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In brief: Camco and EPP to drive renewable energy in conflict-affected countries

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Published: 20 May 2022

Camco Clean Energy and Energy Peace Partners have partnered to expand renewable energy investment in fragile states. Plus, Generation’s new sustainable growth equity fund, and Ananda’s latest fundraising

Camco and EPP have partnered to manage the Peace Renewable Energy Credit Aggregation Fund | Photo by yangphoto on iStock

Impact fund manager Camco Clean Energy has partnered with Energy Peace Partners (EPP) to manage the Peace Renewable Energy Credit (P-REC) Aggregation Fund to expand renewable energy investment in fragile states in sub-Saharan Africa. 

Since 2020, P-REC transactions have unlocked a new stream of private sector capital to support emerging renewable energy projects in the Democratic Republic of the Congo (DRC) and South Sudan.  

The fund is designed to unlock up-front funding for high impact renewable energy projects in countries where political and economic uncertainty is constraining investment and deployment of renewable energy infrastructure, and where lack of access to electricity poses a barrier for sustainable development. 

Geoff Sinclair, managing director, Camco Clean Energy, said: “We’re thrilled to be partnering with Energy Peace Partners as the manager of the P-REC Aggregation Fund. This has real potential to help raise standards of living in conflict-affected states, building a brighter future, today.”

Generation launches its largest growth equity fund

London-headquartered Generation Investment Management has announced the launch of its $1.7bn (€1.6bn) Sustainable Solutions Fund IV which will invest globally in companies and teams “driving the sustainable future”.  

This is Generation’s fourth largest growth equity fund and will invest $50-$150m as active minority investors in high-growth companies that are “shifting industries toward sustainability and responsible innovation at scale”, according to the company.

The fund will invest in companies with proven technologies and mission-driven management teams, offering solutions in three main areas – planetary health, people health and financial inclusion. 

Lila Preston, head of growth equity at Generation Investment Management, said: “We’ve been researching the changes needed for a sustainable future, and investing in pioneering companies driving that transition for over 15 years. Our systems-level view helps us identify industries, companies and entrepreneurs that can scale sustainable solutions globally. We believe this helps us to see value where others don’t, and add value where others can’t.” 

Ananda beats fundraising target for latest impact fund

Ananda Impact Ventures has announced the final close of its fourth Core Impact Fund at €108m, beating its original fundraising target of €75m.

The impact asset manager secured capital commitments from investors including the European Investment Fund, KfW Capital, Investcorp /Tages, Candriam and several family offices.

According to the firm, the successful fundraising reflects investors’ appetite for supporting impact-driven technology startups. Ananda invests in companies at the forefront of scaling social, ecological and climate technology innovation.

Florian Erber, Ananda’s co-founder,believes the success of their fourth fund proves old perceptions of impact investing are outdated. He said: “12 years ago the VC industry thought of us as doing philanthropy. Today, our remarkable growth journey, the examples in our thriving portfolio and the portfolio of other Impact VCs shows that we no longer have to prove the case for impact investing.”

He added: “We’ve enjoyed strong exits with high returns, such as the sale of Company Bike or Arbor Education. At the same time, other companies in our portfolio, like Ororatech or IESO Digital Health, are becoming real global leaders in their field, demonstrating that you can combine impact innovation and leadership with tangible, profitable financial results.”

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