Otherwise there are three other advisory roles with no regional specific. Part of the cost of these contracts has been funded by the African Development Bank (AfDB).

Empower intends to build on its small-to-medium-scale renewables portfolio in Africa through its managed fund Empower Invest. These projects are in the 1MW to 10MW range and can include the following sources: battery storage; mini-hydro; solar PV (rooftop and mini-grid); and wind.

In January 2020, the impact investor signed a 25-year PPA in Rwanda for a $7.9 million, 1.9MW small hydro project on the Rucanzogera River. Its financial close target has been thrown off course by the Covid-19 pandemic.

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