A.P. Moller Capital announces African renewable energy JV
Reunert and A.P. Moller Capital have announced the establishment of a new joint venture, Lumika Renewables, which will develop a portfolio of cost efficient, renewable energy solutions for commercial and industrial customers in Africa.
Lumika will design, build and finance renewable-based energy solutions for commercial and industrial customers in Africa through, among others, the installation of solar panels supplying green energy and providing software that creates transparency in terms of energy consumption. These solutions will lower the high cost of energy, reduce the reliance on fossil energy sources and in the end help African businesses to become more cost competitive and lower their impact on the environment by lowering their carbon footprint.
As equal partners in Lumika, Reunert and A.P. Moller Capital will leverage Terra Firma Solutions’ proven track record of optimising carbon assets and successfully delivering cost efficient energy solutions to commercial and industrial customers in Southern Africa to facilitate Lumika’s entry into other African markets.
A.P. Moller Capital’s long-term experience in investing in infrastructure in growth markets will furthermore support Lumika’s expansion into African countries where A.P. Moller Capital already has existing networks.
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