Element Power Solar and Ariya Capital Sign Partnership to Develop Renewable Energy Projects in Africa.
High-value strategy in renewable energy plants will benefit growing local economies.
Portland, OR April 17, 2012
Element Power Solar, the global renewable energy developer, and Ariya Capital, the UK- and Botswana-based private equity firm, have signed a new partnership agreement to identify, construct and operate renewable energy projects throughout the African continent.
A global player in the solar energy field, Element Power Solar, will act as a technical advisor to Ariya Capital in the selection of energy projects in Africa, while assisting the latter to implement its high-value investment strategy.
Fast growing industrial and commercial areas in Africa, where traditional power sources are scarce and expensive, can benefit from solar power supplies and provide good returns on investment.
Raimund Grube, COO of Element Power Solar, stated:
"The new partnership will leverage Element Power Solar's international expertise in developing, constructing and operating solar projects and opening new markets where solar resource and prevailing power prices present strong investment opportunities "
The technical expertise of Element Power Solar combined with Ariya Capital's access to African development opportunities and additional investment capital , provide a sound base for a relationship that will permit both partners to help provide sustainable and renewable energy throughout the continent while benefitting from investments in that market.
Herta von Stiegel CEO of Ariya commented:
"We will be working closely with Element Power Solar on new projects in selected African countries. There is tremendous scope for clean solar power on the continent and our partnership will contribute towards addressing the energy security and emission reduction issues in the regions where we will invest."
About Element Power Solar (http://www.elpowersolar.com)
Element Power Solar is a unit of Element Power focusing on the global opportunities in PV solar. Element Power Solar has an extensive portfolio of solar projects with 77 MWp of solar projects developed, built and already put in operation and over 2,200 MW of projects in development in Europe, North America, Latin America, Africa and South East Asia. Element Power Solar is based in Portland Oregon, with offices in Madrid, London, Verona, Charlottesville, Santiago and Mexico City.
Press contact: Stefania Toscano +1 503 416 0833 - stefania(dot)toscano(at)elpower(dot)com
About Ariya Capital Group (http://www.ariyacapital.com)
Ariya Capital is a private equity and financial services firm focusing on energy investments in Africa. The firm operates from London, Gaborone and the Channel Islands and is developing clean and renewable energy projects in sub-Saharan Africa as well as creating sustainable agricultural investment opportunities.
Press contact: Jonathan Shillington +44 20 7932 1850 - jonathan(dot)shillington(at)grayling(dot)com