20 April 2023: X-Solar Systems has acquired Sunplugged Energy, one of the leading solar home systems providers in Zimbabwe. From its HQ in Harare, Sunplugged Energy provides clean energy solutions to off-grid households living in rural and peri-urban areas of Zimbabwe.

The Danish-founded cleantech company, X-Solar Systems, has gained a leading position in Kenya with its proprietary-designed solar home system. From its offices in Copenhagen and Nairobi, X-Solar Systems delivers clean energy and connectivity to rural households living without access to reliable electricity as well as solar-powered solutions for commercial and industrial (C&I) projects. By partnering with Sunplugged Energy, the X-Solar Systems Group now employs more than 150 people across Denmark, Kenya and Zimbabwe.

The acquisition of Sunplugged Energy is an important step in X-Solar Systems’ growth strategy. “In Sunplugged Energy we saw the opportunity to expand into Zimbabwe, a highly attractive and high-growing market for solar home systems and C&I, by partnering up with one of the leading players within the industry. Sunplugged Energy has been on an incredible journey in its short lifetime, and we are impressed by the dedication and ambitions of the management team” says Thomas Hansen, CEO of X-Solar Systems. “With the acquisition we are expanding our presence across Sub-Saharan Africa and growing our ability to provide affordable off-grid energy and connectivity to rural households”.

Sunplugged Energy was founded in early 2022 by CEO Fidelis Mashonga as a spin-off from a larger solar energy developer. The company quickly experienced a rapid growth due to the huge demand for reliable electricity solutions in Zimbabwe – a country where half of the population is living off-grid and the national power grid experiences outages up to 22 hours per day.

Fidelis Mashonga will continue as country manager of Zimbabwe. “It is time to take Sunplugged Energy to the next level. In X-Solar Systems, we saw the right partner who shares our values, our ambitions, and our strong focus on social impact. We will continue to provide top quality products and as part of the X-Solar Systems family, we will become even more relevant to our target customers” says Fidelis Mashonga, CEO of Sunplugged Energy.

X-Solar Systems has been assisted by Baker Tilly and DLA Piper as financial and legal advisors.

25 April 2023: Early in 2022, the first-ever Peace Renewable Energy Credit (P-REC) transaction in South Sudan was announced, executed by U.S.-based 3Degrees and the International Organization for Migration (IOM) with support from Energy Peace Partners (EPP). In the agreement, 3Degrees obtained the P-RECs generated from a 700kWp solar plant in IOM’s Humanitarian Hub in Malakal. Block, a global technology company with a focus on financial services, purchased the P-RECs from 3Degrees.

The arrangement enabled IOM to fund the solar electrification of the Malakal Teaching Hospital, the main healthcare facility serving the city of Malakal and the surrounding region.This area was destroyed in the country’s civil war and now houses one of the largest camps for internally displaced persons (IDPs) in South Sudan. The team is pleased to announce that the hospital’s new solar system is now operational and is projected to reduce fuel consumption by at least 85% annually.

On the heels of the successful completion of the Malakal hospital project, 3Degrees, IOM, and EPP collaborated to replicate a second P-REC issuance in South Sudan, in which additional P-RECs from the solar plant in IOM’s Humanitarian Hub in Malakal will support the solar electrification of Bor State Hospital. Block also served as the purchaser of this subsequent batch of P-RECs. Currently the hospital operates with minimal, undependable electricity and this project will ensure a 24/7 power supply for the hospital’s critical care units and enable the hospital to provide reliable, safe services to the community, including gradually opening night services. Bor State Hospital currently relies on four diesel generators that run computers, fans in each of the wards, refrigerators, sterilization materials in the operating room, lights, surgical equipment, and more.

P-RECs are international renewable energy certificates (I-RECs) with a supplementary quality label certifying unique socio-economic co-benefits associated with new renewable energy generation. They are issued from qualifying projects in target countries characterized by high risk of conflict, high vulnerability to climate change and low levels of electrification. P-RECs serve to monetize renewable energy generation from eligible projects in order to unlock private sector capital for high-impact renewable energy projects in fragile, energy-poor countries. EPP developed and is the exclusive issuer of P-RECs.

“This new P-REC transaction demonstrates both the need and potential for innovative solutions like the P-REC to meet the challenges of electricity access in South Sudan, the least electrified country in the world,” said Dave Mozersky, President of Energy Peace Partners. “We are grateful to our partners Block, 3Degrees, and IOM for their commitment, vision and cooperation, and thrilled that this P-REC transaction will support an additional hospital electrification project in Bor.”

“3Degrees has now executed several P-REC transactions, and it is remarkable to see the meaningful impact these projects have on energy-poor, climate-fragile communities,” said Steve McDougal, CEO, 3Degrees. “These two P-REC transactions in South Sudan are helping the hospitals provide safer, more reliable service to their patients – making a true difference in people’s lives. It was a pleasure to collaborate again with Block, Energy Peace Partners, and IOM, and we look forward to supporting more of our customers in their goal of pursuing meaningful renewable energy procurement.”

“As a global community, we must do all we can to build the resilience of the most vulnerable people so they can cope with the impacts of a changing climate and conflict. Environmental sustainability and the energy transition must be at the heart of building durable solutions,” said Amy Pope, Deputy Director General, IOM. “For us, the clean energy transition means transitioning our own facilities to cleaner energy sources and providing displaced people with sustainable energy so they can cook, light their homes and get access to critical health care services. It also means using clean energy as a tool for peace. We are excited to continue our partnership with 3Degrees and Energy Peace Partners that benefits both people and the planet.”

“P-RECs provide Block an opportunity to support high impact clean energy projects that have a clear connection to our purpose of economic empowerment,” said Neil Jorgensen, Global ESG Lead at Block. “We’re thrilled to continue to leverage our renewable energy portfolio to help drive tangible, positive benefits where it is needed the most and we hope to see more private sector support for these types of solarization projects in the future.”

To read more about the largest P-REC transaction in South Sudan that funded Malakal Teaching Hospital solar electrification project, click here.

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About EPP: Energy Peace Partners leverages climate and finance solutions to promote peace in the world’s most fragile regions. Our climate-sensitive approach expands the existing toolkit for peace and development by extending the renewable energy revolution to some of the planet’s most vulnerable populations. We address the intersection of energy poverty, conflict risk and climate vulnerability to demonstrate the peace dividends of clean energy.

About IOM: The International Organization for Migration (IOM) is a related organization of the United Nations system and is the leading intergovernmental organization in the field of migration. IOM is committed to the principle that humane and orderly migration benefits migrants and society. From its roots as an operational logistics agency following the Second World War, it has broadened its scope to become an essential international actor in the field of human mobility, supporting migrants across the world, developing effective responses to the shifting dynamics of migration, and a key source of advice on migration policy and practice. The Organization works in emergency situations, developing the resilience of all people on the move, and particularly those in situations of vulnerability, as well as building capacity within governments to manage all forms and impacts of mobility.

About Block: Block, Inc. (NYSE: SQ) is a global technology company with a focus on financial services. Made up of Square, Cash App, Spiral, TIDAL, and TBD, we build tools to help more people access the economy. Square helps sellers run and grow their businesses with its integrated ecosystem of commerce solutions, business software, and banking services. With Cash App, anyone can easily send, spend, or invest their money in stocks or Bitcoin. Spiral builds and funds free, open-source Bitcoin projects. Artists use TIDAL to help them succeed as entrepreneurs and connect more deeply with fans. TBD is building an open developer platform to make it easier to access Bitcoin and other blockchain technologies without having to go through an institution.

26 April 2023: Ignite Power, a technology-first, UAE-headquartered provider of solar solutions in Africa, announced today the acquisition of Mwezi’s solar solutions portfolio in Kenya. The acquisition will allow Ignite Power to expand its presence in the country, utilizing its proven suite of technologies and standard operating procedures to service Mwezi’s existing portfolio and increase its impact in the region.

Mwezi, a well-known distributor of solar solutions in Kenya, has been a key player in the country’s solar energy sector for several years. The company has deployed over 50,000 solar home systems across Kenya, directly impacting the lives of 250,000 people. Ignite Power’s acquisition of Mwezi’s portfolio is a strategic move aimed at strengthening its position in Kenya’s rapidly growing solar energy market.

“We are thrilled to welcome Mwezi, a truly values-driven company, to the Ignite Power family through the acquisition,” said Yariv Cohen, CEO of Ignite Power. “This strategic move will enable us to leverage our expertise and experience to further expand our impact in the region, while servicing Mwezi’s existing customers and providing them with access to reliable, sustainable, and affordable home electricity.”

Ignite Power’s proven technologies and SOPs have made it a leading provider of solar solutions in Africa, with a strong presence in several countries across the continent. The acquisition of Mwezi’s portfolio will enable Ignite to further enhance its position in Kenya’s solar energy market, expanding its customer base across the country.

This acquisition follows Ignite Power’s recent acquisition of Pawame Kenya, which has been a major player in Kenya’s solar energy sector for several years. Ignite Power has been expanding its reach across Africa through both organic growth and strategic acquisitions, replicating its proven models of operation and in-house technologies to reach extreme cost-efficiency, customer affordability, and impact at scale.

“We are thrilled to see the Mwezi solar solutions portfolio in Kenya now a part of the Ignite Power family,” said Mwezi’s founder and CEO, Mike Sherry. “I am confident that Ignite’s expertise and experience in the solar energy sector will enable them to expand on the work that we have accomplished and continue to provide high-quality services to our customers. We look forward to seeing the positive impact it will have on communities across Kenya.”

“As we continue to grow and expand our presence in Africa, we remain committed to our mission of providing sustainable energy solutions to communities across the continent,” said Cohen. “The acquisition of Mwezi’s solar solutions portfolio and our recent acquisition of Pawame Kenya are just two examples of our commitment to this mission. We look forward to working with our new partners and customers to drive positive change, and create a more sustainable future for all.”

8 May 2023: The project was launched in late 2021 and aimed to establish the company’s remote monitoring and control products and services for solar and pumping systems in the Kenyan market.

As part of the project, marketing and sales measures were implemented by EcoPhi in cooperation with the German Energy Agency (dena). A special focus of the activities was the training of local partners. At a formal opening ceremony, the project was successfully presented to existing partners, customers and stakeholders by CTO Sebastian Zenz in Nairobi.

A solution specifically for the growing solar and water market

The expansion of solar energy and water infrastructure is progressing rapidly in the country. However, solar and pumping systems can only contribute to climate protection and economic development if they are operated sustainably. This is the goal of the company EcoPhi. It offers remote monitoring and digitization solutions specifically for systems in rural regions and harsh environments. EcoPhi systems are characterized by being robust and easy to install, while being able to be used in a wide range of different applications.

Installers, operators and end-users can thus keep an eye on their plants at all times and intervene quickly in the event of problems or carry out remote maintenance without having to travel long distances. This saves time and money and ensures that the plants are operating longer.

In addition, especially in the case of widely distributed plants, the management of the systems poses great challenges for the operators and requires high capacities. Digital solutions can help to operate the plants more efficiently and sustainably.

The EcoPhi systems – modular and versatile

A special advantage of the EcoPhi systems is their modularity and flexibility of use. Thus, the systems can even be used economically in small solar home systems – but also in large and complex installations such as mini-grids or C&I projects.

A closer look at the EcoPhi systems installed in Kenya shows just how versatile and modular EcoPhi’s products and services are. At the beginning of the RES project, the company had not yet implemented any projects in the country. Since then, more than 50 monitoring and control projects have been installed in different areas such as solar energy, pumping stations, refrigerated containers as well as biomass boilers.

This is an important advantage for customers who install and operate different types of plants. Thanks to EcoPhi’s solutions, customers do not have to use different solutions for monitoring and controlling the plants, but can cover this centrally and easily through the EcoPhi platform.

Further expansion of activities in Kenya even after completion of the project

The successful implementation of the project has enabled EcoPhi to establish a solid position in the market of monitoring and control solutions for solar and water systems. The company can now rely on a good customer base and a network of installation and distribution partners.

“We are proud to be an increasingly important part of the Kenyan market and now plan to further expand our presence in the market,” said CTO Sebastian Zenz during the project’s official commissioning ceremony in Nairobi. “The experience and knowledge gained from the project will be used as a basis for our future activities.”

To continue to be successful in the future, EcoPhi strives to constantly improve its services and products through innovative ideas and effective partnerships. In addition to the technical improvement of the products and software, further steps will be taken to expand the network of service partners and distributors in order to reach customers faster and increase the service level.

Kenya is strategically a very interesting market for EcoPhi. In addition to selling products in the market, Kenya is going to become a hub for the company’s activities in East Africa. The possibility of local production is also currently being planned. This will simplify logistical challenges. In addition, the increased value added locally can create jobs and strengthen Kenya as a production location, so that Kenya can become not only a sales market but also a production market for EcoPhi.

The RES project Kenya is being funded as part of the Renewable Energy Solutions Programme of the German Energy Solutions Initiative of the German Federal Ministry of Economic Affairs and Climate Action.

17 May 2023: Shortlist and African Management Institute (AMI) announce the launch of the Energy Access Talent Initiative (EATI), a new £2.5 million collaboration dedicated to training and securing employment in the clean energy sector for over 1,600 African youth across sub-Saharan Africa. The initiative is focused on building a strong, diverse workforce of talented young professionals across Africa to expand access to affordable, reliable, sustainable and modern energy for all.

The new EATI programme is funded with UK aid from the UK government via the Transforming Energy Access (TEA) platform, and builds on the success of Shortlist and AMI’s Off-Grid Talent Initiative (OGTI), also backed by TEA, with support from the University of Cape Town. The OGTI programme ran from 2019-2021 and supported nearly 900 young professionals in over 100 energy companies across 23 African countries. The initiative had a 55% female participation rate with 94% of placements by Shortlist converting to permanent jobs, and 99% of participating companies in AMI’s management programmes reporting improved personnel performance.

“Education is no longer enough to guarantee a job; young people need on-the-job experience. Programs like this bridge the gap between education and real, career-track employment – and renewable energy and climate are poised to create more jobs on the continent than any other sector in the next decade,” said Paul Breloff, CEO of Shortlist.

Lack of skilled talent prepared to manage rapid growth is a significant barrier to scale in the emerging market clean energy sector – a huge, missed opportunity given the potential for Africa’s clean energy companies both to transform the continent’s climate future, and to create hundreds of thousands of jobs for youth.

“AMI and Shortlist have pioneered a practical, proven and scalable solution to talent development for the clean energy sector. The renewed TEA funding will enable us to scale this approach to reach even more young professionals,” said Rebecca Harrison, Co-Founder and CEO of AMI. “We’ve replaced traditional, ineffective hit-and-run training with a coherent approach to upskilling and job placement that will equip and inspire the next generation of African talent to accelerate Africa’s just energy transition,” said Rebecca Harrison, Co-Founder and CEO of AMI.

Working together through EATI, Shortlist and AMI will take a deliberate, youth-centric and gender-equitable approach to upskilling and recruitment for clean energy companies. Shortlist will work with clean energy companies to identify talent gaps. It then addresses these labour shortages by raising awareness and excitement around emerging careers in clean energy through marketing campaigns, and then putting young people with little or no work experience into “last mile” on-the-job experiences”.

AMI will support young people placed by Shortlist with professional skills and work readiness training. The company will also offer practical leadership development programmes for emerging female leaders and middle managers already working in the sector, accelerating career growth and closing the talent gap, especially for under-represented young women.

“We are delighted to be supporting Shortlist and AMI on the next phase of their talent recruitment and training work following an impactful and well received first phase. In EATI, our partners have focussed more on supporting those most in need, increasing impact and value for money of UK aid and integrating their activity into the rest of the Transforming Energy Access programme to ensure that the results are more than the sum of its parts,” said David Aitken, TEA, Programme Director.

To learn more about the programmes visit the following links:

• Shortlist Energy Access Talent Initiative page: https://shortlist.net/talent-for-clean-energy/
• AMI’s Empowering Managers Programme (offered in English or French): https://www.africanmanagers.org/programmes/empowering-managers/
• AMI & University of Cape Town’s Future Female Leaders in Energy Programme: https://www.africanmanagers.org/future-female-leaders-in-energy/

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About the TEA Platform: Transforming Energy Access (TEA), funded by UK aid, is a research and innovation platform supporting the technologies, business models and skills needed to enable an inclusive clean energy transition. TEA works via partnerships to support emerging clean energy generation technologies, productive appliances, smart networks, energy storage and more. It increases access to clean, modern energy services for people and enterprises in sub-Saharan Africa and South Asia, improving their lives, creating jobs and boosting green economic opportunities.

About Shortlist: Shortlist is a talent matching and employability platform focused on two core offerings: Shortlist Search provides executive search services for leading startups and impact organizations in Africa, while our Shortlist Futures team designs and implements youth employment and apprenticeship programs across Africa in partnership with donors, governments, enterprises, and education institutions. These programs span several sectors including off-grid energy, climate technology and digital jobs, and are often paired with a research component to drive further awareness and insights into critical talent needs. Since launching in 2015, Shortlist has worked with over 900 employers globally, placed over 4,000 candidates into jobs in over 30 countries, and screened over 1.5 million candidates. Shortlist is a global team of 45 people, including 40 recruiters, merging best in class recruitment services with technology built-for-purpose in Kenya.

About African Management Institute: AMI enables ambitious businesses and leaders across Africa to thrive, through practical tools and training. We equip leaders with tools to build their business, help companies train their teams and run work readiness programmes for young people starting their careers. AMI’s programmes combine online and mobile tools with interactive experiential workshops and on-the-job practice and support. AMI has trained over 42,000 people in over 39 countries and has offices in Kenya, Rwanda, Senegal, and South Africa, with additional presence in Ghana, Nigeria, Uganda, and Cote’ d’Ivoire. For more information, visit: https://www.africanmanagers.org/.

30 May 2023: The scalable loan instrument, arranged and structured by Citi with participation from leading development finance institutions and commercial lenders, helps expand Kenyans’ access to finance to purchase green, affordable solar systems.

Sun King and Citi have established a first-of-its-kind, bank-led and entirely Kenyan-Shilling-denominated $130 million sustainable securitisation transaction. The transaction leverages Sun King’s existing and future Kenyan customers’ payments for solar products to raise funding for further growth and expansion.

Arranged by Citi and supported by leading development finance institutions and commercial lenders from six countries across the globe, the investment paves the way for future African securitisation deals and diversifies funding for Kenya’s off-grid solar energy sector. Through the proposed transaction, customers’ future payments for solar products bought on credit will be securitised and funded by investors.

Approximately three out of every ten Kenyans live without access to electricity. Many off-grid households devote 5 to 10% of their income to dim, smoky kerosene lanterns or smog-emitting gas generators for light and power. Solar energy offers clean and reliable energy as well as long-term cost savings for homes and businesses, but the upfront equipment cost blocks many Kenyan consumers from transitioning to solar energy.

Sun King designs, distributes, installs and finances solar energy solutions for African and Asian households and businesses who cannot access, rely on or afford traditional electric grid connections. Sun King customers can purchase products using the company’s technology-enabled, pay-as-you-go “Easy Buy” financing service, which breaks payments down into regular, affordable instalments. These payments can be made via mobile money or cash for as little as $0.15 a day. Approximately half of Sun King’s registered pay-as-you-go customers in Kenya are women, the majority of whom access formal financing products for the first time.

Under the securitisation structure, investors are financing the pooled expected future payments from over a million Sun King customers. The structure connects unbanked or underbanked customers to the finance they require to purchase solar assets and provides investors with access to a steady yet underserved market that offers risk-diversified returns.

“Over one billion people live off the reliable electric grid. This number is projected to rise. This securitisation could be key to unlocking the extensive capital needed to fund solar energy initiatives at the scale the climate crisis requires. We applaud Citi for orchestrating this innovative transaction. These trailblazing financial mechanisms can convert the global challenges of energy access, social development and climate action into compelling investment opportunities.” Commented Sun King’s Co-Founder, Anish Thakkar.

Sun King is raising the securitisation funds using its Sustainable Financing Framework, which has received a Second Party Opinion (SPO) from Moody’s Investor Relations. The SPO assesses the framework with a Very Good Sustainable Quality Score (SQS) and highlights its significant contribution to sustainability.

The framework, facilitated by Citi, explains Sun King’s approach to integrating sustainability considerations into specific financial instruments, which facilitate enhanced access to clean energy and contribute to meeting the United Nation’s Sustainable Development Goals.

This securitisation involves participations by both commercial and development finance institutions, including ABSA Kenya, British International Investment, Citi, FMO, Norfund, Standard Bank Kenya and the Trade and Development Bank. Citi served as the sole arranger, primary placement agent, security agent, facility agent, cash manager, sustainability structuring bank and secured accounts bank with Standard Bank Kenya acting as the co-placement agent.

Manolo Falco, Global Co-Head of Investment Banking, at Citi said “Sun King has been an important client for many years and we are pleased to be supporting them with this catalytic transaction. Our unrivalled global network and track record for delivering innovative sustainable finance solutions means we are expertly placed to build local sustainable financial infrastructure from the ground up. This first-of-its-kind deal originated from Citi’s Social Finance division, which supports socially conscious companies globally and was delivered in conjunction with our leading Financing and Securitisations team.”

14 June 2023: Stichting Clean Energy and Energy Inclusion for Africa (CEI Africa) announced its intention to award three results-based financing (RBF) grants for a total of up to USD 7.3M to Kenyan green mini grid (GMG) developers, Renewvia, Kudura and PowerHive, for the creation of approximately 21,110 green mini grid connections in underserved communities in northern and south-western Kenya.

Renewvia Energy Kenya Ltd (Renewvia) was awarded an RBF grant of up to USD 4.2M to unlock approximately 14,000 new connections, providing electricity access to a network of refugee camps in the area of Kakuma, a town in the far northern region of Turkana County. The resulting project, an expansion of their existing generation plant and power lines, promises to be the largest solar mini grid for any community in East Africa, serving a total of 19,000 customers from a 2.4 MW solar power plant with 6 MWh of battery storage.

Renewvia has successfully deployed mini grids on islands in Lake Victoria, in the semi-arid northern areas of Kenya, and all over southern Nigeria, serving over 7,500 customers. They have also developed commercial sites in Kakuma, Kenya, for United Nations High Commissioner for Refugees and the World Food Program.

KUDURA Power East Africa Ltd (KUDURA), an energy utility company operating renewable mini grids serving rural off-grid communities in East Africa, was awarded an RBF grant of up to USD 2.8M to unlock 5,909 connections, also in Turkana County. The company is operating 11 GMG sites in Busia County, serving over 4,000 customers across 16 communities and is currently constructing another 21 mini grids in Turkana. The expansion is co-funded by RVE.SOL S.A. (Portugal) and InfraCo Africa (UK).

PowerHive East Africa Limited was awarded an RBF grant of up to USD 300,000 to unlock approximately 1,202 connections in rural south-western Kenya. PowerHive, a technology venture that partners with utilities and independent power producers to provide access to mini grid electricity for rural homes and businesses, has already installed 20 mini grids with a generation capacity of 890 kW.

CEI Africa was established by KfW on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) in 2021 to improve access to clean energy for rural and peri-urban households and enterprises in Sub-Saharan Africa. CEI Africa is managed by a pioneering consortium of Triple Jump B.V., Persistent Energy and GreenMax Capital Group. Triple Jump is the Foundation Manager, Persistent is the Crowdlending window lead, and GreenMax is the RBF window lead.

Conceptualized as a one-stop-shop for mini grid developers and off-grid solar companies, CEI Africa offers a variety of financing instruments combined with technical assistance. The Foundation’s Crowdlending window provides debt and investment products in collaboration with European crowdlenders, while the Results-based financing window, which offers RBF grants and forgivable loans.

CEI Africa has allocated EUR 21M to support project developers to finance GMGs through RBF, including the provision of technical assistance. Renewvia, Kudura and PowerHive were selected in CEI Africa’s first call for site specific applications. CEI Africa has already expanded its RBF financing of GMGs to include Mali, DRC and Benin. If additional funding becomes available in 2024, further expansion is intended to Sierra Leone, Madagascar and other countries.

“I’m very proud of our Kenyan team’s achievements to date,” said KUDURA’s CEO Vivian Vendeirinho. “Despite a regulatory set-back for our planned scale up in Busia County, our team rallied to turn this set-back into a massive growth opportunity. With close cooperation of the Turkana County Government, we’ve identified a much larger pipeline of rural consumers with a significant social and commercial need for clean energy.”

“The advent of the CEI Africa Kenya funding window was perfect timing for us. The detailed technical support received from the GreenMax and Persistent teams has resulted in a compelling investment case for our next equity round and will push our mini grid business to profitability ahead of our 5-year plans,” added Vendeirinho.

“We are thrilled to partner with CEI Africa to make further progress towards meeting the massive demand for reliable and affordable energy in Kakuma Refugee Camp and Kalobeyei Settlement,” said Renewvia’s Director of African Project Development Douglas Cox. “We look forward to seeing what the highly innovative refugees and host community members in this area do with our electricity.”

“On behalf of CEI Africa, we are delighted to support expansion of energy access in the remote areas of northern and south-western Kenya,” said GreenMax CEO Clifford J. Aron. “Electricity is a cornerstone of economic development and companies like Renewvia, Kudura and PowerHive are on the front line of electrifying underserved counties in Kenya, thus supporting the government’s target of universal electrification.”

The three RBF grant awards are pursuant to fulfillment of certain conditions precedent agreed to between CEI Africa, Renewvia, Kudura and PowerHive, respectively, which includes, among others, the execution of a Grant Agreement. The RBF grant funding will be disbursed upon completion of new electricity connections.

• Bboxx unveils new range of world-class Solar Home Systems (SHS)’s aimed at enabling African consumers to unlock their own potential;
• Globally, more than 750 million people live without access to electricity , and an additional 840 million are connected to an unreliable grid;
• These advanced IoT-enabled systems provide wattage to support cooling appliances, large televisions and greatly enhancing quality of life.

15 June 2023: Bboxx, the data-driven super platform, today announces the launch of its new range of four Solar Home Systems designed to seize the opportunity of new advances in technology to deliver universal energy access in Africa.

The new GPS and IoT-enabled range is designed to further Bboxx’s mission to transform lives and unlock potential by bringing innovative energy solutions to underserved communities worldwide.

Bboxx already positively impacts the lives of 3.5 million people with clean energy in 10 African markets, including Nigeria, Togo, and Rwanda, where it provides access to energy for 10% of households in the country.

Bboxx’s new Solar Home Systems were developed for households and small businesses which require a reliable solution for diverse energy needs. From providing enough power to support life-changing lights, cooling appliances, large televisions and radios for communities in Africa to supporting small businesses in urban areas with weak grids, Bboxx’s new bPower80-240 range can serve a wider range of energy requirements than ever before – advancing Bboxx’s ambition of ending global energy poverty by expanding access to affordable energy to the 750 million people living without1 and the additional 840 million with an unreliable grid.

The four new modular systems offer an improved customer experience through an interactive screen, allowing customers to check remaining credit, and feature state-of-the-art lithium batteries and improved tamper protection. The models are plugged into Bboxx Pulse®, the company’s fully integrated operating system which drives the data-driven super platform, enabling flexible payment plans that adapt to customers’ incomes. Bboxx Pulse processes billions of data points from these devices every day to provide a superior experience for the customer.

Mansoor Hamayun, Co-Founder and Chief Executive Officer of Bboxx, said:

“Our mission at Bboxx goes beyond providing innovative energy products; we are fundamentally committed to ending global energy poverty. Our new product range, with its increased affordability and functionality, allows us to extend our reach and serve more families and small businesses.”

“We understand that energy is not just about powering appliances; it’s about transforming lives and empowering economies. In providing these solutions, we are an active participant in the global effort to uplift communities that have long been underserved.”

“Our ambition to achieve universal energy access is embodied in every product we launch, and with each offering, we are one step closer to making clean, reliable energy accessible to all. Our world-class product range, that we’re launching today, will transform many more lives in the years to come.”

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About Bboxx: Bboxx is a super platform, transforming lives and unlocking potential by providing access to essential products and services across Africa.

Bboxx is championing the economic empowerment of Africa, accelerating the transition to the digital economy, and creating new markets. They are connecting both underserved rural communities and aspiring urban ones with services including clean energy, clean cooking, smartphones, e-mobility and selected financial products, enabling African consumers to unlock their potential.

They offer their customers a highly convenient and affordable way to access life-changing solutions, through last mile logistics and data-powered innovative financing methods. Bboxx has built a fully integrated operating system, Bboxx Pulse®, backed by an extensive on-the-ground distribution network, to offer our services on a pay-as-you-go basis to households, businesses and communities.

Following the successful acquisition of solar energy frontrunner PEG Africa, Bboxx is now positively impacting the lives of more than 3.5 million people in 10 operating markets, directly contributing to 11 of the 17 United Nations Sustainable Development Goals. Bboxx and its group of companies is one of the largest networks in Africa, with over 4,000 staff across Africa and offices in the UK, and Asia.

29 June 2023: The United States Agency for International Development (USAID), through the Power Africa Presidential Initiative, and the African Development Bank, have signed an extension and expansion of their existing Regional Development Objectives Agreement (RDOAG) on the margins of the Africa Energy Forum in Nairobi.

The move deepens the strategic partnership and expands the basis for cooperation in developing innovative and sustainable solutions to combat energy poverty, climate change, and strengthen energy systems in sub-Saharan Africa.

Specifically, the agreement, targets ending energy poverty by 2030; accelerating the Just Energy Transition in Africa; and strengthening the enabling environment for clean energy.

The five-year extension, running through September 2028, paves the way for up to $500 million in future contributions from the United States to further RDOAG’s objectives. To date, about $388 million has been channeled through the RDOAG, including direct support for the African Development Bank-managed Sustainable Energy Fund for Africa (SEFA) and the Bank’s Desert to Power initiative.

The agreement will also enable the partners to provide financial, technical, and operational support to public, private, civil society and other stakeholders, including grants, equity and debt investments, and risk mitigation measures.

During the signing at the Africa Energy Forum, Power Africa’s Acting Coordinator David Thompson highlighted the role of partnerships in accelerating and sustaining the just energy transition. He said: “The importance of our partnership with the AfDB, as evidenced through this agreement, in achieving our shared ambition of universal access to energy cannot be overemphasized. We effectively leverage one another’s strengths to accomplish much more jointly than either institution could do on its own.”

Dr. Daniel Schroth, African Development Bank Director of Renewable Energy and Energy Efficiency, who signed the extension on behalf of the Bank’s Vice President for Power, Energy, Climate and Green Growth, echoed the importance of partnerships. “Power Africa is a long-standing and key partner of the African Development Bank, and a central pillar of our collaboration focuses on mobilizing increased private sector investments, which are quintessential to achieving our joint objectives of universal access to energy and a just energy transition in Africa,” Schroth said.

Activities executed under the expanded agreement will align with the Power Africa Strategic Framework, the Bank Group’s New Deal on Energy for Africa, and Sustainable Development Goal 7, all aiming to secure access to affordable, reliable, sustainable, and modern energy for all.

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About Power Africa: Since 2013, Power Africa has delivered first-time electricity to more than 172 million people across sub-Saharan Africa and connected more than 35 million homes and businesses to on- and off-grid energy solutions by adding 14 gigawatts of capacity. Power Africa officially has over 200 public and private sector partners, including a dozen U.S. government agencies.

10 July 2023: RES4Africa Foundation and the UNDP Rome Center for Climate Action and Energy Transition, joined forces to host the high-level event Renewable Energy Horizons for Africa, in Rome, Italy.

RES4Africa Foundation and the UNDP Rome Center for Climate Action and Energy Transition, joined forces to host the high-level event Renewable Energy Horizons for Africa, in Rome, Italy. The gathering was the occasion to officially launch RES4Africa’s 2023 Flagship Publication, Africa’s Energy Future is Renewable, with the support of Enel Foundation, and was preceded by the 3rd RES4Africa’s International Advisory Board Meeting. In the face of global challenges such as the Covid-19 pandemic, geopolitical tensions, and climate change, the energy sector is undergoing a vast transformation.

The global energy transition is gaining momentum, with global investments in clean energy reaching record highs. Yet renewable energy is still critically underfinanced in Africa, with only 0.6% of global renewable energy investment flowing to Africa in 2021, signaling urgent work ahead. Clean energy will be key to overcoming the continent’s key energy challenges. The report and event underlined the imperative for sustainable development and the role that clean energy can play in delivering energy access, economic growth, and climate resilience. As energy system decisions are urgent, the report states it is more necessary than ever to inform decision-making and make the business case on renewable energy within a rapidly changing energy world.

The event brought together more than 30 prominent figures from the international renewable energy community, including representatives from international organizations, private sector entities, financial institutions, and development actors, to discuss Africa’s clean energy transformation and the pivotal role of renewables in shaping the continent’s future energy pathways.

Arising from the publication’s highlights, discussions underlined that, while global investments in renewables are gaining traction, financing is not flowing to where it is most needed. Redirecting investments and scaling up clean energy financing is vital for Africa to unlock its abundant renewable resources and achieve sustainable growth.

RES4Africa’s 2023 Flagship Publication provides a comprehensive overview of the state of play, emphasizing the cost-effectiveness of renewables, their contribution to energy security, adaptability to remote areas, and socioeconomic development. Participants expressed high expectations for renewables in Africa, underlining how appropriate investments in Africa’s renewable energy sector can lead to socio-economic development, job creation, and improved livelihoods. Such a path, however, cannot be pursued without overcoming investment barriers in Africa’s clean energy value chains, such as grid, storage, and distribution infrastructure. Strategic and innovative partnerships will be key to delivering progress on development pathways.

This occasion also provided the backdrop for the third meeting of RES4Africa’s International Advisory Board, gathering key experts to engage in a strategic and focused in-person discussion on Africa’s clean energy transformation. Finally, RES4Africa Foundation and the UNDP Rome Center reaffirmed the importance of consolidating the synergies between sectorial public and private entities, in order to efficiently boost advancements In the African renewable energy market.

“Through the launch of this year’s Flagship Publication, we embark on a renewed effort in the transformative journey towards Africa’s energy future.”, commented Roberto Vigotti, Secretary General of RES4Africa.

“It is a call to action, a declaration of our collective commitment to harness the power of clean energy for Africa’s progress, through the well-planned and transparent deployment of finance and know-how.” Agostino Inguscio, the representative of UNDP in Italy and the coordinator of the UNDP Rome Centre, further elaborated on the commitment of the UNDP Rome Centre towards facilitating the energy transition in Africa.

“The UNDP Rome Centre is dedicated to promoting renewable energy access, with a strong focus on the African context. We are committed to mobilizing finance and supporting country-level projects that drive economic growth, innovation, and infrastructure development. By working closely with local governments and institutions, private sector, we are breaking down barriers to renewable energy diffusion” said Agostino Inguscio during his speech.

18 July 2023: GOGLA is presenting its Handbook for Governments and Development Partners, Powering Lives and Livelihoods: Scaling Productive Uses of Renewable Energy (PURE) today at an event in Kampala, where together with the Ministry of Energy and Mineral Development (MEMD) of Uganda, the Uganda Solar Energy Association, CREEC, and sector partners, GOGLA will also launch the Uganda Productive Use of Solar Energy Roadmap.

PURE products and services, such as solar-powered irrigation, cooling, agricultural equipment, e-mobility and e-cooking can modernise agriculture, power health facilities, drive green growth and create millions of jobs. They are particularly designed to reach people who are currently hampered by energy poverty, many of whom are extremely vulnerable to climate change. The Handbook is a first-of-its-kind document which details the building blocks needed to develop mature and sustainable PURE markets and proposes specific actions for governments and development partners to accelerate the impact of PURE.

Establishing the building blocks needed to accelerate PURE

With over 70 publications reviewed, 50 interviews with key stakeholders and the collaboration of organizations working within the PURE industry [Efficiency for Access coalition, World Bank / ESMAP and EnDev (SNV)], the Handbook highlights the most impactful actions to advance renewable energy technologies that can generate or increase income for their users:

• Supportive policies and regulations that integrate PURE into national electrification plans, drive stakeholder engagement, catalyze partnerships, and establish quality standards;
• Tailored public and private funding and investment that can support companies’ growth and provide appropriate consumer financing;
• Targeted activities to expand technology adoption, raising awareness and aggregating purchasing power or improving income to address the affordability barrier;
• Capacity building like mentoring and technical assistance for PURE companies to improve business performance;
• Critical elements to build sustainable markets and a responsible industry such as inclusivity and customer protection.

The Handbook has been developed by GOGLA, the global association for the off-grid solar energy industry, with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Union (EU), through the international initiative Water and Energy for Food (WE4F).

Enhancing productive use of renewable energy, country by country

The Uganda Roadmap formally adopted and presented today in Kampala by the Permanent Secretary, Ministry of Energy and Mineral Development, Ms Irene Bateebe, on behalf of the Ugandan Government, will set the path for accelerating the adoption of PURE in the country. It lays out clear actions designed to drive the mechanization of agriculture, enhance enterprise and unlock green jobs. The Government’s endorsement and ownership of the Roadmap exemplifies the high level of political support for PURE, and recognises its potential to rapidly advance green growth and opportunity.

Roadmaps will also be adopted or explored throughout July by the Governments of Ethiopia, Kenya and Rwanda.

"We have partnered with GOGLA and Water and Energy For Food, to develop this Roadmap that will contribute to our goal of access to clean energy, higher food security, powering small enterprises, and boosting income among hard-to-reach populations. Dr. Brian E. Isabirye, Commissioner- Renewable Energy, Ministry of Energy and Mineral Development, Uganda."

"The PURE Handbook is a testament to the collective effort of experts, researchers, policymakers, and practitioners who have contributed their knowledge and insights to this publication. It is my sincere hope that this handbook will inspire and inform governments, development partners, and all stakeholders involved in the pursuit of sustainable energy solutions. Dirk Pauschert, Head of Project, GIZ Water and Energy for Food (WE4F)."

"We think scaling up the deployment of PURE is critical for achieving energy, food, and water security, driving economic development, improving health services and adapting to climate change and we call upon public sector institutions and agencies responsible for energy, agriculture, water, health and environment across sub-Saharan Africa and South Asia, and the development partners engaged in supporting them, to recognize the relevance of the off-grid solar industry to realizing their goals. Patrick K. Tonui, Head of Policy and Regional Strategy, GOGLA."

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About GOGLA: GOGLA is the global association for the off-grid solar energy industry. We are proud to champion one of the world’s most innovative and impactful sectors. Hundreds of millions of people already benefit from affordable, high-quality, clean off-grid solar products and services.

With the right support, our pioneering industry will be able to scale up rapidly to improve the lives of 1 billion people by 2030. To help make this happen, we promote, safeguard, and convene the industry, advocating for enabling policies and increased investment as well as supporting our 200+ members with effective services. For more information, visit: www.gogla.org.

About WE4F: Water and Energy for Food (WE4F) a joint international initiative of the German Federal Ministry for Economic Cooperation and Development (BMZ), the European Union (EU), the Ministry of Foreign Affairs of the Government of the Netherlands, the Norwegian Agency for Development Cooperation (Norad), Sweden through the Swedish International Development Cooperation Agency (Sida), and the U.S. Agency for International Development (USAID).

WE4F, through its Regional Innovation Hubs, provides financial support, technical assistance, and investment facilitation to water-food, energy-food, and water-energy-food innovations.

The supported innovations impact smallholder farmers, helping them unlock missing inputs, finance, technology, and markets. By using these innovations, farmers and food companies can enhance their climate resilience and reduce CO2 emissions.

About CREEC: CREEC’s story started in 2001 as a project part of the Makerere University Faculty of Engineering. 20 years later, the Centre for Research in Energy and Energy Conservation (CREEC) is still pioneering a greener future for renewable energies in Uganda. The centre is currently registered as a not-for-profit organization providing methodological, technical and well-researched approaches for renewable energy interventions. As an advisory body and agent for change, for the past twenty years CREEC has delivered, advocated, and lobbied for her vision to enhance access to modern energies across East Africa. CREEC has continued in their efforts to deliver this mission, by partnering with government organizations, donors, private sector players, individuals and academia representatives, to provide innovative programmes and develop technical expertise through capacity-building activities that foster knowledge sharing and business support for renewable energy businesses. The center is also recognized by the Uganda National Bureau of Standards (UNBS) in accordance with the ISO 17025 quality management system.

About USEA: Uganda Solar Energy Association (USEA) is an independent non-profit association dedicated to facilitating the growth and development of solar energy business in Uganda and the East Africa region.

USEA was formed in 2016 by private sector companies that deal in solar energy business with help from the Ministry of Energy and Rural Electrification Agency. It is registered under section 10 of the Ugandan Societies Act.

3 August 2023: “If it weren’t for the mobile clinic, my son would never have the opportunity to receive postnatal care and vaccinations,” says Karmoi, a resident of northern Kenya. Most of the locals are nomadic herders who depend solely on livestock for their livelihoods. Due to limited resources and the remote nature of their residence, fixed medical institutions are often situated far away from the herders. As a result, many children have never been vaccinated since birth, and many women are unable to access timely pre-pregnancy and post-partum medical check-ups.

However, the advent of mobile clinics has Addressed the predicament. Deqa Mohamed, Wajir East Sub County Health Coordinator, shed light on the features of the mobile clinic, which boasts a team of medical personnel and is stocked with a wide array of medical supplies as well as nutritious food. It is also fully loaded with vaccines and anti-malarial drugs to facilitate prompt immunization of age-appropriate children. To date, the mobile clinic has been deployed in the southern and eastern regions of Wajir. (Source of information: https://www.gavi.org/vaccineswork/great-relief-us-mobile-clinics-reach-nomadic-families-kenyas-northern-wajir-county)

Mohammed also emphasized that, “It is time for countries to embrace the idea of mobile clinics as a means to reach those who cannot travel to healthcare facilities for medical attention.”

In response to problems such as inadequate vaccination for children, untimely routine medical checkups for pregnant women and children in remote areas, and deficiencies in water supply stations and healthcare inoculation facilities, Haier Biomedical has developed solar-powered mobile clinics that occupy a small footprint and can overcome geographic constraints and reach remote mountainous regions, pastoral areas, communities, schools, and other locations to provide comprehensive medical services with high economic efficiency. These mobile clinics can also quickly respond and be deployed in the case of unforeseen circumstances.

The solar mobile clinic is designed with solar direct-drive refrigerators, which ensures the preservation of vaccines at the required temperature of 2°C to 8°C for 7 days, even in the absence of external power sources. This clinic can also be customized according to specific user needs, and configured with a variety of equipment, all pre-set and installed within the clinics, which ensure that the mobile clinics are catered to meet the unique requirements of the targeted healthcare setting. At the same time, the solar mobile clinic is equipped with several cabinets for storage of inoculation swabs, disposable needles, and other medical items. It can also come equipped with UV disinfection and sterilization equipment alongside simple surgical beds, which facilitate simple surgical treatments and delivery assistance. Furthermore, it features independent monitoring and control systems for each operation area, realizing real-time supervision and inspection during inoculation, diagnosis, and treatment. In addition, it is capable of regulating temperature and humidity, which ensures that the clinic’s temperature and humidity can be maintained within the optimal range (18°C to 26°C and 30% to 70%) for sample preservation and testing. Compared to traditional refrigerators, the adoption of an integrated air conditioning unit, which combines refrigeration function and purification function at medical standards, eliminates the need for excessive piping laying, which effectively reduces safety hazards.

The launch of the solar mobile clinic program is Haier Biomedical’s latest endeavor in their commitment to “life-first” and quality growth. The solar mobile clinic will not only provides an organized and compliant solution for the promotion of global healthcare accessibility, but also assist local health departments in implementing preventive vaccinations children’s preventive vaccinations and routine medical checkups for pregnant women and children, as well as provide healthcare access for people in remote areas, ultimately contributing to a better quality of life.

14 August 2023: Solar Frontier Capital Limited (SFC), a wholly-owned subsidiary of African Frontier Capital (Mauritius) LLC (AFC) announced the establishment of a USD 125 million financing vehicle, Brighter Life Tanzania 1 Limited (BLT1).

BLT1 is an off-balance sheet securitization structure that provides the Tanzanian subsidiary of d.light design Inc. (d.light), a leading global innovator of solar-powered transformational products for lowincome families, with flexible working capital, enabling the company to provide consumer financing and make its products universally available and affordable for customers, most of whom live below the poverty line and lack access to reliable power. The facility will finance a range of transformative products that drive quality-of-life improvements, from solar home systems to high-efficiency appliances and smartphones.

BLT1 is a ground-breaking, first-of-its-kind, off-balance-sheet, securitization structure in Tanzania and comes on the heels of d.light celebrating the milestone of transforming the lives of more than 150 million people worldwide with its range of reliable, affordable solar-powered household products.

BLT1 has been structured to provide d.light with local-currency financing (up to the equivalent of USD 125 million in face value of receivables) over a two-year commitment period, giving the company continued access to sustainable and affordable receivable financing for its Tanzanian business.

With AFC’s existing Kenyan securitization structures, Brighter Life Kenya 1 Limited (BLK1) and Brighter Life Kenya 2 Limited (BLK2), this brings the total value of local currency structures financed by AFC to USD 490 million. Together, the structures are expected to directly impact over 7 million lives including over 5 million people with improved access to clean and modern energy who, together, will reduce over 1.2 million metric tons of CO2 emissions ^1.

BLT1 is being partially financed by a USD 30 million senior lending facility provided by Eastern and Southern African Trade and Development Bank Group (TDB Group). AFC acts as the subordinated lender as well as the master servicer and back-up servicer under the transaction and, more generally, as sponsor of the structure.

Commenting on the announcement:

⎯ d.light CEO Nick Imudia said, “This new financing from TDB gives us the extra funding to reach more low-income families and households in Tanzania via our Pay-Go business, in a way that is affordable for our customers and sustainable for our business.

“d.light and our lending partners are long-time pioneers in developing securitized finance as an innovative, scalable financing model for raising equity for off-grid solar that is guaranteed against current and future customer sales. We’ve successfully used the securitization model for several years in Kenya and now we and our partners are expanding it to Tanzania.

d.light’s Imudia continued, “As a scalable method of financing, securitization is an important fiscal tool to help African countries achieve the United Nations’ Sustainable Development Goals for energy access. Expect further expansion of this facility by d.light into other major sub-Saharan African markets during 2023.

“d.light’s distribution and after-sales service network serves some of the most remote and hardest to reach areas of Tanzania,” Imudia explained. “We will continue to grow our distribution footprint to enable more communities to benefit from our range of safe, reliable, and affordable solar-powered products.”

⎯ Michael Awori, CEO of TDB, said, “Access to energy is critical to the sustainable development of the continent, especially for the most vulnerable off-grid communities. As one of the leading renewable energy financiers in the region, we are delighted to extend this second facility to d.light, this time in Tanzania. Globally, in 2022 alone the company reached over 1,677,216 people through PAY-GO model, created close to 2,000 jobs, and averted 1,329,371 tons of CO2 and black carbon emissions with solar replacing kerosene lamps. This is the kind of impactful track record TDB is keen to support.”

⎯ Eric De Moudt, founder and CEO of AFC, remarked that, “We are very happy to announce the launch of our latest social impact securitization, BLT1, which further expands our industry leading off-balance sheet securitization structures into new jurisdictions for d.light and brings the total volume of local currency receivables being financed to almost USD500M.

“These social impact securitizations are helping d.light to bring financial inclusion and access to reliable and clean energy to millions of people while simultaneously helping to ensure a just and equitable energy transition that benefits everyone.”

¹ As per standardized GOGLA metrics (https://www.gogla.org/impact/calculator) and AFC estimates.

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About d.light: Founded in 2007 at Stanford in California, d.light is a global leader in making transformative products available and affordable to low-income families. d.light has sold nearly 30 million products, including solar lanterns, solar home systems, TVs, radios, and smartphones, impacting the lives of over 150 million people. Our vision is to transform the lives of one billion people with sustainable products by 2030. For more information, visit: www.dlight.com.

About TDB: Established in 1985, the Eastern and Southern African Trade and Development Bank (TDB) is a regional development finance institution, with investment grade ratings and assets of USD 8.4bn. TDB serves 25 member states in its region, with the mandate to finance and foster trade, regional economic integration and sustainable development, through trade finance, project and infrastructure finance and asset management.

TDB is part of TDB Group, which also comprises the Trade and Development Fund (TDF), Eastern and Southern African Trade Advisers Limited (ESATAL), TDB Captive Insurance Company (TCI), and the TDB Academy.

About AFC: African Frontier Capital (Mauritius) LLC and its subsidiary companies are a dedicated impact investment group focused on bringing financial inclusion to people living at the bottom of the pyramid in a socially and environmentally sustainable way. For more information, visit: www.africanfrontiercapital.com.

18 August 2023: 600 health clinics across sub-Saharan Africa are able to provide care and treatment to patients outside of daylight hours, thanks to solar-powered lights and off-grid energy systems provided by d.light, the global provider of transformational household products and affordable finance for low-income households and communities in the developing world. As a result, the clinics can extend their operating hours – including for expectant mothers in labour who would otherwise have given birth in darkness.

“Before d.light, we would be looking for torchlight in the middle of the night to deliver babies. We no longer have to go through that stress,” explained Dr Ajayi Olaluwa, Chief Matron at Omatosu Basic Health Centre in the town of Okitipupa in Ondo State, southwest Nigeria.

The World Health Organisation (WHO) estimates that close to one billion people in low- and lower-middleincome countries are served by healthcare facilities without reliable electricity access or with no electricity access at all. According to WHO, 15 percent of healthcare facilities lack any access to electricity in subSaharan Africa, whilst only 50 percent of hospitals in sub-Saharan Africa report reliable energy access.

Lack of electricity is a major barrier to the delivery of quality healthcare services, and one that particularly impacts rural communities across the continent. According to Unicef, the lifetime risk of maternal death ranges from 1 in 5,300 in high income countries to 1 in 49 in low-income countries. For example, in Western Europe, the rate is 1 in 11,000. This rate is drastically and fatally higher in the African continent however: in sub-Saharan Africa the rate is 1 in 41, and Sub-Saharan Africa alone accounted for 70 percent of global maternal deaths in 2020.

Ms Olanrewaju Emilia Olanike, Chief Matron at a primary healthcare centre in the Ife South local government area (LGA) of Osun State in Nigeria, described the impact of the solar lanterns on the clinic and its patients, “In the Olode area we have been experiencing a 10-year power outage, so before today we did not have a power supply. The installation of this alternate power supply means that our clients who were afraid of coming to us in the night have now been coming. It makes our job easier especially during labour and delivery cases at night.”

Commenting on the milestone of 600 clinics powered by d.light, d.light co-founder Ned Tozun said, “I remember early on in d.light’s history, a nurse shared with me that she had already delivered 15 babies with d.light’s products. Before, they had been delivering babies using only dangerous kerosene lanterns, or they would even have to turn pregnant women away if they were in labour in the middle of the night.”

“With d.light’s solar-powered products, expectant mothers no longer have to give birth in darkness. Clinic staff can also admit and care for other patients at night more easily when there’s a safe source of light available. Patients find the light of the d.light lantern comforting when they’re being treated.”

“It’s easy to take for granted the ready availability of something as basic as light in developed countries – including in our hospitals and clinics,” Tozun continued, “But for millions of people worldwide, reliable and safe light is still often out of reach. For rural health clinics in Africa and elsewhere in the developing world, access to artificial light can mean the difference between receiving vital care and treatment or not. When you improve the health and wellbeing of pregnant women and their newborn children, you safeguard the next generation and also the families and communities that depend on these women.”

Since d.light was founded in 2007, the company has transformed the lives of 150 million people worldwide. The majority (55.5 percent) of d.light’s customers live in sub-Saharan Africa, including 45 percent in East Africa. Its range of household products include solar-powered lanterns, cookstoves, solar home systems, TVs, radios, and smartphones, together with its low-cost payment plans that allow customers to pay for their products over time.

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About d.light: Founded in 2007 at Stanford in California, d.light is a global leader in making transformative products available and affordable to low-income families. d.light has sold nearly 30 million products, including solar lanterns, solar home systems, TVs, radios, and smartphones, impacting the lives of over 150 million people. Our vision is to transform the lives of one billion people with sustainable products by 2030. For more information, visit: www.dlight.com.

• Regional integration is key for Africa to tap into its abundant renewable energy resources and fulfil development goals.

4 September 2023: The International Renewable Energy Agency (IRENA) and the African Union Development Agency (AUDA-NEPAD) signed an agreement today aimed at supporting African countries in their efforts to achieve the African Union’s Agenda 2063 and the United Nations Sustainable Development Goal 7 to ensure access to affordable, reliable, sustainable and modern energy for all.

The agreement was signed today by IRENA Director-General Francesco La Camera and AUDA-NEPAD CEO Nardos Bekele-Thomas on the margins of Africa Climate Week in Nairobi.

"Acknowledging that 80% of the global population without access to electricity resides in Sub-Saharan Africa, it is evident that the existing energy infrastructure cannot adequately meet the continent's needs," stated Mr. La Camera. "The creation of a more equitable energy system—one that leverages a diverse mix of Africa’s abundant renewable resources—is dependent upon a more interconnected, flexible and reliable power grid in the region. This partnership serves as a pivotal step towards achieving that objective."

AUDA-NEPAD CEO Ms. Nardos Bekele-Thomas underscored the findings of the Continental Power Systems Masterplan (CMP), designed to provide a strategic roadmap for connecting Africa’s five power pools, emphasising the critical need for immediate and proactive measures in Africa's electricity sector.

She highlighted that, “the current business as usual trajectory falls significantly short of achieving universal electricity access by 2040, necessitating a substantial increase in investments to elevate the continent's installed capacity from 266GW to approximately 1,218GW. To realise this ambitious target, an estimated USD 1.29 trillion in cumulative investments will be essential, potentially culminating in the establishment of a robust continental electricity market valued at USD 136 billion by 2040. It is imperative to take urgent and strategic actions to accomplish these transformative goals."

The continued investments in cross-border transmission infrastructure and a deepening of electricity trade will allow African countries to accelerate their energy expansion and transition by sourcing electricity from a wide range of competitive, clean energy resources, by anchoring on the continent’s five power pools to create Africa’s Single Electricity Market.

Since 2021, IRENA, in partnership with other organisations, has supported AUDA-NEPAD and African stakeholders in developing the CMP through modelling activities and a series of capacity-building activities related to energy planning in the region. The CMP aims to establish a long-term, continent-wide planning process for power generation and transmission that involves all five African power pools. It maps out how to best to utilise the vast renewable energy resources across the continent, supporting national power strategies that consider cross-border interconnections as a vital component.

The next phase of CMP will include a special focus on strengthening the planning processes and accelerating the preparation of a bankable pipeline of priority projects at both the regional and country levels. This brings an opportunity for African countries to align their energy planning processes to a pan-Africa vision and accelerate the realisation of Agenda 2063.

Through this new partnership, IRENA and AUDA-NEPAD will work to enhance the capabilities of African countries and regional organisations through knowledge-based capacity building services, support implementation of the renewable energy projects in the Programme for Infrastructure Development in Africa (PIDA PAP II), and facilitate access for project developers to IRENA’s Climate Investment Platform and Energy Transition Accelerator Financing platform.

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About International Renewable Energy Agency (IRENA): IRENA is the lead intergovernmental agency for the global energy transformation that supports countries in their transition to a sustainable energy future and serves as the principal platform for international co-operation, a centre of excellence, and a repository of policy, technology, resource and financial knowledge on renewable energy. With 169 Members (168 States and the European Union) and 15 additional countries in the accession process and actively engaged, IRENA promotes the widespread adoption and sustainable use of all forms of renewable energy in the pursuit of sustainable development, energy access, energy security and low-carbon economic growth and prosperity.

• Mix of debt and equity investments from investors including EIB, FSD Africa Investments, Jaltech Fund Management and Symbiotics Investments keep plans on track for USD 50m initial close in Q4 2023. Subsequent close of at least USD 100m expected within two years;
• Funding earmarked to help the financing platform scale energy efficiency and captive generation solutions in Sub-Saharan Africa’s commercial and industrial sectors.

6 September 2023: Leading climate and impact fund manager Camco has announced commitments of almost USD 25m in equity and debt funding for Spark Energy Services (Spark), its innovative financing platform supporting energy efficiency and captive solar initiatives in Sub-Saharan Africa’s commercial and industrial (C&I) sector.

Equity commitments have come from specialist development agency FSD Africa Investments (FSDAi), Jaltech Fund Management and Camco, which designed and manages Spark, with the European Investment Bank (EIB) and Symbiotics Investments being amongst a group of lenders providing junior and senior debt to the platform.

Today’s announcement was made during the inaugural Africa Climate Summit being held in Nairobi this week to drive green growth and climate finance solutions for Africa and the rest of the world.

Spark is responding to this challenge by supporting a just energy transition with localised impacts through the deployment of fully financed on-site renewable energy and energy efficiency initiatives among local C&I businesses, with a particular focus on the SME segment. These projects serve to help decarbonise the C&I sector while curbing rising energy expenses and improving the reliability of supply – a critical enabler for green economic development. The platform is doing this by providing its growing network of local project implementation partners with up to 100% upfront financing for the installations and has to date supported eight projects in Kenya and South Africa through an initial USD 3m seed facility.

For investors, Spark provides access to a diversified portfolio of clean energy projects across Africa, offering favourable risk-adjusted returns from a climate-positive investment combined with a strong, transparent and robustly measured ESG and sustainable development impact profile.

Commitments have so far been made for the full equity allocation for Spark’s USD 50m targeted initial close, including USD 3m from UK government-funded FSDAi, USD 2.2m from Jaltech Fund Management and over USD 3m from Camco. EIB is the sole junior lender, having committed USD 10 million in junior debt, with Symbiotics Investments committing USD 5 million in senior debt as part of a senior debt consortium expected to commit up to USD 30m by Q4 2023. Camco is now targeting the close of USD 50m by Q4 2023 and a subsequent close of at least USD 100m within two years.

Adam Fitzwilliam, Director of Spark, said: “With power demand from Sub-Saharan Africa’s C&I sector expected to double between 2020 and 2040, addressing the sector’s emissions growth is a climate imperative. At the same time, the sector is suffering from an expensive, unreliable and polluting power supply that is hampering growth, with limited access to finance meaning very few SMEs have the necessary upfront capital to invest in clean energy solutions.

“Camco designed Spark to respond to these challenges and support green growth on the continent and today’s announcement is a clear demonstration of our investors’ confidence in the platform. We are thrilled to announce a strong set of partners despite a challenging broader investment climate.”

Thomas Östros, European Investment Bank Vice President, said: “Ensuring that African industry and business can accelerate investment to cut energy bills, harness renewable energy and reduce carbon emissions is crucial for delivering climate action in Africa. As highlighted at the African Climate Summit this week, the European Investment Bank is pleased to support Spark’s visionary engagement that mobilises private capital to accelerate business-led climate investment.”

Today’s announcement by UK-headquartered Camco comes after the UK government announced GBP 49m (~USD 62m) worth of new projects to fight climate change in Africa during Africa Climate Summit this week, including through UK-backed FSDAi’s investment in Spark.

Andrew Mitchell, UK Minister for Development and Africa, said: “The climate finance projects we announced demonstrate the strength of our commitment to Africa’s green future. UK leadership is determined to unlock the funding needed internationally to drive forward the green agenda. Our ambitions can only be realised through partnership and cooperation with Africa and the international community. We are stronger together – and we go far when we go together.”

Anne-Marie Chidzero, Chief Investment Officer, FSDAi, said: “This investment, part of a package of investments totalling USD 19.5m which we are announcing this week, shows our determination to invest in solutions that deliver for both people and planet by bridging the gaps in current financing structures and so enabling investment to flow to the parts of the green economy where it is most needed.

“Spark’s innovative financing platform is a great example of this. By addressing the lack of suitable financing for sustainable energy sources for C&I consumers, it will contribute to lower greenhouse gas emissions and improved climate resilience as well as economic growth.”

Thomas Varela, Symbiotics Investments Senior Investment Analyst, Clean Energy, said: “This transaction exemplifies Symbiotics Investments’ approach to clean energy investment, as we thrive to push capital where it usually doesn’t flow. Our funding for Spark will bolster the expansion of local developers, typically SMEs, who often face challenges in accessing the necessary capital to scale their operations. This is particularly pertinent for energy efficiency projects backed by Spark—a segment that continues to be underfunded despite its significant potential for climate mitigation.”

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About Camco: Camco is a specialist climate and impact fund manager, leading the transition in emerging markets. We offer clean, secure investments, pairing the conscience of a development bank with the agility of a private company. Camco is an Accredited Entity of the Green Climate Fund and is authorised and regulated by the UK Financial Conduct Authority. The company has offices in Accra, Auckland, Helsinki, Johannesburg, London, Nairobi, Sydney and Toronto. For more information, visit: https://www.camco.fm/.

About Spark Energy Services: Spark Energy Services (Spark) is an innovative finance platform created by Camco to support the deployment of captive generation and energy efficiency solutions in Africa’s C&I sector. For more information, visit: https://www.camco.fm/spark.

About European Investment Bank: The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

EIB Global is the EIB Group’s specialised arm dedicated to increasing the impact of international partnerships and development finance. EIB Global is designed to foster strong, focused partnership within Team Europe, alongside fellow development finance institutions, and civil society. EIB Global brings the Group closer to local people, companies and institutions through our offices across the world.

About FSD Africa Investments: FSD Africa Investments (FSDAi) is the investment arm of FSD Africa, a UK International Development-funded regional programme, based in Kenya, that operates in over 30 countries to make finance work for Africa’s future. FSDAi invests in novel financial instruments, facilities and intermediaries to support of policy objectives and accelerate the role of finance in Africa’s green economic growth. FSDAi, a private company with shareholders including FSD Africa and the UK’s FCDO, employs diverse investment instruments while embracing considerable risk. FSDAi bridges funding gaps by supporting novel financial solutions for transformative change in Africa’s financial markets to deliver better-quality jobs and economic opportunities, equitable access to basic services, reduction of human vulnerability and inequity, and environmental benefits. For more information, visit: https://fsdafrica.org/our-work/fsdai/.

About Symbiotics Investments: Symbiotics is the leading market access platform for impact investing, dedicated to private markets in emerging and frontier economies. The group offers investment, asset management and capacity building services. Since 2005, Symbiotics Investments has originated over 7,500 investments representing more than USD 9.4 billion for 575 companies in 95 countries. For more information, visit: https://symbioticsgroup.com/.

About Jaltech Fund Management: Founded in 2010, Jaltech is a boutique alternative investment fund manager, managing over ZAR 1.7bn (~USD 90m) of retail investors’ capital. Jaltech’s team is made up of entrepreneurs and financial professionals with a wealth of knowledge and experience in managing alternative investments. For more information, visit: www.jaltech.co.za.

8 September 2023: GreenMax Capital Group, a specialised advisory and clean energy fund management firm, and First City Monument Bank (FCMB), a leading financial institution in Nigeria, have unveiled a loan product designed to support small business owners in acquiring solar refrigeration and other energy-efficient equipment through its Green4Access (G4A) platform. The partnership was unveiled at the Africa Climate Summit in Nairobi, Kenya. It aims to assist small business owners in Nigeria looking to reduce their carbon footprint while cutting energy costs. This initiative represents a significant step towards promoting sustainable development in Africa, highlighting the importance of private sector involvement in tackling climate change.

The G4A platform is a tool designed to reduce the risks local financial institutions face when financing energy access projects. With the support of CLASP and the IKEA Foundation, G4A offers a physical Cash Deposit Fund (CDF) that covers up to 20% of the loss incurred across a portfolio of energy access loans. The primary goal of the pilot phase of G4A is to increase the participation of local financial institutions in financing off-grid energy investments. This platform provides a unique opportunity for financial institutions to invest in energy access projects without worrying too much about the risk involved.

GreenMax and FCMB are set to pilot Nigeria’s first G4A-supported loan portfolio. The primary objective of this partnership is to provide financing directly to micro, small and medium-sized enterprises (MSMEs) in Nigeria, purchasing solar refrigeration, solar water pumping, and solar generators as an alternative to diesel units. The G4A-backed FCMB loans will eventually be offered to other pre-approved vendors of productive energy-efficient equipment. The partnership will work with the sustainable cooling technology company Koolboks to support the sale of 3,000 solar refrigerators in Nigeria through its G4A CDF placed with FCMB to support these MSMEs. These refrigerators will primarily serve women-owned businesses, enabling them to store their products longer to increase profitability.

G4A has been developed as a closed-end fund worth $50M, utilising at least 18 times that amount in energy access investments. G4A will provide a Cash Deposit Fund to a partner Financial Institution (FI), which will then leverage Five(5) times its value in investment loans. By placing just $50M in risk mitigation facilities with partner FIs over a 12-year fund cycle, we can stimulate almost $1B in investment. G4A is committed to supporting the attainment of SDGs 1, 3, 5, 7, and 8. It is anticipated to result in the installation of a total of 2.03 million off-grid energy systems with a combined capacity of 179 MW. This includes over 830,000 Solar Home Systems, 400 mini-grids that serve 85,600 households, 750,000 agricultural productive use systems, and 4,500 healthcare solar installations.

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About GreenMax: GreenMax Capital Group is a highly specialised advisory and fund management firm devoted solely to advancing the clean energy sector in emerging markets.

About FCMB: First City Monument Bank (FCMB) is a member of the FCMB Group Plc. The Bank is committed to fostering inclusive and sustainable growth within its communities, and it aims to build a supportive ecosystem rooted in Africa, connecting people, capital, and markets.

18 September 2023: SolarAid is a UK-based, pioneering international charity tackling poverty and climate change by providing access to clean, safe solar lights in underserved rural communities in sub-Saharan Africa. Through its social enterprise, they are developing innovative enterprise programmes for solar energy distribution to help progress universal energy access.

In recognising the need for urgent action and with a focus on reaching the poorest and most vulnerable with clean and safe energy, Light a Village was first launched in 2021 in an area where 97% of people live in extreme poverty. The aim was to test new models for distributing and maintaining solar lighting in remote, off-grid rural Malawi. The second phase which began in 2023 builds on the success of phase one, greatly increasing the number of homes serviced from 500 to 2500, and proved it was possible to install 1000 solar home systems every 10 days.

High Level SDG Summit is taking place in September and this year extra attention is turned towards SDG7, access to affordable, reliable, sustainable and modern energy for all, as it has been reviewed by the High Level Political Forum (HLPF). Nearly 590 million people in sub-Saharan Africa are currently lacking access to electricity and it is estimated that by 2030, 560 million will still be without electricity. To achieve full access by 2030, 100 million people must be connected each year.

Energy poverty forces millions to use toxic, polluting lighting sources such as kerosene lamps, paraffin candles and grass fire to see after dark. It hinders development, preventing people from working or studying after dark and countless fire related accidents are happening across the continent.

Light a Village applies an game-changing ‘energy as a service model’, meaning customers simply pay the utility provider for the electricity they use which results in instant energy access at an affordable, flexible rate for the lower income communities of sub-Saharan Africa. This approach differs significantly from how energy access issues have been tackled across rural Africa for the last decade, whereby, in order to access basic levels of electricity, customers have had to purchase the systems.

The project which was funded by a combination of generous donations, and matched by the Turner Kirk Trust, has now lit up 2500 homes in the area, and is already recording energy access rates of up to 99% of rural households within focused geographies, as well as high payment and usage rates, exceeding 89%.

John Keane, CEO at SolarAid says, “The clock is ticking and current solutions will not reach the hardest-to-reach within the time limit of 2030 set by the UN Sustainable Development Goals. This model demonstrates that it is possible to achieve universal access to energy within a short time frame, even within one of the poorest, most remote, communities in the world.”

Kenedy Buleya, who lives in Tambalasajiwa Village and had his solar home system installed in April 2023 says, “It was like magic. We were all so happy and excited to finally have light in our home. It was a beautiful moment for all of us. I felt so happy and proud to have this opportunity at last.. We spent the whole evening studying and doing homework with my children. It was the first time they have ever been able to do this in our home.”

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About SolarAid: Established in 2006, SolarAid is a UK based, pioneering international charity tackling poverty and climate change by providing access to clean, safe solar lights in underserved rural communities in sub-Saharan Africa. Through its social enterprise, they are developing innovative enterprise programmes for solar energy distribution to help progress universal energy access. For more information, visit: http://solar-aid.org.

19 September 2023: Africa’s first blended finance facility for mini-grids, CrossBoundary Access, announced $10 million in new funding commitments from the African Development Bank (AfDB) Sustainable Energy Fund for Africa (SEFA).

This investment adds to the $25 million raised from ARCH Emerging Markets Partners Limited, Bank of America, and Microsoft Climate Innovation Fund in June last year to invest in CrossBoundary Access’ near-term pipeline of solar-powered mini-grids.

CrossBoundary Access will deploy a total of $150 million over the next three years to bring clean energy to one million people in Africa. The mini-grids combine solar and batteries to provide 24/7 grid-quality power to households and businesses. This initiative will enable individual local residential and small business subscribers to access renewable electricity for the first time. These solar-powered mini-grids will help bridge the gap by bringing clean electricity to rural areas of Africa that do not presently have access to electricity.

According to the International Energy Agency (IEA), the solar mini-grid sector needs $187 billion to achieve universal energy access by 2030. CrossBoundary Access believes project finance is key to unlocking the long-term, infrastructure-type capital required for the mini-grid sector. CrossBoundary Access first pioneered its blended project finance structure in 2019 with funding from the Rockefeller Foundation, Ceniarth, DOEN Foundation, Shell Foundation, and UK Aid.

According to the IEA, nearly 580 million people in Africa do not have access to electricity. This puts a brake on economic growth, productive investment, job creation, and poverty reduction. Solar mini-grids provide a solution to this issue, unlocking the potential of those living without electricity. CrossBoundary Access’ blended finance approach creates a new model for funding rural electrification in Africa, bringing renewable electricity to one million people once the target $150 million is fully deployed.

Lynne Wesonga, Associate Director, CrossBoundary Access, says, “CrossBoundary Access is proud to partner with SEFA, AFDB to bring clean energy to people in rural Africa. This $10 million investment is a testament to the growing maturity of the mini-grid sector and its ability to attract impact-driven institutional capital. Our blended finance approach coupled with support from our partners will be fundamental in unlocking the capital needed to bridge the gap for those who do not presently have access to electricity.”

João Cunha, Manager of SEFA, AfDB, says, “We are thrilled to partner with CrossBoundary Access to deliver on our common vision of mini-grids as a bankable asset class. SEFA’s patient capital investment will go a long way towards demonstrating a viable project finance model, attracting more commercial financiers and scaling-up access to renewable electricity in the African continent.”

Gabriel Davies, Managing Director and co-founder of CrossBoundary Access, says, “This is another crucial step for CrossBoundary Access towards unlocking the private and public capital needed to scale the mini-grid sector. We look forward to mobilizing this investment to bring the projects in our pipeline to life and provide power to African homes and businesses through these distributed renewable assets.”

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About CrossBoundary Access: CrossBoundary Access is the first blended finance facility for mini-grids in Africa, which are small solar-storage grids that bring electricity to rural communities. By using blended finance and an innovative project financing structure, CrossBoundary Access unlocks capital for mini-grids with a mission to bring electricity for the first time to more than 1 million people. CrossBoundary Access is a direct investment platform of the CrossBoundary Group. For more information, visit: https://www.crossboundary.com/energy-access/.

28 September 2023: Gaia Impact, an impact investment advisory firm that launched a coalition in March last year with Capital Croissance, Schneider Electric, Capelan, and Investisseurs & Partenaires (I&P), has achieved its first closing target of €40 million for the Gaia Energy Impact Fund II (GEIF II).

GEIF II, a fund meeting stringent impact criteria related to Article 9 of the SFDR regulation, aims to finance and support startups and SMEs operating across the entire value chain of decentralized renewable energies, leveraging Gaia Impact’s expertise. The previous investment vehicle, Gaia Impact Fund SAS (“Fund 1”), invested in around a dozen companies, primarily in Sub-Saharan Africa, including Osmosun, which recently successfully went public on Euronext Growth®.

Following the same investment thesis, GEIF II is poised to invest in seed, Series A, and Series B stages, in equity and quasi-equity, with ticket sizes ranging from €500,000 to €5 million. The fund aims to invest in approximately twenty companies, with around 85% of them active in Sub-Saharan Africa.

GEIF II investments will be made in the sectors of decarbonized energy access, productive use of energy, electric mobility, new energies, and enabling technologies. They are expected to provide improved energy access to 4 million people, create and support 20,000 jobs, and avoid the emission of 4 million tons of CO2.

Capital Croissance, exclusively advised by the Gaia Impact team, is the fund manager of Gaia Energy Impact Fund II, while Schneider Electric and the family office Capelan are the two cornerstone investors of the fund. I&P, a specialist in private equity investment in Africa for 20 years, is a strategic partner of the fund, thanks to its local presence and experience in Africa.

The Gaia Impact team not only provides financial support to its investments but also positions itself as a patient and engaged partner alongside entrepreneurs, advising them on strategic decisions and participating in business structuring. Schneider Electric and I&P will contribute to supporting the investments in their respective areas of expertise.

GEIF II aims for a final closing of €80 million by the first half of 2024. During the summer, GEIF II made its first investment of $1 million in Surechill, a company based in Kenya that has developed technology revolutionizing medical and productive refrigeration.

Hélène Demaegt, Founder and President of Gaia Impact, commented on this first closing, saying, “We sincerely thank our partners for making the Gaia Impact adventure even more ambitious. Thanks to them, our action for the energy transition in Africa is taking on a new dimension.”

Eric Neuplanche, Founder and President of Capital Croissance, added, “We have been impressed by the achievements and high professionalism of the Gaia Impact team since 2017, and even more so by the strong social, societal, and environmental ambition of this impact fund. It replaces polluting energy with decarbonized energy and provides access to energy for 4 million people. The entire Capital Croissance team is proud and highly motivated to be associated with the Gaia Impact team, I&P, and Schneider Electric in a fund project that reconciles economic returns, social impact, and environmental impact.”

Jérémy Hajdenberg, co-CEO of I&P, emphasized, “I&P is proud to engage with Gaia Impact on this fundamental project, addressing both energy and SME financing issues. Beyond its participation in Investment Committees and governance, I&P will provide its expertise on ESG and impact and its network in Sub-Saharan Africa, built over more than 20 years of impact investment in Sub-Saharan Africa.”

Gilles Vermot Desroches, SVP Corporate Citizenship at Schneider Electric, stated, “Schneider Electric has been active for more than 10 years in supporting access to electricity, especially through its impact investment activity. We believe that this new coalition brings together the best assets to accelerate our impact in Africa. Schneider Electric will make its team’s expertise available for this project.”

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About Gaia Impact: Gaia Impact is an impact investment advisory firm that complies with the directives related to Article 9 of the SFDR regulation and holds the status of a mission-driven company. We are committed to driving the energy transition by investing in small and medium-sized enterprises (SMEs) that produce decarbonized energy or enable direct access to renewable energies in emerging countries, primarily in Sub-Saharan Africa. Our mission is to promote the development of clean and affordable energy to stimulate economic growth and reduce inequalities. Gaia Impact has established a specific process aimed at measuring and managing its impact, based on the measurement of ESG (Environmental, Social, and Governance) performance, impact, and efficiency.

About Schneider Electric: Schneider’s purpose is to empower all to make the most of our energy and resources, bridging progress and sustainability for all. We call this Life Is On. Our mission is to be your digital partner for Sustainability and Efficiency. We drive digital transformation by integrating world-leading process and energy technologies, endpoint to cloud connecting products, controls, software, and services, across the entire lifecycle, enabling integrated company management, for homes, buildings, data centers, infrastructure, and industries. We are the most local of global companies. We are advocates of open standards and partnership ecosystems that are passionate about our shared Meaningful Purpose, Inclusive and Empowered values.

About Capital Croissance: Backed by a community of 400 private investors and renowned institutional investors, Capital Croissance is a Private Equity management company authorized by the French Financial Markets Authority (AMF) with approximately €700 million in assets under management. They manage entrepreneur-focused funds that invest in privately held French SMEs and ETIs through equity investments during restructuring operations.

About Capelan: Capelan is a French family holding company based in Aix-en-Provence that supports and invests in projects that prioritize the long-term interests of both humans and nature.

About I&P: Investisseurs & Partenaires (I&P) is a pioneering impact investment group, dedicated to financing and supporting entrepreneurs in Africa. Since its creation in 2002, I&P has supported more than 250 companies operating in various sectors, based in Sub-Saharan Africa, and finances at least 50 more SMEs each year. I&P’s team is spread over 10 sites in Africa (Burkina Faso, Cameroon, Ivory Coast, Ghana, Kenya, Madagascar, Mali, Niger, Senegal, and Uganda) as well as in France and the United States (Washington DC). It counts more than 160 people specializing in investment, impact, and more generally in supporting African businesses.