Inspired Evolution invests in solar developer Alten Africa

Inspired Evolution has struck a deal to pour up to USD 36 million (EUR 29.4m) into solar developer Alten RE Developments Africa BV (Alten Africa) and its 225-MWp portfolio of solar projects in sub-Saharan Africa.

In addition to the construction-ready and advanced projects it works on, Alten Africa also has a 400-MWp pipeline of project opportunities underway in select countries in the sub-Saharan Africa region. The company is a subsidiary of Spain-based independent power producer Alten Energias Renovables, which operates in Europe, Africa and Latin America.

The USD-36-million investment will be made through Inspired Evolution’s Evolution II Fund, according to a press release published on Friday. Initially, the partnership will aim to put on stream up to 500 MW of shovel-ready, advanced and pre-permitted solar projects. Among those will be the 45.5-MWp Hardap solar project in Namibia, expected to achieve financial closure this month, the 51.5-MWp Kesses 1 scheme in Kenya and the 125-MWp Middle Band Solar One project in Nigeria.

Speaking about the newly-formed collaboration, Christopher Clarke, managing partner at Inspired Evolution said: “Together we offer the aggregation of regional and international market knowledge, multi-disciplinary skills and credentials with over 1 GW of collective clean energy track record."

Inspired Evolution has invested in 913 MW of clean energy infrastructure projects, it said. The company focuses on the clean energy infrastructure development and project finance investments and energy and resource efficiency growth investments.

(USD 1.0 = EUR 0.816)

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