Investors back GRIPS to expand solar and storage in Africa

Fortis Green Renewables and Zeitinger Invest have provided growth equity to GRIPS Energy Group, accelerating the company’s expansion of commercial and industrial solar and battery storage projects across sub-Saharan Africa. The investment will finance the acquisition of operational renewable energy assets in Senegal, Botswana, Zambia, and Uganda, while also providing additional capital to expand GRIPS’ portfolio of distributed solar and solar-plus-storage projects. This move follows a broader industry trend toward decentralized energy solutions in the region.

GRIPS aims to reach over 100 MW of solar and battery capacity by 2030 through this investment. The company estimates the expansion will prevent approximately 100,000 tonnes of CO₂ emissions annually, while also helping businesses reduce electricity costs and improve grid stability. The funding strengthens GRIPS’ project pipeline and market position in a region where businesses contend with rising energy prices and unreliable power supplies.

Fortis Green Renewables specializes in equity financing for renewable energy projects in Africa, while Zeitinger Invest focuses on supporting long-term growth-oriented businesses. Their partnership aligns with the growing shift in sub-Saharan Africa’s commercial and industrial sectors toward decentralized solar and storage systems. These solutions address both economic and environmental challenges by offering a more stable and cost-effective alternative to traditional grid dependence.

Businesses in the region often face unreliable power as a major operational hurdle. Distributed solar and battery storage systems directly reduce reliance on national grids, which frequently experience outages and volatility. The investment in GRIPS demonstrates this demand, positioning the company to serve as a model for how private capital can advance energy access and emissions reductions across Africa.

Benito Grimaudo, Managing Director of Fortis Green Renewables, described Africa’s commercial and industrial renewable energy sector as a leading global opportunity. He noted GRIPS’ ability to capitalize on this growth potential. Marcel Zeitinger, representing Zeitinger Invest, stressed the importance of reliable electricity for economic progress. Carsten Jung, GRIPS’ Chief Investment Officer, emphasized that the funding and strategic guidance will accelerate the company’s regional expansion.

The partnership shows the increasing role of private investment in shaping Africa’s energy future.