Quantum Global, a Swiss-headquartered private equity investment firm focused on Africa, is launching a new power development platform on behalf of QG Africa Mezzanine, its $250 million investment fund. QG Power Africa is being established in partnership with Tomé International and International Power Corporation and will focus on opportunities to develop power assets across sub-Saharan Africa.
QG Africa Mezzanine will provide capital for the platform company’s projects and investments while Tomé will be responsible for related project management activities. International Power Corporation will shoulder the task of developing the projects.
In its first phase of operation, the joint venture will prioritize potential opportunities in several sub-Saharan countries including Angola, Botswana, Mozambique, Uganda, Nigeria, Kenya and Ghana. As well as solid returns, the new company will look to maximize the impact of its projects on jobs, wealth creation and local supply chains to help boost the economies of the countries in which it invests.
“The joint venture arrangement of QGPA is based on an exceptional match of capabilities and expertise of the involved parties to conceive and develop power projects across the sub-Saharan region.” Commented Milko Skoro, Quantum Global’s Head of Structured Equity in the statement announcing the launch. “Tomé and IPC’s track record and the newly created platform for further growth were highly attractive to QG Africa Mezzanine LP. We look forward to contributing to close the infrastructure gap and support national growth plans with successful power assets in a number of African markets.”