Monday, September 21, 2015

First dedicated sub-Saharan African renewable energy fund is now fully capitalized

The African Renewable Energy Fund (AREF), a renewable energy fund focused on sub-Saharan Africa successfully reached USD200 million of committed capital to support small to medium scale projects, with investment at the final close from European Investment Bank (EIB) and the Global Energy Efficiency and Renewable Energy Fund (GEEREF).
The final investor group also includes West African Development Bank (BOAD), Ecowas Bank for Investment and Development (EBID), FMO, Calvert Investments, CDC Group, BIO, OeEB – the Development Bank of Austria, Wallace Global Fund, Sonen Capital. Fund headquartered in Nairobi is managed by Berkeley Energy, a fund manager focused on developing and investing in renewable energy projects in emerging markets. AREF already invested in developing 4 renewable energy projects with an additional pipeline of projects on the way. Read more at http://en.starafrica.com/