Page 12 - AfrElec Week 22

AfrElec NEWS IN BRIEF AfrElec

management. Matteo Brambilla, Chief Executive to the global COVID-19 response to over
Evolution II is managed by Inspired Officer of the Red Rocket Group, said: “We $50mn.
Evolution, an Africa-focused investment are pleased to be partnering with Inspired The Foundation highlighted that these
advisory firm that specialises in clean energy Evolution who bring sector expertise and grants will enhance data collection through
infrastructure and resource efficiency proven project finance return performance contact tracing, symptom checking, and
investments. to augment our efforts in building Red testing that can generate data that is crucial for
The ground-breaking partnership brings Rocket into one of Africa’s premier long-hold ensuring efficient Covid-19 responses across
together two seasoned professional teams with utilityscale IPP platforms offering least- the community, country, and regional levels.
deep sector experience and proven renewable cost clean and reliable energy to African “When I was leading the US response to
energy project development and auction customers. Our auction successes under the 2014 outbreak of Ebola in West Africa,
conversion success to ramp up Red Rocket the REIPPPP in South Africa and in select using transparent, location-specific, real-time
Group’s activities across Africa. countries across Africa are testament to data was a game-changing innovation,” said
The buy-out deal leverages the resources the innovation we continually apply to our Dr Rajiv J. Shah, President of The Rockefeller
of multiple Development Finance Institutions renewable energy public and private bid Foundation. “Employing a data-driven
(DFIs) and international investors together strategies.” response to outbreaks is critical to target
with local leading South African investment RED ROCKET prevention and response efforts much more
institutions active across Africa, secured via precisely and return to normal more quickly.”
Inspired Evolution and Red Rocket’s existing Rockefeller Foundation
relationships, to strengthen and forge stronger
partnerships for its African expansion. commits $3m to support
Red Rocket is an integrated renewable GRID
energy IPP that develops, designs, constructs, health, electricity
operates, and owns utility-scale grid- Nigerian grid again
connected renewable energy projects (wind, The Rockefeller Foundation will award three
solar, hydro and biomass) with operations in new grants to support organisations that are collapses
multiple countries across Africa. working with countries, communities, and
Founded in 2012 and headquartered in regions in Africa and Asia to leverage data Nigeria’s national electricity grid, operated
Cape Town, Red Rocket was originally set up and technology to bolster their COVID-19 from Osogbo in Osun State, again collapsed
as the Africa and Middle East business unit of response. Tuesday afternoon, leaving the entire country
Building Energy’s global operations. A portion of the grants is earmarked for in darkness.
Red Rocket’s portfolio comprises off-grid technologies that can quickly address The grid collapsed in May due to industrial
377 MW of projects in operation, under the energy needs of healthcare facilities unrest, after it had earlier collapse in April
construction and awarded under public and currently operating without electricity. which heightened poor power supply.
private bids. The Group is also developing In a company statement, the Foundation Though TCN is yet to clarify the reason
a portfolio in excess of 2 GW of additional said it is awarding grants totaling $3mn to for the latest collapse, the grid recorded over
best-in-class wind, solar, hydro and biomass four organisations: Dalberg, Dimagi, Medic eleven system collapse last year.
projects to bid under future rounds of South Mobile, and Odyssey Energy Solutions. The Association of Nigerian Electricity
Africa’s renewable energy independent These new grants build on the Foundation’s Distributors (ANED), the umbrella body
power producer procurement programme efforts to improve public health and provide of the distribution companies had last year
(“REIPPPP”), and other procurement reliable electricity to vulnerable communities decried the repeated system collapse, stating
programmes across various African countries. worldwide and bring its total commitment that TCN’s analogue system caused over 100

P12 www. NEWSBASE .com Week 22 04•June•2020