Fortis Green Renewables & Zeitinger Invest are providing growth equity to scale GRIPS’ C&I solar & battery-storage platform
Fortis Green Renewables Investment Management and Zeitinger Invest Provide Growth Equity to the GRIPS Energy Group to accelerate Commercial & Industrial solar and storage investments across sub-Saharan Africa
Fortis Green Renewables Investment Management and Zeitinger Invest GmbH have invested in the ARE Member GRIPS Energy Group, a developer, owner and operator of C&I solar and battery energy storage projects across sub-Saharan Africa.
The investment finances the acquisition of operational renewable energy assets in Senegal, Botswana, Zambia and Uganda and provides growth capital to support GRIPS’ expansion of distributed solar and solar-plus-storage projects serving commercial and industrial customers.
GRIPS aims to build one of the leading distributed renewable energy platforms in sub-Saharan Africa, targeting a portfolio of more than 100 MW of solar and battery storage assets by 2030. The portfolio is expected to deliver significant volumes of clean electricity to businesses across the region and avoid an estimated 100,000 tonnes of CO₂ emissions annually, while improving energy reliability and reducing operating costs for customers. As such, GRIPS will play a critical role in addressing energy supply challenges while supporting the continent’s energy transition.
Capturing Africa’s Fast-Growing Energy Transition Opportunity
The demand for distributed renewable energy solutions across sub-Saharan Africa continues to grow rapidly, driven by rising electricity costs, grid instability, increasing power demand and corporate sustainability commitments. Solar and battery storage solutions are becoming an increasingly important source of energy security and cost competitiveness for commercial and industrial customers.
GRIPS has established a strong presence in the sector through its ability to originate, structure, finance and operate high-quality renewable energy infrastructure projects tailored to local market requirements.
The investment from Fortis Green Renewables and Zeitinger Invest will enable GRIPS to expand its project pipeline, strengthen its local market presence and scale its portfolio of renewable energy assets across multiple African jurisdictions.
Benito Grimaudo, Managing Director of Fortis Green Renewables Investment Management, said:
“We are delighted to partner with the GRIPS management team and Zeitinger Invest at a pivotal stage of the company’s growth. GRIPS has built a compelling platform with a strong pipeline, deep local market expertise and a clear strategy for delivering affordable and sustainable energy solutions to commercial and industrial customers across Africa.Africa’s C&I renewable energy sector represents one of the most attractive investment opportunities globally. We believe GRIPS is exceptionally well positioned to capture this opportunity and establish itself as a leading renewable energy platform across the continent. We look forward to supporting the company as it works towards its ambitious target of deploying more than 100 MW of solar and storage assets by 2030.”
Marcel Zeitinger, Managing Director of Zeitinger Invest GmbH, said:
“Reliable and affordable access to electricity remains one of the most important drivers of economic growth across Sub-Saharan Africa. GRIPS has demonstrated its ability to deliver impactful renewable energy solutions that improve competitiveness for businesses while advancing the energy transition. We are excited to support the company’s growth plans and long-term vision.”Carsten Jung, Chief Investment Officer of GRIPS Energy Group, said:
“This investment represents an important milestone for GRIPS. The support of Fortis Green Renewables and Zeitinger Invest provides not only growth capital but also strategic expertise that will enable us to accelerate our expansion across Sub-Saharan Africa.Our vision is to build one of Africa’s leading distributed renewable energy platforms for commercial and industrial customers. With the backing of our new shareholders, we are targeting the deployment of more than 100 MW of solar and battery storage assets by 2030, helping businesses lower energy costs, improve competitiveness, strengthen energy resilience and reduce their carbon footprint.
The investment underscores the confidence of Fortis Green Renewables and Zeitinger Invest in both the GRIPS team and the long-term growth prospects of the African C&I renewable energy sector.”