Fortis Green Renewables Investment Management and Zeitinger Invest GmbH have announced a growth equity investment in GRIPS Energy Group to accelerate the development and expansion of commercial and industrial (C&I) solar and battery energy storage projects across Sub-Saharan Africa. The investment will support the acquisition of operational renewable energy assets in Senegal, Botswana, Zambia and Uganda, while providing additional capital for new distributed solar and solar-plus-storage developments.
GRIPS Energy Group, a developer, owner and operator of distributed renewable energy infrastructure, aims to establish itself as a leading provider of clean energy solutions for commercial and industrial customers across Africa. The company is targeting a portfolio exceeding 100 MW of solar and battery storage assets by 2030.
The planned expansion is expected to improve electricity reliability, reduce operating costs for businesses and support the region’s transition towards cleaner energy sources. According to the company, the portfolio is projected to help avoid approximately 100,000 tonnes of carbon dioxide emissions annually once developed.
The investment comes amid increasing demand for distributed renewable energy solutions across Sub-Saharan Africa, driven by rising electricity tariffs, unreliable grid infrastructure, growing industrial electricity consumption and corporate sustainability commitments.
Solar photovoltaic systems integrated with battery energy storage are becoming increasingly important for businesses seeking dependable and cost-effective electricity supplies. These solutions can help commercial and industrial consumers reduce dependence on conventional power sources, improve energy security and manage electricity costs more effectively.
GRIPS has developed its business around originating, structuring, financing and operating renewable energy infrastructure tailored to local market conditions. Its portfolio strategy focuses on delivering decentralised electricity solutions that address the specific requirements of commercial and industrial customers across multiple African markets.
The new capital from Fortis Green Renewables and Zeitinger Invest will enable GRIPS to expand its project pipeline, strengthen its presence in existing markets and pursue additional renewable energy investment opportunities across the region.
Benito Grimaudo, Managing Director of Fortis Green Renewables Investment Management, highlighted the growing investment potential of Africa’s commercial and industrial renewable energy sector. He stated that GRIPS has established a strong platform supported by local market expertise, a diversified development pipeline and a strategy focused on delivering affordable and sustainable energy solutions.
Grimaudo also expressed confidence in GRIPS’ ability to achieve its target of deploying more than 100 MW of solar and battery storage assets by 2030, supported by increasing demand for reliable electricity across African businesses.
Marcel Zeitinger, Managing Director of Zeitinger Invest GmbH, emphasised the importance of affordable and dependable electricity in supporting economic development across Sub-Saharan Africa. He noted that GRIPS’ renewable energy solutions could help businesses improve competitiveness while contributing to regional decarbonisation efforts.
Carsten Jung, Chief Investment Officer of GRIPS Energy Group, described the investment as an important milestone in the company’s expansion strategy. He stated that the partnership would provide both financial resources and strategic expertise to accelerate renewable energy deployment across multiple African countries.
Jung further highlighted the company’s ambition to develop one of the region’s leading distributed renewable energy platforms, with a focus on helping businesses reduce electricity expenses, improve operational resilience and lower their environmental footprint.
The acquisition of operational assets in Senegal, Botswana, Zambia and Uganda is expected to strengthen GRIPS’ existing portfolio and provide a foundation for further investments in distributed solar generation and battery storage infrastructure.
The investment also reflects growing investor interest in Africa’s decentralised renewable energy market, where commercial and industrial customers are increasingly adopting solar-plus-storage systems to address electricity supply challenges and improve long-term energy cost predictability.
As Sub-Saharan Africa continues to experience rising electricity demand and increasing pressure on conventional power infrastructure, distributed renewable energy solutions are expected to play a greater role in supporting industrial development and economic growth.
Through its planned portfolio expansion, GRIPS aims to contribute to the deployment of more reliable and sustainable electricity infrastructure while supporting regional clean energy objectives.
The partnership with Fortis Green Renewables and Zeitinger Invest positions GRIPS to accelerate its growth across Sub-Saharan Africa, with a long-term focus on scaling solar and battery storage investments, improving energy access for businesses and supporting the continent’s transition towards a lower-carbon energy system.
The companies have not disclosed the financial value of the equity investment or the individual capacities of the renewable energy assets being acquired.
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