Fortis Green Renewables and Zeitinger Invest Back GRIPS Energy
The growth equity consortium finances asset acquisitions across Senegal, Botswana, Zambia, and Uganda while backing the group's commercial and industrial solar-plus-storage pipeline.
KIGALI & FRANKFURT — Renewable energy fund manager Fortis Green Renewables Investment Management and German investment company Zeitinger Invest GmbH have provided growth equity funding to GRIPS Energy Group. Financial terms of the transaction were not disclosed.
The capital injection will support GRIPS Energy’s portfolio expansion across Sub-Saharan Africa, financing both the acquisition of operational renewable energy assets and the development of new distributed commercial and industrial (C&I) solar and battery energy storage systems (BESS).
Asset Acquisitions & Regional Footprint
The transaction targets four key African regional markets to expand GRIPS Energy’s operational power generation capacity:
- Target Geographic Markets: Capital deployment will directly fund asset acquisitions in Senegal, Botswana, Zambia, and Uganda.
- Segment Focus: Off-grid and grid-tied distributed solar photovoltaics (PV) and integrated solar-plus-storage solutions.
- Client Portfolio: Tailored to private sector commercial and industrial off-takers seeking reliable, low-carbon power to offset regional grid instability and high diesel generation tariffs.
Funder Mandates & Platform Strategy
The investment combines regional African renewable infrastructure expertise with European capital backing:
- Fortis Green Renewables: Deploys capital through its Green Growth Fund I, targeting operational and late-stage development clean energy assets across East and Southern Africa.
- Zeitinger Invest GmbH: Provides long-term growth capital to green transition and financial inclusion platforms across emerging markets.
- GRIPS Energy Group: Operates as a corporate solar provider and independent power producer (IPP), structuring corporate power purchase agreements (PPAs) and lease-to-own models for C&I enterprises.
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