African Renewable Energy Fund Begins with $100M
The African Renewable Energy Fund (AREF), a dedicated renewable energy fund focused on Sub-Saharan Africa, closed with $100 million of committed capital to support small- to medium-scale independent power producers (IPPs).
The fund, which will be headquartered in Nairobi, is targeting a final close of US $200 million within the next 12 months to be invested in grid-connected development stage renewable energy projects including small hydro, wind, geothermal, solar, biomass and waste gas.
AREF will be managed by Berkeley Energy Africa Limited, a fund manager focused on developing and investing in renewable energy projects in emerging markets. The fund will target IPPs with an ideal size of between 5 and 50 MW and a commitment per project of between US $10 million and US $30 million, with the capacity to source further funding from co-investors where necessary for a larger investment.
Africa Development Bank is the fund’s lead sponsor, bringing $65 million in an equity investment package.
Why bring buildings online? What information can operations teams glean from real-time data that they can’t just get from the monthly data provided by utility companies? Click to learn more.
- Essential Guide to Lighting Retrofits and Upgrades
- Trends in Energy Management: Where Should Your Next Investment Be?
- How to Use Lean Tools to Cash In On Environmental and Energy Savings
- Integrated Building Optimization
- Six Essential Steps to Drive Effective Energy Management
- Building Energy Intelligence
- Smart Companies Utilize Integrated Energy Solutions
- Top 3 Reasons to Calculate Your Environmental Footprint
- Alarms Management: The Future is Now
- 2014 Environmental Leader Product and Project Awards
- Cut Costs and Improve Facility Operations with Energy Data
- Energy Procurement Strategies for Winter 2014 and 2015
- Energy Efficiency Requires Engineering Efficiency
- Integrated Building Optimization: A Crucial Convergence of Demand-side and Supply-Side Energy Management Strategies
- Driving Productivity and Profit with Industrial Energy Management