Greentech Lead Africa: Element Power Solar, a renewable
energy developer, and Ariya Capital, a private equity firm, have signed a deal
to select and operate renewable energy projects in Africa.
As part of the agreement, Element Power Solar will act as
a technical advisor to Ariya Capital in the selection of energy projects in
Africa. Element will also be assisting Ariya Capital to implement its
high-value investment strategy.
“The new partnership will leverage Element Power
Solar’s international expertise in developing, constructing and operating solar
projects and opening new markets where solar resource and prevailing power
prices present strong investment opportunities,” said Raimund Grube, COO
of Element Power Solar.
Element Power Solar’s expertise and Ariya Capital’s
access to African opportunities will be utilized. Moreover, additional
investment capital provide a sound base for a relationship that will permit
both partners to provide renewable energy throughout the continent while
benefitting from investments in that market.
“We will be working closely with Element Power Solar on new projects in
selected African countries. There is tremendous scope for clean solar power on
the continent and our partnership will contribute towards addressing the energy
security and emission reduction issues in the regions where we will
invest,” said Herta von Stiegel CEO of Ariya.