Nairobi-based Anzana Electric Group has secured a $20 million senior secured portfolio debt facility from British International Investment (BII), the UK’s development finance institution, to fund the construction of run-of-river hydropower projects across East, Central, and Southern Africa. The facility is designed to overcome the financing barriers that typically stall small-scale renewable energy projects under 10MW. Anzana expects to deliver 10MW of new distributed baseload generation capacity by 2030, producing over 50 GWh of clean electricity annually, with the first project slated for Zambia.
Key Overview
- Facility Size: $20 million senior secured portfolio debt
- Lender: British International Investment (BII), the UK’s development finance institution
- Borrower: Anzana Electric Group, a Nairobi-based hydropower developer and operator
- Purpose: Construction financing for run-of-river hydropower projects with potential solar hybridization
- Target Regions: East, Central, and Southern Africa; first project in Zambia
- Capacity Target: 10MW of new distributed baseload generation by 2030
- Energy Output: An estimated 50+ GWh of clean electricity annually
- Jobs: Over 500 expected during construction and operations
- Key Backers: Gridworks Development Partners and private American investors
Anzana Electric Group has raised a $20 million senior secured portfolio debt facility from British International Investment (BII) to accelerate the construction of run-of-river hydropower projects across Africa. The financing targets a persistent gap in the continent’s renewable energy landscape: small-scale projects under 10MW that struggle to attract long-term debt despite their potential to expand electricity access in underserved regions.
The portfolio-level facility is structured to allow capital deployment across multiple project companies in various countries, enabling Anzana to move faster than traditional project-by-project financing allows. The first project will be located in Zambia, where the company already operates Zengamina Power, a licensed private utility running a run-of-river hydropower plant on the upper Zambezi River that has served local communities since 2007.
Addressing Africa’s Energy Access Gap
The deal arrives amid a continental push to close Africa’s massive electricity deficit. Roughly 600 million people across sub-Saharan Africa lack access to electricity, a challenge that the World Bank Group and the African Development Bank are tackling through Mission 300, an initiative aiming to connect 300 million people to electricity by 2030. Since its launch in 2024, Mission 300 has already connected 44 million people and secured energy compacts with 30 countries.
BII’s Chris Chijiutomi, Managing Director and Head of Africa, explicitly linked the Anzana facility to this broader effort, stating that the financing supports Mission 300’s goal of helping countries transition to renewable power and deliver clean, reliable energy to millions of households.
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Anzana’s Growing Track Record
Anzana, formerly known as Virunga Power before rebranding in 2024, has evolved from a single-project hydropower developer founded in 2011 into a multi-country renewable energy platform. The company is backed by Gridworks Development Partners, an Africa-focused electricity transmission and distribution investor wholly owned by BII, which made an equity investment of up to $50 million in Anzana in early 2023.
The company’s portfolio spans several countries including Burundi, Zambia, Kenya, Tanzania, Malawi, and the DRC. In February 2025, Anzana closed a landmark $35 million long-term project finance facility with TDB Group for two Songa Energy run-of-river hydropower projects in Burundi, a first-of-its-kind transaction in a country where only about 10% of the population has electricity access. One of those projects, the 1.65 MW Upper Ruvyironza hydropower plant, was completed in April 2025 after a 23-month construction period and inaugurated by President Évariste Ndayishimiye in November 2025. It now supplies 10 GWh of clean baseload electricity to Burundi’s national grid.
In Burundi, Anzana has also partnered with the government through Weza Power, a public-private partnership utility aiming to raise electrification rates from 12% to over 70% by mobilizing over $1.4 billion in investment. The company is additionally planning six run-of-river hydropower projects in Kenya that would deliver 31MW of clean power to rural western and central regions.
An End-to-End Operating Model
What distinguishes Anzana from many renewable energy developers is its vertically integrated approach. The company’s model spans project development, power generation, distribution, and interconnection, serving both community users and commercial and industrial customers. By operating distribution networks with modern grid technologies and pre-paid metering, Anzana aims to minimize energy losses and ensure reliable delivery across the full power value chain.
CEO Brian Kelly described the BII facility as an important milestone in scaling this platform, emphasizing that the company’s focus on strong governance, disciplined execution, and strategic corridor development allows it to deliver power where it is needed most while supporting national government growth objectives.
Portfolio-Level Innovation in Financing
The facility’s structure is notable for the sector. Rather than financing individual projects one at a time, the senior secured portfolio approach enables BII’s capital to flow across Anzana’s pipeline of projects in different countries simultaneously. This reduces the lengthy timelines and high transaction costs that have historically hindered smaller hydropower projects from reaching financial close.
If the model proves successful, Anzana plans to apply the same approach to future pipeline projects, potentially establishing a replicable framework for financing distributed renewable energy at scale across the continent. The portfolio is expected to generate over 500 jobs during construction and operations while expanding electricity access across East, Central, and Southern Africa.
Sources: British International Investment / Pan African Visions / Innovation Village / Renewables Now / Africa Private Equity News / Funds Global MENA / Trade and Development Bank / Gridworks Development Partners / World Bank / Anzana Electric Group
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