Grace Ashiru
South Africa-based Airnergize Capital has reached the final close of its first fund at R3.89 billion, approximately $239 million, as it looks to scale investments in clean energy and infrastructure across Africa.
The Development Bank of Southern Africa (DBSA) joined the fund as its lead development finance institution with a R240 million commitment.
Other investors in Fund I include New GX Capital, RMB Ventures, Standard Bank and Nedbank, bringing together development and commercial capital to support infrastructure projects across the continent.
Airnergize Capital, the clean technology investment platform of New GX Capital, focuses on opportunities across energy, water and gas infrastructure while targeting both financial returns and measurable environmental and social impact.
Its initial investments are focused on commercial and industrial solar photovoltaic projects and energy storage assets in South Africa, other sub-Saharan African markets and Indian Ocean islands.
The fund also has a broader pipeline that includes utility-scale power generation, electricity transmission infrastructure, water utilities and gas distribution.
Airnergize Capital is also participating in the Pulse Infrastructure consortium, one of the groups pre-qualified under South Africa’s Independent Transmission Projects programme.
The final close strengthens the pool of institutional capital targeting Africa’s infrastructure and energy transition, as governments and businesses increasingly look to private investors to help address power and infrastructure shortages.
