Gridworks is a development and investment platform targeting transmission, distribution and off-grid electricity in Africa.
Sustainable, affordable and reliable power is one of Africa’s biggest challenges with over 600 million people (two-thirds of its population) going without electricity and the benefits it brings. It is estimated that $345 billion of investment in transmission and distribution is required by 2040 to absorb current and planned power generation.
How Gridworks will make an impact
Launched in 2019 Gridworks will work with governments, multilateral organisations and other investors to bring flexible, patient capital and private sector expertise to the sector.
Traditionally, the public sector and multilateral institutions have been responsible for financing the electricity network in Africa, but the scale of the challenge means there is a need for complementary investment from the private sector.
The company’s vision will see it develop, and then invest in, commercially sustainable electricity network infrastructure, whether on or off-grid. This includes utility concessions, public private partnerships (PPPs), management contracts, rural electrification programmes, isolated grid systems, off-grid-to-on-grid investments, or utility services companies. Over time, this work will accelerate the delivery of affordable, reliable power to the people and businesses who need it.
More about Gridworks
CDC has pledged $325m of long-term capital to Gridworks as its dedicated platform in Africa’s power network market. The company is a subsidiary of CDC and is backed by the UK Government.
CDC’s investment in Gridworks will contribute to Global Goal 7 of the Sustainable Development Goals: Affordable and Clean Energy.
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