19 February 2024: Capton Energy and Enerwhere have entered into a landmark agreement, catalysing the private commercial and industrial (C&I) solar power market. Commencing with an initial 25MWp including the immediate deployment of 9 MW in off-grid solar projects, in addition to a battery storage facility, the joint venture is poised to execute a much larger pipeline of captive power projects supporting C&I offtakers across the Middle East and Africa through to 2026.
This strategic partnership represents a transformative shift for the energy transition landscape, blending Capton Energy’s investment skills and creative application of project finance techniques, with Enerwhere’s deep experience in innovative renewable and hybrid energy solutions. The collaboration is poised to meet the surging demand for reliable and sustainable energy solutions within the commercial and industrial and off-grid sectors, heralding a new era for decarbonising and digitising the private power market.
Umer Ahmad, the Chief Executive and Chief Investment Officer of Capton Energy stated: “We are delighted to launch our partnership with Enerwhere, which marks a significant milestone for Capton Energy as we introduce a novel transaction structure designed to accelerate the deployment of clean energy infrastructure for off-grid environments. This initiative underscores our commitment to driving the energy transition forward by leveraging financial and commercial innovation to establish new industry paradigms. Through our partnership, we aim to offset carbon emissions, while localising power production and fostering job creation.”
Alice Cowman, the Chief Executive Officer of Enerwhere further stated: “This major investment from a partner like Capton is a significant validation of Enerwhere’s approach and business model. It launches us into our next stage of growth and development and, as CEO, I am thrilled to mark the start of my tenure with it. This allows us to have renewed focus on our core business of providing the most innovative solutions for our clients and partners and I look forward to re-engaging with them in 2024.”
The joint venture underscores Capton Energy and Enerwhere’s shared commitment to fostering innovation and sustainability in the energy sector. With a focus on delivering a robust pipeline of solar power and battery storage projects, this partnership is well-positioned to provide reliable, efficient, and sustainable energy solutions to the private corporate and industrial markets, paving the way for a greener future.
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About Capton Energy: Capton Energy is a joint venture between Siemens Financial Services and Desert Technologies (the “Sponsors”). Capton Energy was established under a shared vision to support the energy transition by mobilising capital towards identified funding gaps in critical market segments, particularly in emerging markets. Backed by the Sponsors’ committed capital and imminently launching a fund, Capton Energy has a primary focus on energy transition infrastructure including renewable energy generation, energy storage, EV infrastructure and energy efficiency. With a core interest in selected countries in Africa, Asia and the Middle East, we are seeking to deliver positive impact to local communities and industries by providing clean energy solutions that decarbonise electricity, reduce energy consumption, increase electrification, and provide energy access.
About Enerwhere: Enerwhere is a global leader in renewable energy solutions for off-grid power markets and is deeply committed to the energy transition. The company provides power to commercial & industrial customers without a stable grid connection, using its proprietary suite of solar-hybrid mini-grid. Enerwhere designs, builds, & operates, the world’s most advanced microgrids, committed to integrating renewable technologies in innovative ways.
The future of energy is distributed and digital and Enerwhere invests heavily in its own data and software application – Enlite – which uses high-resolution data analytics to assess each client’s energy requirements on a very high resolution and uses this information to tailor a complete energy solution which evolves over time depending on client need.
Enerwhere’s sustainable power solutions help clients across the construction, real estate, hospitality, mining, oil and gas & waste management industries to reduce fuel costs & carbon emissions while increasing reliability of their operations. Since its inception in 2012 Enerwhere has reduced the carbon emissions of its clients by over 40,000 tons of CO2.
