A major capital increase for Eranove boosts the pan-African industrial group’s growth capacity

Abidjan, August 09, 2021 – Pan-African industrial group Eranove, a leading player in public utilities management and power and water production in Africa, is pleased to announce a new capital investment by the newly formed ECP Power & Water Holding, driven by its major shareholder Emerging Capital Partners (ECP), A.P. Moller Capital, a fund manager specialising in the infrastructure sector and developing markets, and DEG and IFU, the German and Danish development finance institutions serving the private sector in developing countries. This transaction provides a growth lever for the financing and acceleration of Eranove’s development in Africa. The group is committed to increasing access to water, sanitation and electricity with sustainable and responsible services that meet the challenges of Africa’s climate transition and economic development.

The incorporation of ECP Power & Water Holding and its subsequent capital investment in Eranove demonstrate the robustness of the pan-African industrial group’s business model with a first capital injection of €40 million. This transaction and the long-term support of its new shareholder will help to pursue and step up the project financing and development, with services geared to the constraints and needs of users and public authorities alike.
Eranove has been operating in Africa for more than 60 years and has consistently proven its capacity for building long-term public-private partnerships that benefit people. Bringing together local, African and international expertise they provide appropriate solutions tailored to the situation in each country, while respecting the environmental and social challenges that are key to sustainable development.

This growth model is based on a distinctive range of skills, spanning both public service contracting and independent production, and resulted in Eranove achieving a turnover of €615 million in 2020, despite an economic context weakened by the global Covid-19 pandemic.

Marc Albérola, CEO of the Eranove Group, thanked all shareholders for their vote of confidence in the Group’s ability to respond effectively to the challenges of delivering access to essential services such as electricity, drinking water and sanitation across the continent.