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Eaglestone to Invest in Angola, Mozambique Clean Energy
Eaglestone NV intends to invest as much as 40 percent of a planned 100-million euro renewable energy fund in projects in Angola and Mozambique, using local knowledge to tap new markets.
While opportunities are bigger in South Africa, other nations in sub-Saharan Africa where there's a growing appetite for renewables include the two former Portuguese colonies as well as Namibia and Botswana, Eaglestone chief executive officer Pedro Neto said in an interview in London.
"Sub-Saharan Africa is about to take off," he said. "The growth can be huge, but the size of the projects will be different from South Africa because they don't have the same needs." Africa and the Middle East had the biggest regional growth in renewable energy investment last year, with spending growing 228 percent to $12 billion, according to a June 12 report by the United Nations Environment Programme and Bloomberg New Energy Finance.