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Fortis Green Renewables Investment Management and Zeitinger Invest have provided growth equity funding to GRIPS Energy Group.
The investment supports GRIPS as it expands its commercial and industrial (C&I) solar and battery storage footprint across Sub-Saharan Africa.
The funding finances the acquisition of operational renewable energy assets in Senegal, Botswana, Zambia, and Uganda. It also provides capital to scale distributed solar and solar-plus-storage projects serving business customers.
GRIPS aims to build one of the region’s leading distributed clean energy platforms, targeting a portfolio of more than 100 MW of solar and battery storage assets by 2030. This expansion will deliver reliable electricity to businesses, lower operating costs, and avoid an estimated 100,000 tonnes of CO₂ emissions annually.
Carsten Jung, Chief Investment Officer of GRIPS Energy Group, said, “Our vision is to build one of Africa’s leading distributed renewable energy platforms for commercial and industrial customers. With the backing of our new shareholders, we are targeting the deployment of more than 100 MW of solar and battery storage assets by 2030, helping businesses lower energy costs, improve competitiveness, strengthen energy resilience and reduce their carbon footprint.”
GRIPS Energy Group is owned by Anjano Energy Invest GmbH. The company develops, finances, constructs, owns, and operates commercial and industrial solar and battery energy storage projects across Sub-Saharan Africa.
Its long-term renewable energy solutions enable businesses to reduce energy costs, improve reliability, and achieve their sustainability targets.
Benito Grimaudo, Managing Director of Fortis Green Renewables Investment Management, said, “We are delighted to partner with the GRIPS management team and Zeitinger Invest at a pivotal stage of the company’s growth. GRIPS has built a compelling platform with a strong pipeline, deep local market expertise and a clear strategy for delivering affordable and sustainable energy solutions to commercial and industrial customers across Africa. Africa’s C&I renewable energy sector represents one of the most attractive investment opportunities globally.”
Marcel Zeitinger, Managing Director of Zeitinger Invest, said, “Reliable and affordable access to electricity remains one of the most important drivers of economic growth across Sub-Saharan Africa. GRIPS has demonstrated its ability to deliver impactful renewable energy solutions that improve competitiveness for businesses while advancing the energy transition. We are excited to support the company’s growth plans and long-term vision.”
The funding will be used to buy renewable energy assets in Senegal, Botswana, Zambia, and Uganda. It focuses on growing solar and battery storage projects for businesses in Sub-Saharan Africa. The goal is to exceed 100 MW of projects by 2030 and to increase the company’s presence and expansion in the region.
