10 African companies driving the renewable energy revolution
Accelerating renewable energy in Sub-Saharan Africa
Hello everyone,
developing renewable energy capacity is crucial for the continent’s development - and current capacity and investment levels lack far behind the potential.
Today, we want to shine a light on a few selected companies dedicated to driving forward the renewable energy revolution in Africa.
Firms like SPS and ARTsolar indicate a growing local manufacturing capacity for solar PV modules, which can reduce costs and dependency on imports.
Companies like Powerhive and GridX Africa provide scalable and customizable renewable energy solutions, enhancing adaptability to various local needs.
Organizations such as Oolu Solar and EnerGrow offer innovative financing options, making renewable energy solutions more affordable and accessible.
Firms like Infinity Power and Serengeti Energy have significant capacity expansion goals, highlighting ambitions to scale up renewable energy production substantially by 2030.
Read on to learn more.
Introduction: Africa’s energy challenge and opportunity
Situation
Africa faces significant energy challenges despite abundant resources, attracting only 2% of global renewable energy investments and employing less than 3% of the global workforce.
China dominates renewable energy supply chains and installed capacity. Africa remains a minor player in material processing, manufacturing, assembly, and installed capacity.
Opportunity
Africa holds 60% of the world’s best solar resources - leading the world in solar power potential.
Central and Southern Africa have significant mineral reserves crucial for renewable energy products, and assembly of solar PV modules is becoming cost-competitive in some regions.
Green hydrogen, driven by Africa's solar potential, presents a EUR 1-trillion opportunity.
Transitioning to clean energy can boost GDP, create jobs, and improve well-being.
However, achieving these goals requires doubling current investments to USD 180 billion annually by 2030, focusing on clean energy and leveraging private investments.
To learn more, check out our former articles on Renewable Riches - Introduction to Energy & Infrastructure in Africa and Africa's potential as a global renewable energy player.
10 players driving forward the renewable energy development in Africa
1. Strategic Power Solutions (Ghana)
SPS is a Ghanaian solar equipment manufacturer and the only Solar PV Module producer in West Africa. They specialize in utility-scale, commercial, and industrial photovoltaic plants. The company emphasizes quality and regulatory compliance, employing 105 staff dedicated to delivering sustainable energy solutions. Their services include engineering, procurement, and construction (EPC) for on-grid and off-grid solar projects.
2. ARTsolar (South Africa)
ARTsolar, established in 2010 in Durban, South Africa, is a leading local manufacturer of PV solar panels. They specialize in high-volume production for utility-scale PV farms and offer products with a 30-year linear power output guarantee. ARTsolar is dedicated to quality, job creation, and education, focusing on providing top-notch solar solutions while contributing to local economic development.
3. Oolu Solar
Oolu Solar is a leading provider of pay-as-you-go solar energy solutions in West Africa, offering off-grid households in rural areas access to modern energy through affordable solar systems. Based in Senegal, Oolu operates in several countries, including Burkina Faso and Mali, and focuses on improving the quality of life by providing reliable and sustainable energy.
4. SolarNow
SolarNow is a social business providing high-quality solar energy solutions in East Africa. They offer solar home systems and appliances like water pumps designed to meet the energy needs of households, businesses, and institutions. With a focus on affordability and reliability, SolarNow also provides financing options to make solar energy accessible to more people.
5. EnerGrow
EnerGrow is a tech startup in Uganda focused on increasing rural electricity demand through productive asset financing, training, and digital ID-based technology. They provide low-interest loans for electrical appliances, financial literacy, and business support to small businesses and households. EnerGrow partners with utilities and mini-grid operators to boost local productivity, making newly electrified communities economically viable for energy providers.
6. Powerhive
Headquartered in Kenya, Powerhive develops scalable off-grid utility solutions to provide clean energy and internet access to remote communities. Their modular mini-grid systems utilize proprietary technology to bypass outdated power infrastructure. Powerhive offers tools and services for profitable off-grid utility projects, working as a lead developer or in partnership with energy providers and governments. Their technology platform provides insights into system performance and scalability, aiming to create efficient and resilient energy infrastructures in emerging markets.
7. Infinity Power
Infinity Power, a joint venture between Egypt's Infinity and Masdar (Abu Dhabi Future Energy Company), is Africa's largest pure-play renewable energy provider. Specializing in utility-scale solar and on-shore wind technologies, Infinity Power operates substantial renewable energy assets across Egypt, South Africa, and Senegal. The company aims to deliver 10 GW of renewable energy by 2030, currently operating 1.3 GW and reducing 3.5 million tons of CO2 emissions annually.
8. Hydroneo
Hydroneo is an Independent Power Producer (IPP) specializing in developing, financing, building, and operating run-of-river hydropower plants up to 30 MW in sub-Saharan Africa. With projects in countries like Rwanda, Kenya, Tanzania, and Burundi, Hydroneo focuses on generating eco-friendly, 100% decarbonized electricity while benefiting local communities. Their expertise includes comprehensive project management, from site identification to operation, ensuring minimal environmental impact and promoting sustainable development.
9. Serengeti Energy
Serengeti Energy develops and operates renewable energy projects up to 50MW in Sub-Saharan Africa, with a focus on hydro, solar, and wind technologies. They aim to reach 300MW of capacity by 2030. Currently, they have 9 operational plants across South Africa, Uganda, Rwanda, Sierra Leone, and Malawi, totaling 73.9MW. Notable projects include the first commercial grid-connected solar plant in Sierra Leone and a 21MWp solar plant in Malawi.
10. GridX Africa
GridX Africa develops and finances bespoke solar and renewable energy solutions for commercial and industrial clients across Africa. They offer fully financed projects, including battery storage and substation assets, with no upfront costs for clients. GridX specializes in creating private utilities with renewable power generation and infrastructure, supporting energy transitions and reducing carbon emissions.
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Carolin
Disclaimer: All information provided is not intended to serve as investment advice. Any mention of industries or countries should not be taken as an endorsement.