Norway's development fund to double power investments in Africa
OSLO (Reuters) - Norway's
state-owned development fund, Norfund, plans to double or even triple
its investments in Sub-Saharan Africa's power sector by 2020, its
managing director said on Wednesday.
Norfund is developing hydropower in Sub-Saharan Africa in
partnership with Norway's power group Statkraft, and has teamed up with
Britain's development fund CDC to invest in Globeleq Africa, a power
company with an ambition to add 5,000 megawatt of new capacity.
"We expect to double or even to triple the capital invested in
Africa by 2020, depending on the projects," Kjell Roland, managing
director of Norfund, told a conference in Oslo, which included energy
ministers from Ghana and Zambia.
The fund, backed by the government of the oil-rich Nordic
country, has invested more than 2 billion Norwegian crowns ($248.85
million) in Africa so far, mainly in Sub-Saharan Africa.
The fund is seeking to develop power projects in partnership
with private investors, like Kenya's 310 megawatt Lake Turkana wind
power park, which will be the biggest wind park in Africa.
http://af.reuters.com/article/topNews/idAFKBN0N00HW20150409?sp=true
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