(Ecofin Agency) - Janus Capital, the investment arm of the Janus Continental Group, is investing $13 million in the renewable energy storage company, Highview Enterprise Limited, in return for a significant undisclosed stake in its capital. This transaction was carried out in collaboration with the Japanese industrial group Sumitomo Heavy Industries and the firm TSK.
“The investment will tackle the renewable energy storage gap that currently exists across Africa, where nearly 600 million people live without access to electricity,” says Janus Continental Group, a conglomerate with businesses in the Energy, Hospitality, and Real Estate in Africa and Europe.
JCG's commitment to the energy sector in Africa is part of its program to develop energy infrastructure in underserved areas of the continent. The group estimates that the low access and power shortages in the Great Lakes and Southern Africa regions are the results of an infrastructure deficit of about $108 billion.
As part of this investment, Highview Enterprise Limited will deploy its energy storage technology in key Janus markets in sub-Saharan Africa. This will strengthen Janus’s footprint in Africa's energy sector and the provision of sustainable energy solutions for businesses and individuals in its key markets in Zambia, Kenya, Uganda, and Mozambique.