Anergi Group

What Anergi Group does

Anergi Group is a privately-held, African-owned power infrastructure company that develops, finances, owns, and operates electricity generation assets across sub-Saharan Africa. The company was originally established in 2004 as Aldwych International Limited, was wholly acquired in 2008 by Pan-African Infrastructure Development Funds managed by Harith General Partners, and was rebranded as Anergi in Mauritius in 2017–2021. Anergi is the holding entity for a portfolio of six power generation assets spanning thermal (gas, dual-fuel, combined-cycle gas turbine) and renewable (wind, solar) technologies, with a combined gross capacity of approximately 1,518 MW across Ghana, Kenya, Nigeria, South Africa, and Sierra Leone. Its generation stack includes Azura-Edo IPP (461 MW, Nigeria), Kelvin Power (360 MW, South Africa), Lake Turkana Wind Power (310 MW, Kenya — comprising 365 turbines and ~17% of Kenya's installed capacity), Twin City Energy (200 MW, Ghana), Rabai Power Plant (90 MW, Kenya), and the Nant Project (108 MW under construction in Sierra Leone, with financial close reached in November 2024 and first power targeted for Q3 2027).

The company monetises capacity through 20–25 year Power Purchase Agreements (PPAs) with sovereign and quasi-sovereign counterparties — including EDSA in Sierra Leone, KPLC in Kenya, GRIDCo and the Volta River Authority in Ghana, Benin Electricity Distribution Company / Edo State Government in Nigeria, and the City of Johannesburg — providing contracted, predictable revenue denominated in USD or local currency. In 2025, Anergi extended its go-to-market beyond utility-scale grid offtake by co-creating Decentralised Energy Limited (DEL) with Viathan, a distributed energy platform in Nigeria serving industrial, commercial, and residential customers via private electricity networks and virtual CNG pipelines. Anergi is also the co-founder (with Harith General Partners) of the $300 million Pan-African Renewable Energy Fund (PAREF), repositioning the group as both asset owner and capital allocator for Africa's energy transition.

Anergi is wholly owned by Harith InfraCo Ltd and the Pan-African Infrastructure Development Fund 2 (PAIDF-2), both managed by Harith General Partners, and is governed through board representation with day-to-day operations led by CEO Maria Stratonova (ex-Goldman Sachs). The group maintains corporate offices in London and a registered address in Ebene, Mauritius, while operating power assets and regional subsidiaries across West, East, and Southern Africa. Its competitive positioning rests on long-dated capital from parent funds, deep institutional relationships with DFIs (DFC, World Bank, Norfund, FMO, IFU, MCC, EBID), and a leadership team with multi-cycle IPP origination and financial-close experience.

Name

Anergi Group

Legal name

Anergi Holding Company

Website

https://anergigroup.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

11–50 employees

Short description

Anergi Group is a privately-held, African-owned power infrastructure company that develops, owns, and operates ~1,518 MW of thermal and renewable generation across Ghana, Kenya, Nigeria, South Africa, and Sierra Leone, selling electricity under 20–25 year PPAs to national utilities and government entities.

Ownership category

akta.pro rank

Product category

Independent Power Production

NAICS

Electric Power Generation (22111), Wind Electric Power Generation (221115), Solar Electric Power Generation (221114), Electric Power Generation, Transmission and Distribution (2211)

SIC

Electric Services (4911), Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Utility-Scale Power Generation Asset Management (EUAEAMAA)

akta.pro secondary industries

Commercial Structuring & Offtake (PPAs, CfDs, Corporate PPAs, Merchant Strategy) (EUAMAAAE), Renewable Energy Infrastructure (FSAAAKAG)

Keywords

• Independent power production
• Renewable energy generation
• Power purchase agreements
• Distributed energy solutions
• Infrastructure development finance

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Power Generation and Sale (PPA-based): Anergi generates revenue by developing, owning, and operating power generation assets across sub-Saharan Africa. Revenue is derived from long-term Power Purchase Agreements (PPAs) with national utilities, electricity distribution authorities, and government entities, typically spanning 20-25 years. The PPAs provide contracted, predictable revenue streams denominated in USD or local currency. Additional revenue comes from operating and managing power infrastructure for portfolio companies.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

Anergi Group develops, finances, owns, and operates utility-scale power generation assets across sub-Saharan Africa, supplying electricity to national utilities and government electricity authorities under long-term Power Purchase Agreements (PPAs) of 20-25 years. The company manages a portfolio of approximately 1,518 MW of combined gross capacity across thermal (gas, dual-fuel, combined-cycle gas turbine) and renewable (wind, solar) technologies in Ghana, Kenya, Nigeria, South Africa, and Sierra Leone, and operates a distributed commercial and industrial energy joint venture in Nigeria.

Product overview

Anergi Group is a diversified power company that develops, owns, and operates power generation assets across sub-Saharan Africa. The company operates a portfolio of six power generation assets spanning both operational and construction stages, with a combined capacity of approximately 1,518 MW across thermal and renewable technologies. The portfolio includes: Azura-Edo IPP (461 MW gas, Nigeria), Kelvin Power (360 MW thermal, South Africa), Lake Turkana Wind Power (310 MW wind, Kenya), Rabai Power Plant (90 MW thermal, Kenya), Twin City Energy (200 MW dual-fuel, Ghana), and the Nant Project (108 MW dual-fuel under construction, Sierra Leone). Additionally, Anergi holds a stake in Decentralised Energy Limited (DEL), an integrated energy solutions company providing distributed energy infrastructure in Nigeria. The company also co-founded the Pan-African Renewable Energy Fund (PAREF), a $300 million investment vehicle for renewable projects across Africa. Anergi is wholly owned by Harith InfraCo Ltd and the Pan-African Infrastructure Development Fund 2, managed by Harith General Partners.

Differentiator

Problem solved

Functional benefit

Products and services

• Azura-Edo IPP A 461 MW open-cycle gas turbine power station near Benin City in Edo State, Nigeria, supplying power under a long-term PPA.
• Kelvin Power A 360 MW thermal power plant in Johannesburg, South Africa, central to supplying energy to the City of Johannesburg.
• Lake Turkana Wind Power A 310 MW wind farm with 365 wind turbines supplying electricity to Kenya's national grid under a long-term PPA with KPLC.
• Rabai Power Plant A 90 MW combined-cycle thermal power plant in Mombasa, Kenya, one of the most efficient thermal power plants in the country.
• Twin City Energy A 200 MW combined-cycle, dual-fuel power plant in Aboadze, Ghana, that can operate on crude oil and natural gas to deliver baseload power to Ghana's grid.
• Nant Project A 108 MW dual-fuel combined-cycle gas turbine (CCGT) power generation plant under construction in Freetown, Sierra Leone, designed to nearly double Sierra Leone's electricity generation capacity under a 22-year PPA with EDSA.
• Decentralised Energy Limited (DEL) An integrated energy solutions company that designs, builds, finances, operates and maintains distributed energy infrastructure, including power plants, private electricity networks, and virtual CNG pipelines, for industrial, commercial, and residential customers in Nigeria.
• Pan-African Renewable Energy Fund (PAREF) A $300 million fund established with Harith General Partners to invest in renewable energy projects across Africa.

Quantifiable outcome

• ~1,518 MW of combined gross power generation capacity across 5 countries
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Seven partnerships are on record, tiered core and major.

• AG&P (Atlantic Gulf & Pacific Company)coreStrategic or Co-development Partner · 25 June 2025AG&P is partnering with TCQ Power and Anergi Group to co-develop the first U.S.-sourced LNG terminal in West Africa in Sierra Leone. AG&P will serve as the LNG infrastructure development partner for the Nant Power Project's transition from LPG to LNG.
• CEC Africa (Sierra Leone) Limited (CECASL)coreStrategic or Co-development Partner · 25 June 2025CECASL is the entity representing the sponsors of the Nant Power Project and is the lead developer of the LNG terminal in Sierra Leone. CECASL signed the MoU with the Government of Sierra Leone on 25 June 2025 on the sidelines of the U.S.–Africa Business Summit.
• TCQ Power LtdcoreStrategic or Co-development Partner · 15 November 2024TCQ Power initiated development of the Nant Project in 2013 and remained the lead developer until financial close in November 2024. TCQ Power and Anergi provided $85 million of equity for the project. TCQ Power's Executive Chairman Karim Nasser leads the project as co-sponsor alongside Anergi.
• Shapoorji Pallonji (EPC Contractor)coreImplementation/ SI/ Consulting Partner · 15 November 2024Shapoorji Pallonji is the EPC contractor executing construction of the Nant Project using Siemens combined-cycle gas turbine technology.
• Pan-African Renewable Energy Fund (PAREF)coreStrategic or Co-development Partner · 20 June 2022PAREF is a $300 million fund co-established by Harith General Partners and Anergi Group to accelerate renewable energy adoption across Africa. PAREF aims to bridge Africa's $28 billion energy access gap by funding greenfield and brownfield renewable projects, converting high-carbon power sources, and deploying value-enhancing storage technologies.
• ViathancoreStrategic or Co-development PartnerViathan is Anergi's co-investor in Decentralised Energy Limited (DEL), an integrated energy solutions company that designs, builds, finances, operates, and maintains distributed energy infrastructure in Nigeria.
• Burmeister & Wain Scandinavian Contractor (BWSC), FMO, IFUmajorStrategic or Co-development PartnerCo-developers and co-investors alongside Anergi in the Rabai Power Plant (90 MW, Mombasa, Kenya). BWSC co-developed the project with Anergi's project development subsidiary (Aldwych International). FMO is the Netherlands' development bank; IFU is Denmark's Investment Fund for Developing Countries.

Scale indicators6 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Globeleq: British-backed pan-African power IPP that develops, owns and operates utility-scale generation assets across sub-Saharan Africa, closely mirroring Anergi's portfolio model with thermal and renewable plants selling into national grids under long-term PPAs.
• Scatec ASA: Norwegian renewable energy developer and IPP with significant sub-Saharan Africa (and broader emerging-market) portfolio in solar, wind and storage under similar PPA structures to those underpinning Anergi's projects.
• Mainstream Renewable Power: Global renewable energy developer with deep sub-Saharan Africa project pipeline in wind and solar, delivering utility-scale IPPs under long-term PPAs in markets such as South Africa and Kenya where Anergi also operates.
• Cennergi (Cennergi Holdings): South African renewable energy IPP developing and operating wind and solar projects on the African continent under long-term PPAs with national utility Eskom and similar off-takers.
• Lekela Power: Pan-African renewable energy IPP backed by Actis and Mainstream that owns and operates utility-scale wind and solar assets across South Africa, Egypt, Senegal and Ghana, competing head-to-head with Anergi's renewable development pipeline.
• Karpowership: Turkish powership operator supplying floating gas/diesel powerships to African and Caribbean utilities under long-term PPAs, a directly comparable utility-scale thermal IPP model operating in markets like Ghana, Sierra Leone and South Africa.

Others

• Africa Finance Corporation: Pan-African infrastructure investment institution that co-finances power generation and transmission projects across the continent, often partnering with or competing against IPPs like Anergi on DFI-led project finance structures.

Emerging players

• PowerGen Renewable Energy: Pan-African distributed renewable energy and mini-grid developer serving C&I and rural customers, comparable to Anergi's DEL joint venture in addressing decentralised African energy demand.
• BBOXX: UK-based distributed solar and energy-services company operating across sub-Saharan Africa, comparable to Anergi DEL's distributed-energy access model but focused on off-grid and PAYGO residential/commercial customers.

Regional players

• Dangote Industries (Power arm / Obajana Power): Large Nigerian conglomerate with captive gas-fired generation serving its industrial operations; comparable as a regional gas-fired IPP serving Nigerian industrial demand alongside Anergi's Azura-Edo and DEL assets.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/anergigroup
• Xx.com/anergi_group
• Facebookfacebook.com/anergigroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries16 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Anergi Group