Norway's development fund to double power investments in Africa

OSLO (Reuters) - Norway's state-owned development fund, Norfund, plans to double or even triple its investments in Sub-Saharan Africa's power sector by 2020, its managing director said on Wednesday.
Norfund is developing hydropower in Sub-Saharan Africa in partnership with Norway's power group Statkraft, and has teamed up with Britain's development fund CDC to invest in Globeleq Africa, a power company with an ambition to add 5,000 megawatt of new capacity.
"We expect to double or even to triple the capital invested in Africa by 2020, depending on the projects," Kjell Roland, managing director of Norfund, told a conference in Oslo, which included energy ministers from Ghana and Zambia.
The fund, backed by the government of the oil-rich Nordic country, has invested more than 2 billion Norwegian crowns ($248.85 million) in Africa so far, mainly in Sub-Saharan Africa.
The fund is seeking to develop power projects in partnership with private investors, like Kenya's 310 megawatt Lake Turkana wind power park, which will be the biggest wind park in Africa.

http://af.reuters.com/article/topNews/idAFKBN0N00HW20150409?sp=true

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