Adenia Partners, a private markets investment firm with a focus on responsible investing in Africa, has completed a majority investment in Enfin, a solar financing solutions provider in South Africa. This investment marks the first from Adenia’s fifth flagship fund, known as “Adenia V.”
South Africa is grappling with a severe energy crisis, with frequent power blackouts disrupting daily life and posing a threat to the nation’s economy. Enfin steps in with a mission to enhance the affordability and accessibility of electricity for South Africans by supporting businesses, farms, schools, and others seeking cleaner and more sustainable energy sources.
The company provides funding, maintenance, and insurance for solar solutions, enabling clients to reach their sustainability goals without capital expenditure or risk. Over the next five years, Enfin plans to own, build, and operate more than 100MW of solar assets, potentially mitigating over 200,000 metric tons of CO2 emissions annually.
This investment also marks a reunion for Adenia Partners and Heine Herholdt, who previously collaborated on Herholdt’s success in importing and distributing solar equipment in South Africa. Herholdt brings his deep knowledge of the commercial and industrial solar sector to this transaction.
Florent de Boissieu, Partner at Adenia, highlighted the alignment of Enfin’s vision with their strategy to create sustainable impact while delivering financial returns. He expressed eagerness to work with Enfin in providing South African businesses with energy savings and preserved capital.
Werner Loftus, CEO of Enfin, emphasized the significance of joining forces with Adenia Partners. He noted that the partnership would accelerate the reach of their funding solutions, especially in supporting sectors most affected by the energy crisis.
Adenia V, currently surpassing its $400 million fundraising target, continues the firm’s investment strategy to control medium-sized companies in Africa with potential for operational and ESG improvements. The fund places a particular emphasis on driving climate action across the continent and intends to set carbon reduction targets for all investees. Additionally, Adenia is committed to achieving carbon neutrality at the firm level by 2027.