Rolls-Royce invests in German energy start-up
29 June 2021
New company identifies potential in African market
Rolls-Royce is investing in Berlin-based start-up Kowry Energy GmbH, a provider of sustainable and decentralized energy systems.
Kowry said it supports the sustainable expansion of energy infrastructure in Sub-Saharan Africa by combining renewable energy sources such as photovoltaic and battery storage systems.
“The African market for decentralized energy supply offers great potential. The geographical conditions provide an opportunity to build a climate-friendly, local power supply for industrial and community customers that operates with minimum use of fossil fuels.
“As a young company, Kowry Energy can adapt to the realities of the fast-growing African energy market. Rolls-Royce as investor and industry partner provides Kowry Energy with strong positioning in the market. The start-up can rely on our support and know-how in implementing their projects,” said Louise Öfverström, chief financial officer of Power Systems, a Rolls-Royce business unit.
“We believe that solving the climate challenge facing our planet will only succeed with the inclusion of the 600 million people of Sub-Saharan Africa who are living without energy today.
“This requires innovative business-models that enable sustainable energy access with scale and speed. With a scale-based business model and Rolls-Royce Power Systems as our investor we are confident that Kowry Energy will achieve this,” added Kowry founder Ndiarka Mbodji.
In co-operation with local independent power providers and operators, Kowry Energy will supply energy solutions using photovoltaic systems and battery storage for demand of up to 1MW. This minimizes the use of fossil fuels and makes optimal use of the climatic conditions in Africa. Kowry Energy offers project development and design, sourcing equipment and offering customers fully integrated hybrid solutions.
“We are excited to be launching this year in Mali and Nigeria and to see our business model validated by a current projects pipeline of $17 million and growing rapidly, and I look forward to welcoming more investors committed to sustainable energy access in Sub-Saharan Africa,” Mbodji added.