Anzana Electric Group, a Gridworks portfolio company, has entered into indicative terms for a proposed $20 million investment from Convergence Partners Energy Finance (CPEF). The capital will enable Anzana to explore new acquisitions, build new hydropower projects, and develop its electricity distribution platform.
The capital will target operating and brownfield assets in Anzana’s core markets, with a particular focus on the Lobito Corridor – a region with significant untapped hydropower potential and infrastructure demand driven by critical minerals.
CPEF brings deep African energy expertise alongside its financial commitment. The facility is intended to position Anzana in its next phase of growth. It follows the $20 million debt financing facility Anzana secured from British International Investment earlier this year to fund the construction of run-of-river hydropower projects across East, Central and Southern Africa.
Together, these capital partnerships reflect the strength of the platform Anzana is building and the potential for private investment in Africa’s grids
Shaun Githuku, Co-Head of Business Development at Gridworks, said:
“This proposed deal validates the commercial potential investors see in Anzana and its mission. With new capital, Anzana will expand its reach, building financially attractive projects that improve energy access.”
Brian Kelly, CEO of Anzana Electric Group, said:
“This proposed partnership gives us the right kind of capital at the right point in our growth. CPEF understands African energy from the ground up. They are backing a thesis we share: that distributed hydropower and distribution infrastructure can be built into scalable, bankable platforms across the continent.”
