AfriRen seeks €30 million for sustainable projects

Africa Renewables (AfriRen), an international renewable energy trading firm headquartered in London, is looking to raise €30 million in a new round of fundraising.

The capital, raised through qualified investors, will help fund a number of sustainable schemes throughout West Africa. The first project, a Ghana-based energy trading project, will require an investment of €5 million.

This inaugural project will produce woodchips from redundant rubber trees, before shipping them to Europe where they will be burned in power plants and businesses to generate renewable electricity.

AfriRen's CEO Jean-Francois Guillon says: 'We are seeking strategic investors in London and internationally who have a track record and deep understanding of investment in Africa. We have already had interest from a number of private equity firms and the current investment climate seems to be positive.'