CDC Group, the UK government’s foreign investment arm, has announced it will invest $300 million in power grid development in Africa over the next five years. This contribution will be made through Gridworks, a company that will be launched shortly to this end. The company will make investments in African transmission networks, but also in the electricity distribution infrastructure. CDC chief executive Nick O’Donohoe said, Gridworks Company, to be launched soon, will make funding in power transmission and distribution infrastructure, as well as off-grid electricity systems. Focused primarily on Africa, Gridworks’ ambition is to invest over $300m of long-term capital in viable projects over the coming years.

Source: The North Africa Journal June 12, 2019 18:00 UTC