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/