Over recent decades, there has been significant focus and investment in power generation to address the need for reliable electricity. However, to create sustainable, efficient and reliable power sectors requires significant and targeted investment in the electricity networks that transmit and distribute that power.
Today, estimates suggest $345 billion of investment is needed in power transmission and distribution by 2040¹ to absorb current and planned power generation.
Gridworks was created as part of the response to this need. We were established in 2019 as a dedicated platform for development and investment in electricity, whether in transmission, distribution or distributed renewable energy.
We are focussed primarily on Africa and backed by an initial commitment of $325 million from CDC Group and the support of the UK Government.
We develop and then invest in critical electricity network infrastructure. This includes utility concessions, public private partnerships, management contracts, rural electrification programmes, isolated grid systems, off-grid to on-grid investments, and utility services companies.
Working with governments, multilateral organisations and other investors, we aim to build on the existing work done by CDC Group across the transmission and distribution sector. Over time, this work will accelerate the delivery of affordable, reliable power to the people and businesses who need it.
Creating a commercially sustainable power sector by improving the continent’s electricity networks won’t happen overnight – with the right approach, patience and commitment we will contribute to the transformation of the sector over the long term for the benefit of all.