Denham International Power and Themis have joined forces to create a new platform for investing in natural gas and renewable power generation assets in Africa.

The two firms will establish the Africa Power Investment Platform with the aim of investing $250 million in equity across the region. The move will build on Denham’s position as an investor and developer of natural gas-fired and renewable power generation assets in Africa, and will also leverage Themis’ experience in developing and financing some of Africa’s most significant infrastructure and power projects over the last decade.

The team behind the investment platform will be headquartered in Morocco through the incorporation of a new company, Neo Themis.

“As far as Africa goes, the Themis team brings an unparalleled combination of development and finance experience, local and cross-border relationships, strong ties with lenders, a substantial target pipeline and execution track record to Denham,” said Scott Mackin, Head of Denham’s International Power Team. “We’ve already built up a strong track record of delivery in Africa, and with this new venture we are poised to become leaders in this space.”

Themis is actively developing around 400 MW of capacity across Africa, including the 44 MW Singrobo hydropower project in the Ivory Coast. It is also targeting the development of over 1 GW of gas-fired and renewable projects in the medium term.