About Us

 

Corporate Overview

Joule Africa is engaged in the development and operation of sustainable energy projects across Africa with offices in London, Freetown, Yaounde and Port Louis.

Joule Africa is currently developing renewable energy assets in Sierra Leone and Cameroon, whilst simultaneously seeking to assist with the development of further projects on behalf of Governments throughout sub-Saharan Africa.

Joule Africa puts sustainable development and transparency at the heart of its business practice. The company works closely with all of its stakeholders to create infrastructure assets that will generate long-term value. The organisation is dedicated to working closely with host Governments to help deliver projects that complement existing plans for social and economic development.

Through the development and operation of sustainable energy assets, Joule Africa is committed to significantly increasing access to energy for the nations in which it is needed most, a fundamental factor in any country’s ability to develop.

Our Approach

Energy is an essential requirement for the continued growth of any economy. However, in sub-Saharan Africa, 70% of the population has no access to electricity. Joule Africa is dedicated to combatting this barrier to economic advancement by developing key energy assets in under-served African regions.

Joule Africa recognises that long-term success will only be possible if all stakeholders benefit; as such, sustainable development and transparency for the benefit of all of our stakeholders are at the heart of our business practice. We believe that positive social development, environmental stewardship and close consultation with local communities should sit at the forefront of any development.

We believe that positive investment in local communities and a sensitive approach to the environment are the best way to ensure a positive, long-term return for every stakeholder in the project.

Positive Social Impact

Joule Africa is committed to ensuring that any plans for social development are carried out in conjunction with local organisations with proven expertise. These strategic partnerships help achieve needs-based responses to pertinent social issues with the maximum level of impact.

Joule Africa is committed to realising positive social change alongside the communities in and around which it works.

Joule Africa is also dedicated to stimulating local economic growth by hiring local labour and purchasing local materials wherever possible.

Open Communication

Transparency and open consultation are at the forefront of all of our engagement with the community, as well as our government partners, observed through strict adherence to IFC Performance Standards. This includes, but is not limited to: regular consultation with community leaders, facilitation of focus groups at both village and district level; and support for local cultural activities.

Joule Africa is committed to ensuring that the communities with which we work gain a sense of informed involvement in the development process.

Environmental Stewardship

Environmental stewardship is essential to the long-term sustainability of any major infrastructure development.

Environmental & Social Impact Assessments are conducted for all projects in accordance with both the World Bank Operational Policies and the IFC Performance Standards based upon the Equator Principles. These international standards are at the core of Joule Africa's stewardship policy, aiming to not just meet, but to exceed them wherever possible.

 
 
 

Board of Directors

Andrew Cavaghan

Founder and Executive Chairman

Andrew co-founded Joule Africa in 2011, since when he has been leading the development of the 143 MW Bumbuna Phase II hydro-electric power project in Sierra Leone. Andrew has six years hands on experience of infrastructure and power project development, in addition to ten years experience in corporate finance and private equity.

As Founder and Executive Chairman for Joule Africa, Andrew manages the corporate finance aspect of the business and focuses on the longer term business plan for Joule Africa.

Previously, Andrew was a Director at the UK based private equity firm Octopus Investments. He was part of the original investment team whose performance helped increase funds under management from $30m to over $1bn in 2009 when he left. During his time at Octopus, Andrew was responsible for numerous middle market buy-outs, realising an IRR of over 50% over 5 years. Earlier, Andrew was part of the founding team at London Seed Capital, an early stage venture capital fund owned by OneLondon/Greater London Enterprise.

He holds a BA Hons in Philosophy from University College London, and is a qualified Barrister in the UK.

Kevin Clark

Director

Kevin co-founded Joule Africa in 2011, acting principally as an advisor to the executive team on technical and legal matters. Kevin is co-founder and CEO of Joule Management, a partner organisation to Joule Africa, where he oversees all aspects of the firm's hydroelectric plants in Latin America.

Kevin is also currently a General Partner at Integrity Partners, where he has played leading roles in the firm’s investments since 2000. Prior to joining Integrity Partners, Kevin co-founded Silicon Edge Law Group, an intellectual property law firm. Earlier, Kevin worked as an engineer and patent attorney for Qualcomm.

Kevin holds a B.S. and M.S. in electrical engineering and computer science from the University of California, and a J.D. from Stanford Law School where he graduated Order of the Coif.

Mark Green

Founder and President

Mark co-founded Joule Africa in 2011 having been working in Sierra Leone since 2008.

As Founder and President of Joule Africa, Mark is responsible for key stakeholder relationships and new project origination, as well as overseeing Joule's 485MW KPEP hydro-electric power project in Cameroon.

Prior to working in Sierra Leone, Mark co-founded a property investment and development company operating in the UK and USA with over $20m of development completed. Previously, Mark worked in the strategy team at Accenture and as the Head of International Business Development for retail financial services conglomerate CPP PLC.

Mark holds a BA Hons in Theology from Birmingham University.

Paul Kunert

Chief Executive

Paul was appointed Chief Executive of Joule Africa in April 2017, having joined the company in September 2016 as Chief Operating Officer. Paul has overall responsibility for the development of Bumbuna II and for the day-to-day management of the business.

Paul has 20 years experience in project finance, of which 17 years has been spent in developing, financing and managing power generation and distribution projects in Africa, with the Commonwealth Development Corporation (now CDC), Actis and Globeleq.

Leading Globeleq’s business development activities in Africa, he saw six projects with a combined capacity of 1GW added to Globeleq’s majority owned and operated asset base over six years, and until 2013 oversaw asset management and operations at all Globeleq’s facilities in Africa.

Paul also lived and worked for four years in Tanzania, as Chief Executive of Songas Limited, an integrated gas-to-power project supplying about one third of the country’s electricity. He led the business to successful completion of construction, an immediate expansion and into commercial operations.

He has led, managed and been involved in development or acquisition of numerous projects in Africa, including in Tanzania, South Africa, Kenya, Uganda, Cote d’Ivoire, Ghana, Cameroon and Nigeria.

Paul is a member of the Institute of Chartered Accountants in England and Wales and holds a BSc (Honours) in Economics and Politics from Bath University.

Greg Newman

Director

Greg co-founded Joule Africa in 2011 and is also a co-founder of Joule Management. He travels regularly between the US, UK, Latin America, and Africa.

In 1999 Greg co-founded Integrity Partners, a seed stage venture capital firm, where he is currently a General Partner. Integrity Partners was the first investor in Baidu (NASDAQ: BIDU) where Greg served on the Board of Directors until taking the company public in 2005. Prior to Integrity Partners, Greg was part of the founding team at C2B Technologies, subsequently acquired by Inktomi and later Yahoo! Previously, he was on the founding team at Macromedia, subsequently acquired by Adobe.

Greg has over twenty years of executive leadership experience creating shareholder value at Fortune 500 companies including Oracle and Apple. He currently serves as a director for several charitable organisations.

David Edward

Director

,David spent most of his working career as an underwriter in the Lloyd’s insurance market. He was a founding partner and director of Ascot Underwriting Limited, a company that was taken from start-up in 2001 to a very successful sale to AIG in 2008.

David is now involved in numerous start-up companies in non-executive directorship and advisory roles, assisting these companies during their development.

In addition David brings experience and expertise in risk assessment and management as well as providing advice on Joule’s insurance arrangements.

 
 

Advisory Board

Ken Costa

Ken Costa is Chairman of Ken Costa Strategic. He was previously Chairman of Lazard International. Before joining Lazard he was Chairman of EMEA at UBS Investment Bank. He has over 30 years experience of mergers and acquisitions in the City.

Ken read law and philosophy at Witwatersrand University in South Africa. He later studied law and theology at the University of Cambridge. He is highly active in a number of charitable and faith-based organisations.

Mr Costa is the Gresham Professor of Commerce, where he has recently completed a series of Gresham lectures on “Vision and Values in a Volatile World”.

General Lord Richard Dannatt

Lord Dannatt is the former Chief of the General Staff and the incumbent Constable of the Tower of London. He has also served as the Commander-in-Chief, Land Forces; and the Commander-in-Chief of the Allied Rapid Reaction Corps, among many other positions.

In addition to his considerable experience in geopolitical and logistical matters, he has direct experience of Sierra Leone, both professionally and via his status as a patron of the charity, Street Child of Sierra Leone.

Philip Green

Philip Green is the Non-Executive Chairman of Baker Corp in the United States, the Senior Independent Non-Executive Director of Carillion PLC, and an advisor to David Cameron on corporate responsibility.

Previously he was the Chief Executive of United Utilities, the UK’s largest listed water company. Before joining United Utilities he served as CEO of P&O Nedlloyd, Chief Operating Officer at Reuters Group PLC, and Chief Operating Officer at DHL for Europe and Africa.

Philip is also involved in numerous charitable activities. He currently serves as Chairman of Sentebale, a charity set up by Prince Harry in Lesotho, and is a Patron of Hope Through Action.

Lord David Triesman

Lord Triesman is the former UK Parliamentary Under-Secretary in the Foreign and Commonwealth Office with responsibility for Africa under Tony Blair. Among his other responsibilities, he is now Chairman of the Board of Advisors of the boutique merchant bank, Templewood, whose investors and clients have a strategic interest in Africa.

Lord Triesman maintains close relationships with a number of heads of state in Africa and brings an understanding of the political issues involved in progressing projects of this nature.