星期五, 7月 30, 2021
Home PV Finance Berkeley Energy raises €130 million for second African Energy Fund

Berkeley Energy raises €130 million for second African Energy Fund

Source:PVTECH

Renewables developer Berkeley Energy has raised €130 million (US$157.5 million) in the first close of the Africa Renewable Energy Fund II (AREF II).
The fund, which has a final target of €300 million, will target investments in hydro, wind and solar projects across sub-Saharan Africa, excluding South Africa, and aims to back mid-sized grid-connected projects of between 10-100MW.
Engaged in the development and operation of clean energy projects across emerging markets, Berkeley hopes AREF II will provide clean and accessible energy whilst stimulating local economies through employment opportunities.
AREF II demonstrates that Berkeley’s “technically orientated approach resonates with our investors and makes a material difference for the communities in which we operate,” said managing director Luka Buljan.
The fund’s financing structure incentivises commercial private capital to invest into sub-Saharan Africa and follows the previous deployment of the first AREF, which also invested in renewable energy in the region.
Sub-Saharan Africa’s population rates and GDP is rising, with electricity demand set to more than double by 2040. This requires around US$100 billion in power infrastructure investment, according to the International Energy Agency.
AREF II investors included seven development finance institutions – CDP, CDC, FMO, Proparco, Swedfund, Sustainable Energy Fund for Africa – and the Clean Technology Fund.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Punjab Commission Allows Deviations in Competitive Bidding Process for Solar Projects

The Punjab State Electricity Regulatory Commission (PSERC) has allowed deviations in the guidelines for tariff-based competitive bidding process for grid-connected solar photovoltaic (PV) projects...

Solar Module Manufacturers in Asia Account of 92% of the Global Production: Report

In its latest report, Fraunhofer Institute for Solar Energy Systems (ISE) has stated that manufacturers in Asia accounted for 92% (over 130 GW) of...

First Solar to Set Up a 3.3 GW Thin Film Solar Module Manufacturing Facility in India

First Solar, a U.S.-based manufacturer of solar modules, announced that it would invest $684 million to set up a new, vertically integrated photovoltaic (PV)...

ACME Solar Raises $334 Million in Offshore Green Bonds for 12 Solar Projects

Independent power producer ACME Solar (ACME) has raised around $334 million for 12 of its solar projects through the issuance of offshore green bonds....