Gemcorp Capital are excited to announce the launch of Osprey Renewables Africa Ltd. (“Osprey”), a clean energy generation and investment company based in Nairobi, Kenya. Osprey is wholly-owned by funds managed by Gemcorp Capital, an emerging markets-focused asset manager headquartered in London.

Osprey’s mission is to invest in utility-scale renewable energy projects to deliver well-priced, reliable energy to support the region’s green industrialisation. We intend to achieve this by developing energy offtake to both public utilities and private customers, tapping into ongoing strides by the Government of Kenya to liberalise the national electricity market.

To kickstart this mission, Osprey will provide local oversight for the significant stake in Lake Turkana Wind Power (“LTWP”),which Gemcorp acquired in 2023, together with expansion rights. LTWP is Africa’s largest operational wind farm and in 2023 supplied c.11% of the electricity demand to the Kenyan grid.

Additionally, the Osprey team is leading efforts to develop a hybrid project that will materially augment generation adjacent to the LTWP site through a combination of wind, solar and battery technology. Backed by Gemcorp, Osprey seeks to continue investment into this hybrid project and other transformational renewable energy projects across East Africa.

Furthermore, Osprey is building partnerships across a range of industries that require access to proven, cost-effective and reliable sources of renewable energy. As we fulfill those requirements, these partnerships will foster creation of local employment, encourage follow-on investments in green value chains and support economic growth in Kenya and the greater East Africa region.

Osprey is led by a dedicated team of experienced industry professionals based in Nairobi, Kenya, with close support from the Gemcorp Group.

Commenting on the launch of Osprey, Atanas Bostandjiev, Gemcorp Group Founder and CEO stated, “Gemcorp is pleased to launch Osprey Renewables. We look forward to leveraging our investment in Lake Turkana to make similarly compelling investments and to building partnerships to support the development of green industry in the region. We are also proud to have with us an experienced and empowered team based in Nairobi, which further illustrates Gemcorp’s commitment to investing in East Africa and positions us well to take advantage of the exciting investment opportunities that the region has to offer.”

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About Gemcorp Capital

Gemcorp Capital, is an emerging markets-focused asset manager headquartered in London. Its mission is to realise the vast investment opportunities found in emerging markets. This is achieved through the provision of transformational capital to growth- focused corporates and sovereign entities. Gemcorp was founded in 2014 and has since made c.$8bn in credit and equity investments since inception, with a particular focus on Africa.