Africa currently has an average electrification rate of 50%, leaving some 600 million people without access to reliable power. The projects form part of a wider initiative to halve that number by 2030.
Swedfund and IFU have made commitments of $44m to Sturdee Energy, a South African independent power producer which develops renewable energy projects and related infrastructure across Southern Africa.
Plus: EAAIF makes first Asia investment in Pakistan | Davidson Kempner and Nature Infrastructure Capital acquire renewables project development business
Atradius DSB, Lendahand and Carabus have joined forces to launch a new financing model, offering European retail investors full guarantees on their investments into social impact projects in emerging markets.
The fund, which is Africa’s first structured debt vehicle focused on energy efficiency solutions, invests into early-stage businesses that are working on boosting climate resilience on the continent.
Impact fund manager Gaia highlights the challenges facing the transition to clean energy in sub-Saharan Africa in the absence of a viable secondary market.
The French fund is betting on clean energy infrastructure development in sub-Saharan Africa, which has one of the lowest electrification rates in the world.
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