Adenia Partners buys majority stake in solar company Enfin

BREAKING NEWSOctober 10, 2023 at 1:00 PM UTC

Adenia Partners, a private markets investment firm in Africa, has acquired a majority stake in Enfin, a provider of solar financing solutions in South Africa. This transaction marks the first investment from Adenia's fifth flagship fund, Adenia V.

Enfin operates by funding, maintaining, and insuring solar installations, allowing its clients to adopt cleaner energy sources and reduce their reliance on the unreliable power grid. Enfin's goal over the next five years is to own, construct, and operate more than 100MW of solar assets, potentially offsetting more than 200,000 metric tonnes of CO2 emissions annually.

Adenia's investment in Enfin reflects a shared commitment to addressing the energy crisis and promoting environmental sustainability. Additionally, the partnership reunites Adenia with Heine Herholdt, a prominent expert in the commercial and industrial solar sector, facilitating the exchange of expertise and innovation.

Key Takeaways

The investment in Enfin comes at a critical time for South Africa as the country grapples with a severe energy crisis that has had a profound impact on economic growth and daily life. South Africa has experienced record levels of load shedding, which are power blackouts lasting up to 12 hours a day, posing a significant threat to the nation's industrialized economy. The South African Reserve Bank (SARB) has projected that there could be as many as 250 days of power blackouts in 2023, resulting in an economic loss exceeding $13 billion. Enfin is seen as a beacon of hope in this crisis, as the company specializes in providing affordable and sustainable solar energy solutions to businesses, farms, sectional titles, and schools in South Africa. The investment from Adenia Partners is expected to contribute to addressing the energy challenges in the country and promoting a more reliable and sustainable energy future.