Having a track record of leading positions within disruptive businesses, founder and CEO Terje Osmundsen today presented his by now most disruptive company, Empower New Energy.
Text and photo: Lill-Torunn Kilde
– According to the UN sustainable development goals, we need some 25 000 billion NOK every year in investments for saving our future, he said, presenting a slide with the unbelievable number of 25 000 000 000 000 NOK.
His talk was held during Oslo European Green Capital´s conference on clean energy solutions at Skur 13 at Tjuvholmen this morning. The session presented radical and innovative energy solutions coming out of Oslo. Empower New Energy´s mission is to pioneer investments making distributed clean energy affordable in all markets.
– We searched for renewable energy funds with focus on emerging markets and found none. So we started ourselves, says Mr. Osmundsen.
Focus on Africa
Mr. Osmundsen pointed to the fact that there is a huge and growing untapped demand for medium-sized renewables projects. Empower New Energy has so far brought investment equity to renewable solar projects in East and West Africa (Kenya, Ghana, Rwanda and Burundi).
– We are working with the best developers in Africa, to make their projects bankable, and bringing the investment equity to the projects, said Mr. Osmundsen.
Empower New Energy is still open for investors, both private and businesses. The exit is estimated to 8 years. The company is a member of the Norwegian Solar Energy Cluster, who cohosted the event today.