Eaglestone plans to invest in renewable energy in Angola and Mozambique

1 July 2013

Amsterdam-based company Eaglestone plans to invest at least 40 percent of 100 million euros of a renewable energy fund in renewable energy projects in Angola and Mozambique, the chairman of the group said Friday in London.

Cited by financial news agency Bloomberg, Pedro Neto noted that although there were more opportunities in South Africa, other nations with a “growing appetite” for renewable energy included Angola and Mozambique as well as Botswana.

The chairman of the company founded in 2011, with its headquarters in Amsterdam and offices in Cape Town, Lisbon, Luanda and Maputo, said that the Mozambican authorities were evaluating tow possible renewable energy projects and that in Angola the local government had plans to reach production of 200 megawatts each of solar and wind energy by 2017, as part of an ambitious programme to produce a total of 6.2 gigawatts of power compared to current production of 1.2 gigawatts.

A few days ago the International Energy Agency (IEA) published a report that noted that Namibia, Mozambique and South Africa are in the top five countries for growth of wind energy by 2018.

Two months ago Eaglestone started raising cash for a 100 million-euro fund in partnership with Infraventus Capital Partners. In a second stage the fund may total 150 million euros.

Eaglestone, which was set up with a view to becoming an active partner in development of projects essentially located in sub-Saharan Africa and to support worldwide renewable energy projects, has three main business areas – financial advisory, private equity and brokerage. (macauhub)