Environment & Energy | Wednesday 8 July, 2015 8:19 am |

Greenstone Equity Partners, one of the largest independent fund placement firms in the Middle East, announced its collaboration with TIMU Energy Holdings, a Mauritius-based investment company, to raise capital from GCC investors for the development of clean energy projects in Africa.

 

The new partnership aims to attract GCC investors to invest in clean energy projects in Africa that require more than USD 28 billion in new investments each year simply to meet the growing demand for power across the continent. TIMU seeks to raise USD 20-25 million for investing exclusively in clean energy; which includes solar, hydro, wind, geothermal, LNG power, biomass projects and others.  Most investments are likely to be primarily located in high-growth countries with the largest and fastest growing economies.

 

“With a population of over 1 billion, Africa represents a huge opportunity for investors who are eager to invest their capital on a long-term high-yield investment basis,” said Omar Al-Gharabally, President of Greenstone Equity Partners. “With its promising economic outlook, aggressive infrastructure development, population growth and stable political situation, Africa is one of the best places in the world to invest. We recognise these promising market trends and we encourage our investors to direct their investments into one of the fastest growing markets globally,” he added.

 

“Africa is presently growing at faster economic rates than many of the well-established developed countries, offering potential for significant growth. Thus, investing in Africa provides the emerging market exposure that investors are seeking, while TIMU’s adherence to project finance structures and milestones provides the comfort of a lower underlying credit risk,” said Sollie Nortje, Chief Executive Officer at TIMU Energy Holdings. “With a portfolio of up to three energy projects per year, we aim to offer our investors attractive return rates over the period of their investment.”

 

TIMU Energy Holdings (TIMU) is a joint venture between Harith Partners, one of Africa’s largest and most successful infrastructure investors with more than USD 4 billion in assets under management, and the Jones Pohl Group (“JPG”), a Dubai-based firm that specializes in investing in the energy sector in Africa, Europe and the Middle East, and co-owner of renewable energy companies in the UAE and Germany. Currently, TIMU has 7 projects in the pipeline in 5 African countries.

 

Headquartered in South Africa, Harith Partners (Harith) is a leading Pan-African fund manager for infrastructure development across the continent. Harith manages the USD 587mn Emerging Africa Infrastructure Fund (“EAIF”), which addresses the lack of available long-term foreign currency debt finance for infrastructure projects in Sub-Saharan Africa.  In the power sector alone, EAIF has financed over 49 projects in countries such as Uganda, Kenya, Rwanda and Nigeria. Harith also manages the Pan-African Infrastructure Development Funds I and II that have nearly $2bn in total capital to be invested exclusively in African infrastructure projects.