GRIPS Energy lands growth equity to build 100MW solar fleet across Africa
What's the deal? GRIPS Energy GroupDealroom has a profile for this one. Try Dealroom → has raised growth equity from Fortis Green Renewables Investment Management and Zeitinger InvestDealroom has a profile for this one. Try Dealroom → to expand commercial and industrial (C&I) solar and battery storage projects across Sub-Saharan Africa. The capital will fund acquisitions of operational assets in Senegal, Botswana, Zambia and Uganda, plus new solar-plus-storage developments.
What's the endgame? GRIPS develops, owns and operates distributed renewable energy infrastructure for C&I customers. It is targeting a portfolio exceeding 100MW of solar and battery storage assets by 2030, which it says would avoid roughly 100,000 tonnes of carbon dioxide emissions annually once developed.
Why now? Demand for distributed renewables is rising across the region, driven by higher electricity tariffs, unreliable grids, growing industrial consumption and corporate sustainability commitments.
Solar systems paired with battery storage let businesses cut reliance on conventional power, improve energy security and manage costs. GRIPS structures, finances and operates projects tailored to local market conditions.
What they're saying: Benito Grimaudo, managing director of Fortis Green Renewables, said GRIPS has built "a strong platform" backed by local expertise and a diversified pipeline. Marcel Zeitinger, managing director of Zeitinger Invest, said reliable, affordable electricity supports economic development and regional decarbonisation.
Carsten Jung, chief investment officer of GRIPS EnergyDealroom has a profile for this one. Try Dealroom → Group, called the deal "an important milestone" in the company's expansion, adding that it brings both capital and strategic expertise to speed deployment across multiple countries.
The signal: The round reflects growing investor appetite for distributed C&I renewables in Africa, where unreliable grids and rising tariffs are pushing businesses toward solar-plus-storage as a dependable, cost-effective alternative.
Read more: solarquarter.com
Image credit: blmcalifornia
