Fund Solutions

Impact Manager Bolsters African Energy Fund

Climate and impact fund manager Camco has unveiled a new technical assistance facility (TAF) for its REPP 2 debt fund, aiming to accelerate investments in the African power grid. Launched with support from the Norwegian Agency for Development (Norad), which provided half of the facility’s US$10 million target, the TAF supports a new market development focus for Camco, complementing its investment activities to deliver broader transformational impacts. The facility will focus on three pillars: small and medium-sized enterprise (SME) growth and project development support; gender equity; and enabling environment and knowledge mobilisation. “The support the REPP 2 TAF will provide is critical to the scaling up of companies in this sector, thereby developing a vibrant renewable energy market in Sub-Saharan Africa,” said Ieva Indriunaite, Policy and Partnerships Manager at Camco. “Norad understands everything we want to achieve and the critical role of the TAF in supporting SMEs, and the just development of the decentralised renewable energy sector in Africa. We are extremely thankful for its catalytic funding.” Camco launched REPP 2 in 2015 as a blended finance vehicle, with goals to accelerate Sub-Saharan Africa’s transition to a sustainable development pathway by providing flexible capital to small-scale, decentralised renewable energy projects and developers. Camco originally planned to raise US$1.6 billion for electrification projects via the fund, but subsequently presented it as a US$250 million facility in 2023, as it secured US$50 million in junior equity from the Green Climate Fund (GCF). REPP 2 builds on the legacy of the US$120 million Renewable Energy Performance Platform (REPP), which is managed by Camco and fully funded by the UK’s Foreign, Commonwealth and Development Office.

The practical information hub for asset owners looking to invest successfully and sustainably for the long term. As best practice evolves, we will share the news, insights and data to guide asset owners on their individual journey to ESG integration.

Copyright © 2024 ESG Investor Ltd. Company No. 12893343. ESG Investor Ltd, Fox Court, 14 Grays Inn Road, London, WC1X 8HN

To Top