Inuka Partners

SMA Altenso Reaches 1 GW Milestone in Hydrogen Projects ?? ?? SMA Altenso (Altenso), a subsidiary of SMA Solar Technology AG, continues to drive the flexible use of renewable energy through global projects. After successfully installing SMA inverter technology for Cleanergy Solutions Namibia’s hydrogen project, Altenso has now surpassed 1 gigawatt (GW) of total power delivered for hydrogen applications. ?? Dr. Jens Eiko Birkholz, Head of Sales & Business Development at Altenso, highlighted the company’s extensive technological expertise, international project management experience, and the successful implementation of over 80 hydrogen projects, enabling the production of up to 130,000 tons of green hydrogen annually. ?? SMA CEO Jürgen Reinert emphasized stable grid integration and load control as crucial for the evolving hydrogen market, noting that SMA’s advanced technologies and Altenso’s expertise are shaping the future of energy. ?? Altenso is leading system integration for battery storage (BESS) and power-to-gas (P2G) solutions for hydrogen production at a project on Namibia’s Atlantic coast. Hydrogen production is set to begin mid-2025, following the successful installation of a PV farm and battery inverter technology by the end of 2024. SMA’s IGBT-based rectifier solution ensures compatibility with electrolyzers and enhances grid stability. ?? The company has also developed an advanced energy management system (EMS) to optimize hydrogen production using PV forecasts and dynamic demand profiles. Congratulations to Dr. Jens Eiko Birkholz and Jürgen Reinert! #GreenHydrogen #RenewableEnergy #Sustainability #Solar #BatteryStorage #EnergyTransition #Decarbonization

Osaka Gas Co., Ltd. & CleanMax Form JV for Renewable Energy in India ???? ?? Osaka Gas Co., Ltd. is partnering with Clean Max Enviro Energy Solutions Pvt. Ltd. to develop renewable energy projects in India through a new joint venture (JV). ?? The JV, named Clean Max Osaka Gas Renewable Energy Pvt. Ltd. (CORE), will be formed with support from a Japanese consortium, including Osaka Gas Singapore and Japan Bank for International Cooperation. Some existing Clean Max projects will be transferred to CORE, while new assets will be developed to reach approximately 400 MW of renewable capacity within the next three years. ?? CORE will sign power purchase agreements with commercial and industrial customers, supplying clean energy through the power grid. This venture marks the Daigas Group’s official entry into India’s renewables sector. ?? Looking ahead, Osaka Gas plans to expand its collaboration with Clean Max to explore opportunities in emerging energy technologies, including green hydrogen and e-methane. Congratulations to Kuldeep Jain and Takeshi Shinohara! #RenewableEnergy #India #GreenGrowth #Solar #Wind #EnergyTransition #Sustainability #CleanEnergy

We are thrilled to welcome Rainer Middii to the Inuka team as an Associate! ?? Rainer is a Kenyan recruitment professional with nearly a decade of experience in human resources across the insurance and healthcare industries. Specialising in C-suite and board-level searches, he has led end-to-end recruitment processes and provided strategic talent solutions across sectors such as forestry, agriculture, FMCG, TMT, technology, and logistics. As he takes the lead on our engagements in East Africa, we are excited to see Rainer’s impact at Inuka! ??

POWERX & Yellow Door Energy Sign 24.5MWp Solar PPA in South Africa ???? ?? South Africa’s first licensed private electricity trader, POWERX, has signed a 24.5MWp solar power purchase agreement (PPA) with Yellow Door Energy (YDE), a leading independent power producer (IPP) in the Middle East and Africa. This milestone agreement will expand renewable energy access across the country. ?? The solar project, based in Leeudoringstad, North West Province, is expected to generate 57.5GWh of clean energy in its first year, offsetting approximately 59,800 metric tons of carbon emissions. POWERX will distribute the electricity nationwide through the national grid, utilizing solar wheeling at the Naledi Ya YDE Solar Park. ?? Forbes Padayachee, CEO of Yellow Door Energy South Africa, emphasised, “This PPA creates new opportunities for small and medium-scale off-takers to access affordable and sustainable power. At Yellow Door Energy, we are committed to accelerating the adoption of renewables through solar wheeling, on-site solar, and battery energy storage solutions. Our projects contribute to job creation, industry decarbonisation, and the Just Energy Transition.” ??? The project includes the construction of a 43km overhead electrical line connecting the solar park to an Eskom substation, strengthening grid infrastructure and improving access to renewable power. Over 500 jobs will be created through contractors, suppliers, and manufacturers, contributing to local economic growth. ?? Construction is set to begin by mid-2025, with commissioning expected in 2026. Yellow Door Energy will manage the financing, design, construction, operation, and maintenance of the solar park throughout the PPA term. Congratulations to Forbes Padayachee and Ina Zietsman! #RenewableEnergy #SolarPower #SouthAfrica #EnergyTransition #Sustainability #CleanEnergy #GreenGrowth

Tata Power Renewable Energy Limited Signs MoU for 7 GW Renewable Energy in Andhra Pradesh ???? ?? Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, has signed a Memorandum of Understanding (MoU) with the Government of Andhra Pradesh to explore renewable energy development in the state. The agreement, signed in Amaravati, marks a significant step toward advancing Andhra Pradesh’s clean energy goals. ?? Under this strategic partnership, TPREL and the Government of Andhra Pradesh will develop up to 7,000 MW (7 GW) of solar, wind, and hybrid projects, with or without storage. The investment for these projects is estimated at ?49,000 crore, making it one of the largest renewable energy investments in the state. ?? Beyond boosting clean energy capacity, this initiative will stimulate the local economy, promote skill development, and generate new employment opportunities. The projects align with the Andhra Pradesh Integrated Clean Energy (ICE) Policy, which targets over 160 GW of renewable energy and aims to attract ?10 lakh crore in investments. ??? TPREL will conduct feasibility studies, site assessments, and development activities, while the New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) will provide facilitation, site identification, and support for evacuation infrastructure. This initiative will significantly enhance Andhra Pradesh’s renewable energy capacity while reinforcing TPREL’s commitment to India’s clean energy transition. ?? Deepesh Nanda, CEO & Managing Director, TPREL, stated: “We are delighted to partner with the Government of Andhra Pradesh in advancing the state’s clean energy journey. By leveraging our expertise and cutting-edge technology, this partnership will drive large-scale renewable adoption, and contribute to India’s sustainability goals. Developing up to 7 GW of clean energy projects will further strengthen Andhra Pradesh’s position as a renewable energy hub and accelerate its transition towards a low-carbon economy.” Congratulations to Deepesh Nanda! #RenewableEnergy #CleanEnergy #India #AndhraPradesh #GreenGrowth #SolarPower #WindEnergy #Sustainability

Emerging Africa & Asia Infrastructure Fund Invests $45M in CrossBoundary Energy to Expand Clean Energy ?? ?? The Emerging Africa & Asia Infrastructure Fund (EAAIF), managed by Ninety One, has contributed $45 million to CrossBoundary Energy to support the expansion of solar, wind, hybrid energy, and battery energy storage systems (BESS) in high-potential renewable energy markets. ? CrossBoundary Energy, a provider of clean energy solutions for corporate and industrial clients, currently operates a portfolio of 25 projects worth ~$100 million, with ~60 MW of generation assets and 22MWh of BESS. An additional ~$560 million portfolio, including 440 MW of generation and over 570MWh of BESS, is under construction or awarded. ?? This investment is part of a broader $300 million senior debt facility led by Standard Bank Group, which recently underwrote $141.5 million for the first tranche. ?? Esther Chan , CFA, a director at Ninety One, stated, “Our funding contribution to CrossBoundary Energy Holdings marks a significant milestone as EAAIF’s first commercial and industrial energy investment in Africa, complementing the fund’s investments in numerous utility-sized renewable energy projects. In our partnership with CrossBoundary Energy, our shared objective is driving Africa's clean energy transition and economic transformation by enabling job-creating industries to thrive. ?? Pieter Joubert, president and chief investment officer of CrossBoundary Energy, commented, “The success of our current portfolio and future pipeline proves that the demand for energy-as-a-service – particularly in mining, telecommunications, and industrial sectors – is higher than ever. The contribution from EAAIF will significantly support our business by providing finance now that will assist with further scaling of our portfolio. We’re grateful to funders like EAAIF who share our commitment to furthering clean growth in Africa.” Congratulations to Pieter Joubert and Esther Chan , CFA! #RenewableEnergy #CleanEnergy #Investment #Africa #EnergyTransition #SolarPower #BatteryStorage #SustainableGrowth

bp and JERA Co., Inc. Unveil Leadership for Offshore Wind JV ?? ?? BP Plc and JERA Co Inc have announced the leadership team for their planned 50/50 offshore wind joint venture, JERA Nex bp, set to become a global offshore wind developer, owner, and operator. ?? Nathalie Oosterlinck will lead JERA Nex bp as CEO, with Erin Eisenberg as CFO and Eric Antoons as COO. Richard Sandford will take on the role of chief development officer, Zlati Christov will be chief investment officer, and Alfonso Montero López will serve as CTO. ?? The JV plans to invest up to $5.8 billion (EUR 5.37bn) by 2030 to drive future offshore wind projects, as initially announced in December. ?? Once regulatory and other approvals are secured, JERA Nex bp is expected to manage a 13 GW offshore wind portfolio across Europe, Asia Pacific, and the US. Congratulations to Nathalie Oosterlinck, Eric Antoons, Richard Sandford, Zlati Christov and Alfonso Montero López! #OffshoreWind #RenewableEnergy #BP #JERA #CleanEnergy #WindPower #EnergyTransition

Empower New Energy to Develop Morocco’s Largest Rooftop Solar PV System for Saray Immo ???? ?? Morocco is set to host its largest rooftop solar PV installation following a 12-year power purchase agreement (PPA) between Empower New Energy and Saray Immo. ??? Empower New Energy will finance, construct, and operate two rooftop solar systems with a combined capacity of 5.8 MWp, covering 49,000 square meters at Saray Immo’s facilities. ? With a $3.5 million (EUR 3.2 million) investment, the project is expected to generate approximately 9,600 MWh of electricity annually, cutting carbon dioxide emissions by around 6,000 tonnes per year. ?? Empower New Energy will oversee the operations post-commissioning, reinforcing its commitment to advancing renewable energy solutions in Morocco. Congratulations to Terje Osmundsen, Arwa Temim, Abderraouf KHEMIRI! #SolarEnergy #Morocco #RenewableEnergy #Sustainability #GreenPower #CarbonReduction #EnergyTransition

VEON’s Jazz & Huawei to Install Solar at 1,000 Network Sites in Pakistan ???? ?? VEON Ltd. has announced a partnership between its subsidiary, Jazz, and Huawei to install solar power systems at 1,000 network sites across Pakistan. ? The initiative, leveraging Huawei’s iSolar technology, aims to enhance network sustainability and cut energy costs by up to 96% at the equipped sites. ?? The project aligns with Jazz’s sustainability vision, integrating renewable energy solutions into its telecom infrastructure. ?? Aamir Ibrahim, CEO of Jazz, highlighted the company’s goals, "We are dedicated to providing a superior customer experience while minimizing our environmental footprint. The deployment of iSolar sites advances our sustainability journey, ensuring reliable connectivity powered by renewable energy." ?? Phillip Gan, President of Huawei Middle East & Central Asia, emphasized the partnership’s significance, "We are proud to partner with VEON and Jazz on the iSolar project, setting a new benchmark for green energy adoption in the telecom industry. This partnership reflects our ongoing commitment to supporting digital transformation with sustainable energy solutions." ?? The Jazz iSolar project will serve as a scalable model for future renewable energy adoption in the telecom sector, with VEON and Huawei reaffirming their commitment to low-carbon technologies as the project advances into 2025. Congratulations to Aamir Ibrahim and Phillip Gan! #RenewableEnergy #SolarPower #Telecom #GreenEnergy #Pakistan #Sustainability #DigitalTransformation

Nedbank & Norfund Invest $31M in Pele Energy Group ?? ? Nedbank Group and Norwegian investment firm Norfund have acquired a substantial minority stake in Pele Energy Group, a renewable energy company co-founded by Gqi Raoleka, a former JPMorgan Chase & Co banker. ?? The firms are investing $31 million (R573 million), following a $135 million structured loan from Nedbank, Norfund, and South Africa’s Industrial Development Corporation (IDC). ?? Matthew Wainwright CA(SA), CFO of Pele Energy Group, stated that the deal will strengthen the company’s financial position and support future capital raising efforts: "The company will target additional capital of R2 billion to R3 billion over the next two years." ?? South Africa requires 30GW of renewable energy to support its energy transition, including battery storage projects. While the country’s electricity supply has improved, clean energy demand is rising as the nation moves away from coal, which still powers over 80% of the grid. ?? As part of the government’s renewable energy procurement programme, Pele and its partners won six out of eight approved projects in December. These projects are expected to reach financial close between September 2024 and March 2026. Congratulations to Matthew Wainwright CA(SA)! #RenewableEnergy #EnergyTransition #SouthAfrica #SolarPower #Investment #CleanEnergy