What Serengeti Energy does

Serengeti Energy is a Mauritius-domiciled independent power producer that develops, constructs, owns, and operates small-to-medium scale renewable energy plants (solar PV, run-of-river hydropower, and battery energy storage) of up to 50 MW across sub-Saharan Africa. Founded in 2013 as responsAbility Renewable Energy Holding (rAREH) and rebranded in 2021 following the merger with South Africa's REH Group, the company operates 80 MW across 10 power plants in Rwanda, Uganda, Sierra Leone, South Africa, and Malawi, with more than 300 MW in advanced development in Zambia, Senegal, and Côte d'Ivoire. Operating headquarters are in Nairobi, Kenya, with regional offices in Cape Town (South Africa) and Dakar (Senegal), and the company is owned by a consortium of European development finance institutions (KfW, STOA, Proparco, Norfund, Swedfund, and NDF).

Name

Serengeti Energy

Legal name

Serengeti Energy Limited

Website

https://serengeti.energy

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

51–100 employees

Short description

Serengeti Energy is a Mauritius-domiciled independent power producer that develops, builds, owns, and operates small-to-medium scale solar PV and run-of-river hydropower plants (up to 50 MW) across sub-Saharan Africa, selling electricity via long-term PPAs to national utilities, private traders, and commercial end-users.

Ownership category

akta.pro rank

Product category

Independent Power Production

NAICS

Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Hydroelectric Power Generation (221111)

SIC

Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Development-Stage M&A & Portfolio Acquisition (Early-Stage/Ready-to-Build) (EUAMAAAF)

akta.pro secondary industries

Development Management & Owner’s Engineering (Design Basis, Yield, Technical Due Diligence) (EUAMAAAG), Wind Farm Ownership & Operations (IPP/Utility-Owned Asset Operations) (EUACAFAF), Utility-Scale Power Generation Asset Management (EUAEAMAA), Microgrid Development, EPC & Integration (EUAMAJAB)

Keywords

• Renewable energy projects
• Independent power producer
• Solar photovoltaic generation
• Run-of-river hydropower
• Power purchase agreements

Headquarters

HQ city

Nairobi

HQ country

Kenya

HQ region

Africa

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Power Purchase Agreement (PPA) electricity sales: Long-term recurring revenue from selling generated electricity under 20-year PPAs with national utilities (e.g., ESCOM in Malawi for 20 years) and with private power traders / offtakers (e.g., GreenCo Power Services in Zambia, Etana Energy in South Africa for Growthpoint Properties wheeling). Pricing structured per MWh delivered, fixed via PPA tariffs or market-based via SAPP Day Ahead Market.
2. Project development and co-development fees: Revenue from co-developer roles and equity participation in project SPVs (e.g., rAREH acting as co-developer and equity partner on the Nkhotakota Solar Project with Phanes Group in Malawi), earning development fees and equity returns on power plant SPVs.
3. Project finance arrangement and asset ownership returns: Long-dated equity returns on owned power plant SPVs financed via non-recourse project finance structures, including flagship projects such as the $26.5M financed Ilute Solar PV and Boston Hydro.
4. Climate adaptation grants and technical assistance financing: Non-dilutive grant funding (e.g., €250,000 Proparco grant for climate adaptation) and Technical Assistance Facility (TAF) funding from KfW, KOICA, NDF, SECO used to de-risk and support project development.

Pricing tiers

Go-to-market motion5 records

Distribution channels4 records

Marketing channels7 records

Core offering

Serengeti Energy develops, builds, owns, and operates small-to-medium scale renewable energy power plants (solar photovoltaic, run-of-river hydropower, and battery energy storage systems of up to ~50 MW) across sub-Saharan Africa. It generates and sells electricity under long-term Power Purchase Agreements (PPAs) with national utilities, private power traders, and commercial/industrial end-users, supported by an integrated develop-build-own-operate business model.

Product overview

Serengeti Energy is a renewable Independent Power Producer (IPP) with a portfolio of operating power plants and projects under development/construction across sub-Saharan Africa — comprising a unified platform of solar PV, run-of-river hydropower, and battery energy storage assets. The operating fleet includes Boston Hydro (5 MW), Sol Plaatje (3 MW), Merino (4 MW), Stortemelk (4 MW) and the Mpanga, Nyamwamba II and Rwaza 1 hydropower plants, together with the Nkhotakota Solar PV plant (21 MW) in Malawi and the Baoma 1 Solar PV plant (5 MW) in Sierra Leone. The development pipeline centers on the Ilute Solar PV Project (32 MWp in Zambia) and the Sinématiali Solar PV Project (50 MWp in Côte d'Ivoire), alongside an under-development portfolio exceeding 300 MW across Senegal, Zambia, Uganda and Rwanda. Serengeti Energy's integrated business model spans early-stage development, EPC oversight (e.g., Energy China for Ilute Solar, Kwa Mhlanga Construction for Boston Hydro), and operations and maintenance, supported by the Hexagon EAM enterprise asset management platform delivered via TouchstoneEnergy. Complementary offerings include the Umoja Renewable Energy Incubator Programme (in partnership with PFAN) to develop early-stage renewable energy projects across Africa.

Differentiator

Problem solved

Functional benefit

Products and services

• Boston Hydro 5 MW run-of-river hydropower plant located on the Ash River within the Lesotho Highlands Water Scheme in South Africa; Serengeti Energy's fourth hydropower plant in the country; sells output to Etana Energy via a willing buyer/willing seller bilateral PPA that is on-sold to Growthpoint Properties under a wheeling arrangement on the Eskom grid.
• Nkhotakota Solar PV Plant 21 MW (Phase 1) solar photovoltaic power plant in Malawi, completed as part of a ~46 MW two-phase project that diversifies Malawi's energy mix away from hydropower dependency; sells electricity to ESCOM under a 20-year PPA signed February 2019.
• Baoma 1 Solar PV Plant 5 MW solar PV power plant in Sierra Leone, the first phase of a 25 MW solar PV project, supplying electricity to the Electricity Distribution and Supply Authority (EDSA); Sierra Leone's first independent power project (IPP).
• Ilute Solar PV Project 32 MWp solar PV project in Sesheke, Western Province, Zambia; co-developed by Serengeti Energy and Kwama Energy through project company Ilute Solar Limited; first major energy project to connect to the SAPP via a market-based PPA with GreenCo Power Services without sovereign guarantees.
• Sinématiali Solar PV Project 50 MWp solar PV project in development in Sinématiali, Poro region of northern Côte d'Ivoire, under an MoU with the Ministry of Energy of Côte d'Ivoire; marks Serengeti Energy's West Africa expansion.
• Rwaza 1 Hydro Power Plant 2.6 MW run-of-river hydropower plant in Musanze, Rwanda; Serengeti Energy's first operational hydro plant and majority stake acquired from Frontier Energy in March 2023.
• Sol Plaatje Hydro Power Plant 3 MW run-of-river hydropower plant on the Ash River in South Africa, originally commissioned in 2009; included in the Investec refinancing/upgrading arrangement announced March 2025.
• Merino Hydro Power Plant 4 MW run-of-river hydropower plant on the Ash River in South Africa, originally commissioned in 2010; included in the Investec refinancing/upgrading arrangement announced March 2025.
• Stortemelk Hydro Power Plant 4 MW run-of-river hydropower plant on the Ash River in South Africa, commissioned in 2016; the third hydropower plant developed by Serengeti Energy (then REH Group) in South Africa.
• Nyamwamba II Hydro Project Run-of-river hydropower plant in Western Uganda that achieved commercial operation in May 2022; supported by a USD 10.6 million loan from PIDG's Emerging Africa Infrastructure Fund.
• Mpanga Hydropower Plant Small-scale run-of-river hydropower plant in Western Uganda; part of the operational portfolio focused on supplying local communities with clean power.
• Umoja Renewable Energy Incubator Programme Renewable energy incubator programme launched in partnership with PFAN to support aspiring renewable energy project developers across Africa, including Côte d'Ivoire.

Quantifiable outcome

• 80 MW operational capacity across 10 operating plants in sub-Saharan Africa
• +6 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

16 partnerships are on record, tiered flagship, minor and core.

• Energy ChinaflagshipImplementation/ SI/ Consulting Partner · 18 September 2025EPC contractor for the 32 MWp Ilute Solar PV Project. Signed the Engineering, Procurement and Construction contract with Serengeti Energy and Kwama Energy in Lusaka, 18 September 2025; construction to commence from November 2025 with completion targeted within 12 months.
• Kwama EnergyflagshipStrategic or Co-development Partner · 1 June 2025Zambian Independent Power Producer co-developing the 32 MWp Ilute Solar PV project in Western Province, Zambia. Joint venture partner with Serengeti Energy through project company Ilute Solar Limited. Brings deep local development expertise and focus on powering critical mineral value chains.
• ZESCO LimitedflagshipStrategic or Co-development Partner · 1 December 2024Zambia's national power utility and grid connection counterparty for the 25 MWac Ilute Solar PV Project; signed a Grid Connection Agreement in December 2024 and a System Operations Agreement with GreenCo in October 2023. Provides grid-related operational services and assumes grid-related operational risks under the Ilute market structure.
• Join for Water (JFW) and Joint Effort to Save the Environment (JESE)minorOthers · 6 November 2024Implementing partners of the five-year Protection and Conservation of Water Resources (PCWR) initiative funded through Serengeti Energy's TAF; jointly handed over the Kalere Trading Centre Water Facility to Kitagwenda District local government on 6 November 2024, providing clean water access to 8,000+ residents across 8 villages.
• Ministry of Energy, Republic of Côte d'IvoirecoreStrategic or Co-development Partner · 28 October 2024Signed a Memorandum of Understanding with Serengeti Energy and a local partner for the development of a 50 MWp solar power plant in Sinématiali, located in the Poro region of northern Côte d'Ivoire. Supports West Africa expansion and Côte d'Ivoire's renewable energy targets.
• Western Solar Power (WSP)flagshipStrategic or Co-development Partner · 1 December 2023Zambian renewable energy developer and landowner of the 100MW Sesheke Solar Park; co-founded Ilute Solar with Serengeti Energy for the 25 MW Ilute Solar PV project. Citizen-empowered corporation in partnership with Buffalo Energy and local investors.
• Africa GreenCo Group / GreenCo Power Services LimitedflagshipChannel Partner/ Reseller/ Distributor · 1 December 2023Renewable energy buyer and trader acting as offtaker for the Ilute Solar PV Project under a market-based Power Purchase Agreement signed at COP 28 in December 2023. Aggregates power for sale to utilities, private offtakers, and SAPP markets.
• Hexagon EAM (delivered via TouchstoneEnergy)coreTechnology or Integration · 9 August 2023Enterprise Asset Management (EAM) platform deployed by Serengeti Energy to manage operations and maintenance across its power plant fleet; live since August 2023.
• Frontier EnergyminorStrategic or Co-development Partner · 29 March 2023Original joint development partner for the Rwaza 1 (2.6MW) run-of-river hydropower plant in Musanze, Rwanda. Serengeti Energy acquired Frontier Energy's entire stake in March 2023 (transaction advised by Bowmans), becoming majority owner.
• BowmansminorImplementation/ SI/ Consulting Partner · 29 March 2023Legal transaction advisor supporting Serengeti Energy's acquisition of the majority stake in Rwaza 1 hydro plant from Frontier Energy (completed 29 March 2023).
• PFAN (Private Financing Advisory Network)coreGTM or Marketing Partner · 1 August 2022Co-launched the Umoja Incubator programme with Serengeti Energy in August 2022 to support aspiring renewable energy project developers across Africa, followed by a 2022 winner announcement.
• WWF UgandaminorOthers · 15 April 2020Partnered with rAREH (now Serengeti Energy) on the restoration of the Nyamwamba River in Uganda; jointly aimed to improve livelihoods of 900 households in the region through donor-funded Technical Assistance.
• Phanes GroupcoreStrategic or Co-development Partner · 1 December 2019UAE-based international solar energy developer that led development of the Nkhotakota Solar Power Plant (USD 67M, 46 MW) in Malawi; rAREH (now Serengeti Energy) acted as co-developer and primary equity partner, with Natsons as local development partner and OPIC/DFC providing debt financing.
• Kwa Mhlanga ConstructionminorImplementation/ SI/ Consulting PartnerLead construction contractor for the 5 MW Boston Hydro project in South Africa, responsible for initial groundwork, site preparation, access roads, infrastructure installation, and power plant construction along the Ash River.
• Lamine Ndour (West Africa Development Manager at Serengeti Energy)coreOthersSerengeti Energy's West Africa Development Manager leading the company's Côte d'Ivoire and Senegal expansion efforts; quoted on the Sinématiali MoU signing.
• Local partner (unnamed, Côte d'Ivoire Sinématiali)coreStrategic or Co-development PartnerCo-signatory of the October 2024 MoU with Côte d'Ivoire's Ministry of Energy for the 50 MWp Sinématiali solar project; focused on socio-economic development in northern Côte d'Ivoire.

Scale indicators18 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Globeleq: UK-based independent power producer focused exclusively on sub-Saharan Africa, owned by British International Investment and Norfund (a Serengeti shareholder). Operates a multi-GW portfolio across thermal, wind, solar, and geothermal — directly comparable as a pan-African IPP targeting emerging markets with DFI backing.
• Lekela Power: Pan-African renewable IPP focused on wind and solar projects, originally Actis-backed and now majority-owned by Africa50. Operates utility-scale projects in South Africa, Egypt, Senegal, and Ghana — directly comparable to Serengeti as a specialised African renewable IPP.
• juwi Renewable Energies: German-headquartered renewable energy developer with significant sub-Saharan African operations (South Africa, Kenya, Madagascar, Ghana). Comparable as a German-anchored renewable IPP/developer in Africa with utility-scale project experience and engineering depth.
• BioTherm Energy: South African renewable IPP operating wind and solar PV projects across South Africa. Comparable to Serengeti's South African hydropower portfolio as a sub-Saharan African IPP targeting similar commercial offtaker and utility counterparty structures.
• Mainstream Renewable Power: Global renewable energy developer with a substantial African wind and solar development pipeline across South Africa, Senegal, Egypt, and Kenya. Comparable to Serengeti as a utility-scale African renewable project developer with experience securing PPAs and project finance.
• Phanes Group: UAE-based international solar developer with active project development in sub-Saharan Africa including the Nkhotakota Solar Plant in Malawi (co-developed with Serengeti Energy). Directly comparable as a utility-scale African solar PV developer and a known co-development partner.

Broad incumbents

• Scatec ASA: Norwegian renewable IPP with significant operating presence across sub-Saharan Africa including solar, wind, and storage projects in South Africa, Mozambique, and Egypt. Comparable as a large-scale, DFI-friendly African IPP, though it operates across many more geographies and technologies than Serengeti's small-to-medium focus.
• Africa GreenCo: Zambia-based regional power trader and aggregator operating in the Southern African Power Pool. Already a Serengeti offtake partner (Ilute Solar) and conceptually comparable as a developer of open-access market mechanisms that enable non-sovereign-guaranteed IPP finance in SAPP.
• Solarcentury (now Statkraft): Solar PV developer acquired by Statkraft in 2020 with extensive African project history including Kenya, Uganda, and Zambia. Comparable as a utility-scale African solar developer that has executed PPAs with national utilities in the same markets as Serengeti.

Regional players

• BBOXX: UK-headquartered solar energy company focused on off-grid and weak-grid solar across sub-Saharan Africa (Kenya, Rwanda, Tanzania, DRC, Nigeria, Ghana). Comparable as an African renewable energy operator, though primarily distributed/off-grid versus Serengeti's utility-scale focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCeEPI3SNbYRe4IfclQDTGvQ
• LinkedInlinkedin.com/company/serengeti-energy-africa
• Xx.com/SerengetiEnergy

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries3 records

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Serengeti Energy