Sweden’s development finance institution Swedfund and the Danish Investment Fund for Developing Countries are each investing $22m in equity to support Southern Africa renewable energy developer and operator, Sturdee Energy.
Independent power producer Sturdee Energy currently operates 31MW of solar power in Namibia and Botswana and is constructing 20MW of solar power in South Africa.
Senior Investment Manager at Swedfund, Jonas Kolijn said the equity investment is a good strategic fit for Swedfund as it contributes to climate mitigation through replacing coal power with renewable power such as solar and wind.
On his part, IFU’s Senior Vice President, Thomas Hougaard described the investment in Sturdee Energy as a perfect match and support for green energy transition in developing countries, especially in Africa.
