Capton Energy and Enerwhere have forged a groundbreaking agreement, igniting the private commercial and industrial (C&I) solar power market. Kicking off with an initial 25MWp, including the immediate rollout of 9 MW in off-grid solar projects alongside a battery storage facility, the collaborative venture is primed to execute a substantially larger pipeline of captive power projects supporting C&I offtakers across the Middle East and Africa through 2026.
This strategic alliance marks a pivotal moment for the energy transition landscape, blending Capton Energy’s investment prowess and innovative project finance techniques with Enerwhere’s extensive experience in renewable and hybrid energy solutions. The partnership stands poised to address the escalating demand for dependable and sustainable energy solutions within the commercial, industrial, and off-grid sectors, heralding a new era for decarbonization and digitization in the private power market.
Umer Ahmad, Chief Executive and Chief Investment Officer of Capton Energy, expressed enthusiasm, stating: “We are thrilled to unveil our collaboration with Enerwhere, marking a significant milestone for Capton Energy as we introduce a pioneering transaction structure aimed at expediting the deployment of clean energy infrastructure for off-grid environments. This initiative underscores our dedication to propelling the energy transition forward through financial and commercial innovation, setting new industry standards. Through this partnership, our goal is to mitigate carbon emissions, localize power production, and stimulate job creation.”
Alice Cowman, Chief Executive Officer of Enerwhere, echoed Ahmad’s sentiments, stating: “This substantial investment from a partner like Capton represents a significant validation of Enerwhere’s approach and business model, propelling us into the next phase of growth and development. As CEO, I am thrilled to embark on this journey and refocus on our core mission of delivering the most innovative solutions for our clients and partners. I eagerly anticipate reconnecting with them in 2024.”
The joint venture underscores Capton Energy and Enerwhere’s mutual dedication to fostering innovation and sustainability in the energy sector. With a steadfast commitment to delivering a robust pipeline of solar power and battery storage projects, this partnership is well-positioned to provide reliable, efficient, and sustainable energy solutions to the private corporate and industrial markets, paving the way for a greener future.
