While corporate proponents of business involvement in development grapple with models involving philanthropy or partnerships with non-profit organisations, a Texas company believes there is one area in which investments that are purely commercial can make a big difference – giving more of the world’s population access to electricity.

Since it was launched in 2002, Globeleq, a power company, has acquired more than 1,600MW of generation capacity and now has more than 2,400MW in 20 projects in 15 countries. With investments of more than $550m, Globeleq seeks to pursue acquisitions and generate sustainable returns. However, the big difference is that it focuses solely on emerging markets in Africa, Asia and the Americas. “Otherwise, it’s exactly the same business as any other operating power company,” says Bob Hart, chief executive.