African energy developer Anzana Electric Group (AEG) and Convergence Partners Energy Finance (CPEF) have signed indicative terms for a $20 million structured investment to support the expansion of Anzana’s energy platform across Africa.
According to a joint statement, the deal – announced on the sidelines of the Africa Energy Forum in Cape Town – will strengthen AEG’s project pipeline and support the development of hydropower and electricity distribution projects across the continent.
The funds will be directed towards short‑term mergers and acquisitions and project development, with a focus on operating assets and those under rehabilitation in the group’s strategic markets, including the Lobito corridor.
The investment will back AEG’s upcoming growth phase and position the company for a larger capital raise as its portfolio develops, the company’s chief executive Brian Kelly said.
“This proposed partnership provides us with the type of capital we need at the right time in our growth,” Kelly said.
He noted that CPEF shares the belief that decentralised hydropower and distribution systems can evolve into scalable, bankable assets on the continent.
CPEF managing partner Laurentius Human said the core obstacle to Africa’s energy transition is less about funding than about whether financial instruments are tailored to the sector’s requirements.
“We operate in the space between bankable projects and projects capable of scaling up,” he stated, highlighting his group’s operational and sector expertise on the
continent.
The deal still depends on due‑diligence checks, the signing of final agreements and internal approvals on both sides.
AEG, active in East, Central and Southern Africa, develops, finances and runs hydropower projects and electricity distribution networks.
AEG is supported by US private investors and by Gridworks Development Partners, which focuses on African power infrastructure.
Mauritius‑based Convergence Partners Energy Finance, the group’s investment arm, offers mezzanine and structured financing to African energy and tech firms, helping them grow without giving up equity too early.
AC/Sf/fss/jn/APA