CPCS partners with Stonechair Capital to galvanize energy projects in Africa
CPCS to help private equity firm Stonechair Capital manage energy investments worth US$ 300 million in Africa.
- CPCS to provide operational expertise on behalf of Stonechair
- CPCS brings on-the-ground presence and investment management capacity
- Both firms cumulate over 70 years of experience in Africa
June 23, 2020 — CPCS partners with Stonechair Capital (SCC) to funnel investments to financially viable energy projects. The partnership centers on managing SCC’s private equity fund, #EnergyAfrica, which aims to improve energy access in Sub-Saharan Africa.
“As operating partner, CPCS will be the bridge between Stonechair and African investees,” says Amit Modi, Managing Director of CPCS’s Infrastructure Development Advisory team.
“Stonechair has a history of putting Africa first,” adds the professional engineer, who has set foot in 15 African countries so far. “This partnership is a natural extension of CPCS and aligns with our focus on growing economies.”
CPCS’s combination of expertise in the evolving energy industry, track record of managing investment portfolios and rich local experience make it a strong choice to carry out this task.
“This partnership provides Stonechair’s portfolio companies access to a depth of real-life experience that is second to none,” says Chris McLean, founder of SCC. “Limited Partners will have plenty of confidence of execution.”
Context: Electricity in Africa
As of 2018, over 640 million people in Africa do not have access to electricity. Demands for electricity will only intensify as the population in the continent will increase by another one billion people by 2050.
To achieve universal electrification in the next decades, Africa must accelerate service via innovative successful local businesses.
The #EnergyAfrica fund helps fulfill this need by responsibly investing into energy projects from production, transmission and smart consumption. Its push for local power generation can ensure reliable electricity in remote regions that support successful business growth.
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About Stonechair Capital
Stonechair Capital (SCC) develops and manages private equity energy funds designed to invest in long-term institutional unlisted equity in African energy projects. SCC has been actively managing investments in East, Southern and West Africa for the past 20+ years. Through access to growth capital, SCC portfolio companies achieve sustained financial expansion that mirrors growth in Africa.
CPCS is a global management consulting firm specializing in infrastructure. CPCS solves challenges specific to transport, power and public-private partnerships. The company is headquartered in Ottawa, Canada, with offices across Africa and globally.
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