Private equity investors grow foothold in African renewables

May 21, 2025

The Emerging Africa & Asia Infrastructure Fund (EAAIF), a private equity fund, has completed a $325 million debt raise for investment in infrastructure projects including clean energy across emerging markets. This latest funding round brings EAAIF's total recent capital raised to $620 million, surpassing its initial target of $500 million by the end of 2025.

  • About 21 African governments are either at high risk of debt distress or already in debt distress, which limits their investments in energy. Estimates suggest $190 billion is needed annually until 2030 for energy transition goals.

  • Private equity (PE) players are angling for a share of this market. Several funds have been raised to support renewables investments. Evolution III fund recently raised $238 million. 

  • Our take: The private equity investors will conduct detailed due diligence before investing, as risk profiles in Africa differ widely… Read more (2 min)

The UAE government has entered into a public-private partnership to invest $14 billion in Morocco's energy and water sectors. The deal will include the construction of 3,000 MW of high-voltage direct current transmission lines and 1,200 MW of renewable energy projects. The electricity generated will be sold to Morocco’s national power utility company ONEE.

  • Morocco is investing heavily in its renewable energy and has several mega-projects in the pipeline. It plans to more than double its current share of power generation from renewables to 52% by 2030. 

  • The country is utilising its renewable abundance to meet its energy demands and serve export markets. It has signed deals with the UK and Mauritania.

  • Our take: Public-private partnerships can unlock funding opportunities to support capital-intensive projects where governments lack capacity… Read more (2 min)

Salary benchmark data for senior finance leaders in renewable energy in South Africa, Kenya, Egypt and Nigeria shows that highly qualified hires expect to be paid a minimum of $72,000 to $85,000 per year. A safe “retention rate”, where finance leaders are not easily poached by competitors, is between $119,000 and $182,000, varying from country to country.

  • By “leaders” we mean the top functional posts in a company. Our benchmark data is for mid-size companies and assembled in partnership with Shortlist, a leading recruitment agency in Africa.

  • In exceptional cases, top finance officers at renewables multinationals can expect as much as $192,000 to $293,000. South African professionals earn the most, followed by those in Kenya, while Nigeria and Egypt have lower benchmarks.

  • Our take: The gap between finance salaries and those in sales and marketing may grow even wider as international firms come into Africa’s renewables markets…Read more (2 min)

Head of Sales and Business Development at Central Electricals International Ltd, Arthur Oduor, secures a 450 kWp solar deal with a client

Events

🗓️ Attend an event on water security in Africa (May 22)

🗓️ Register for the e-Conference on Storage Solutions (Jun 3)

🗓️ Participate in the EPRA Electrical and Solar Technologies webinar (Jul 2)

Jobs

👩🏻‍💻 Become Juwi’s Human Resources Administrator (South Africa)

🛠️ Join CrossBoundary as a Project Attorney - Implementation (Kenya)

💼 Apply for Scatec’s E&S Advisor role (Tunisia)

Various 

⚡ Zimbabwe aims for 1.8 million solar systems by 2030

🔋 Qair tackles Chad's energy deficit with two hybrid solar plants

♻️ LookSee, SANEDI introduce South Africa's first energy and carbon certification 

Seen on LinkedIn 

Lolade Abiola, Programme Manager at Sustainable Energy for All (SEforALL), says, “Energy access underpins two-thirds of all 169 SDG targets, from health and agriculture to education and gender equality. Yet, progress is slipping.”