With this acquisition, A.P. Moller Capital aspires to further improve the supply of renewable energy in Cape Verde – and the African continent:
“A.P. Moller Capital has a clear vision to be an active long-term participant in the global energy transition, including to support the growth of renewable power generation combined with stable energy supply. We are pleased to partner with Africa Finance Corporation (AFC) and the local shareholders in Cabeolica to ensure the continued supply of reliable and cost-effective renewable energy in Cape Verde and we aim to build upon this first investment with future growth in the sector on the African continent,” says Lars Reno Jakobsen, Senior Partner at A.P. Moller Capital.
"This investment in Eranove fits well with our strategy for The Africa Infrastructure Fund, namely, to support sustainable development on the African continent. Supplying reliable and cost-effective energy with low carbon emissions, for corporations and households is a necessity for further development in the continent," concludes Jens Thomassen, Partner at A.P. Moller Capital.
We seek to measure the ESG impacts of our investments, and social as well as environmental returns are pursued through carefully structured ESG governance frameworks at all levels of our organisation and at all stages of the investment process. Learn more in our ESG Report 2020.
Lumika will develop a portfolio of cost efficient, renewable energy solutions for commercial and industrial customers in Africa. As well as design, build and finance renewable based energy solutions for commercial and industrial customers in Africa through, among others, the installation of solar panels supplying green energy and providing software that creates transparency in terms of energy consumption. These solutions will lower the high cost of energy, reduce the reliance on fossil energy sources and in the end help African businesses to become more cost competitive and lower their impact on the environment by lowering their carbon footprint.
Holding Marocaine Commerciale et Financiere (“HOLMARCOM”) will retain 51% ownership of MCM. MCM has, for more than a decade, provided handling and storage services for grain bulk cargoes at the ports of Casablanca and Jorf Lasfar. The company handles nearly half of all grain bulk imports each year, contributing to an efficient logistics chain for key food supplies in Morocco.
The acquisition of the entire issued share capital of Iberafrica, one of Kenya’s leading IPPs, is part of A.P. Moller Capital’s efforts to invest in infrastructure assets including power and energy in Africa. The acquisition provides A.P. Moller Capital with an effective platform to advance its investment commitments in Kenya. A.P. Moller Capital is planning to invest further in greenfield and brownfield power and energy infrastructure assets in Kenya.
Through the Africa Infrastructure Fund, A.P. Moller Capital is making a sizable investment in a Ports and Logistics platform in West Africa. The platform is an infrastructure ecosystem of ports, trucking, warehouses and rail services, which facilitates effective trade and creates a foundation for local growth. At the outset, the focus will be on investing in and expanding the ecosystem.
Nigeria, Africa’s largest economy and home to Africa’s largest population, has significant power supply challenges. About 55% of the population has no access to electricity, and the biggest hindrance to business in Nigeria is electricity constraints.
The investers include PKA, PensionDanmark, Lægernes Pension, PFA, Danica Pension, SEB Pension och Försäkring, Lærernes Pension, and A.P. Moller Holding. With total commitments in line with the ambition for the Africa Infrastructure Fund, A.P. Moller Capital will therefore conclude the fundraising period in the next few months, after finalising ongoing dialogues, with a few remaining potential investors.
CDC and A.P. Moller Capital wishes to thank the management team of CEC, its shareholders, and the various Zambian governmental representatives and agencies who have supported the transaction. A.P. Moller Capital will continue to look for opportunities to expand its portfolio of investments in Zambia and other African countries in the future.
Kim Fejfer, Managing Partner and CEO, A.P. Moller Capital: “We are pleased and proud to announce that six months after the announcement of our Africa Infrastructure Fund, we have received total commitments of USD 865m from leading investors in Denmark and Sweden. With Danica, Danske Invest and SEB on board, we have increased our capacity to support a sustainable development in Africa through infrastructure investments.”
CEC is a leading Zambian power transmission, distribution and generation company and a major developer of energy infrastructure in Zambia. CEC owns, operates and maintains power transmission as well as generation assets and supplies electricity to customers in Zambia.
On 9 August 2017, A.P. Moller Capital launched The Africa Infrastructure Fund. The Fund will focus on African infrastructure investments – investments that will support sustainable economic growth in the region and deliver attractive returns to its investors. PFA Pension has committed USD 100 million, bringing total commitments from A.P. Moller Holding and the other anchor investors PKA, Pension Denmark and Lægernes Pension (The Medical Doctor’s Pension Fund) to USD 650 million.
The new fund will focus on investments in infrastructure in Africa to support sustainable economic growth in the region while delivering an attractive return to its investors. It will be managed by A.P. Moller Capital, and consists of a team lead by four partners, Kim Fejfer, Lars Reno Jakobsen, Jens Thomassen and Joe Nicklaus Nielsen.
A.P. Møller Capital P/S
1263 Copenhagen K
A.P. Møller Capital P/S
1263 Copenhagen K
A.P. Møller Capital P/S
Al Fattan Currency House 2-1502/1503
United Arab Emirates
A.P. Møller Capital P/S is governed and regulated by the Danish Financial Supervisory Authority as an Alternative Investment Fund Manager. A.P. Møller Capital P/S (DIFC Branch) is regulated by the Dubai Financial Services Authority to provide advice and arrange deals in investments, to support the headquarter in Denmark.
T: +971 55 588 6592
Peter Wernberg Nielsen
T: +45 20 44 93 77
Mika Bildsøe Lassen
T: +45 20 55 26 55