InfraCo Africa backs ‘energy-as-a-service’ provider
InfraCo Africa, part of the Private Infrastructure Development Group (PIDG), announced its investment of $1.5 million to enable Afresco’s ’energy-as-a-service’ solution to bring clean, reliable power to commercial and industrial (C&I) clients in Uganda, Malawi and the Democratic Republic of the Congo (DRC).
Gilles Vaes, CEO of InfraCo Africa said, “Afresco has developed a tailored ‘energy-as-a-service’ offering designed to ensure that its customers have reliable access to power whilst reducing reliance on polluting diesel generation. Afresco offers an affordable power solution which can be installed on customers’ land, incorporated into shaded car parking or retrofitted as a rooftop solar installation, giving clients security of power supply upon which to base their own plans for growth.”
He continued, “With our extensive experience in the sub-Saharan off-grid market, InfraCo Africa is pleased to be supporting Afresco – our first C&I investment – as it seeks to scale its offering in the region.”
The initial phase of the project will see the development of solar PV plus battery C&I energy solutions with initial emphasis on Uganda, the DRC and Malawi and is expected to serve customers involved with hospitality, agri-processing and cold storage. It is anticipated that this initial phase will enable Afresco to attract further private investment, supporting the scale-up of the business in other underserved sub-Saharan markets.