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        AFRICA RENEWABLE ENERGY FUND

        Signature(s)

        Amount
        € 14,772,224.68
        Sector(s)
        Services : € 14,772,224.68
        Signature date(s)
        14/09/2015 : € 14,772,224.68
        Other links
        Related public register
        03/09/2015 - Environmental and Social Data Sheet (ESDS) - AFRICA RENEWABLE ENERGY FUND

        Summary sheet

        Release date
        1 April 2014
        Status
        Reference
        Signed | 14/09/2015
        20130673
        Project name
        Promoter - financial intermediary
        AFRICA RENEWABLE ENERGY FUND
        The Fund will be managed by its General Partner, Africa Renewable Energy General Partner L.P., and by its manager Berkeley Energy Africa Limited, both based in Mauritius. Both the General Partner and the Manager belong to the Berkeley Energy group, established in 2007 for the purpose of investing into renewable energy infrastructure in emerging markets.
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        EUR 15 million
        EUR 180 million
        Location
        Sector(s)
        Description
        Objectives

        The operation concerns a participation in the Africa Renewable Energy Fund, a closed-end private equity fund established for the purpose of making equity and quasi-equity investments in renewable energy projects across sub-Saharan Africa (excluding South Africa). Within this sector, the Fund plans to focus on small hydro, wind and solar projects, whilst remaining open to opportunities in geothermal, stranded gas and captive biomass technologies.

        The Fund plans to make between 8 and 12 investments in renewable energy projects throughout sub-Saharan Africa (excluding South Africa), targeting controlling positions in medium size projects in all development stages, with an energy output between 5 and 50 MW.

        Environmental aspects
        Procurement

        The Fund’s operational guidelines will provide for environmental and social due diligence of all projects, according to guidelines acceptable to the EIB.

        The Fund will be required to ensure that implementation of the underlying projects is done in accordance with the EIB Guide to Procurement.

        Comments

        n/a

        Related documents
        03/09/2015 - Environmental and Social Data Sheet (ESDS) - AFRICA RENEWABLE ENERGY FUND
        Other links

        Disclaimer

        Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
        They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

        Documents

        Environmental and Social Data Sheet (ESDS) - AFRICA RENEWABLE ENERGY FUND
        Publication Date
        3 Sep 2015
        Document language
        English
        Main Topic
        Lending
        Document Number
        54356530
        Document Focus
        Environmental Information
        Document Type
        Environmental and Social Data Sheet (ESDS)
        Project Number
        20130673
        Sector(s)
        Services
        Regions
        Africa, Caribbean, Pacific countries + OCT
        Countries
        Regional - Africa
        Publicly available
        Download now
        or Link to source
        Link to source
        Related public register
        03/09/2015 - Environmental and Social Data Sheet (ESDS) - AFRICA RENEWABLE ENERGY FUND
        Other links
        Summary sheet
        AFRICA RENEWABLE ENERGY FUND
        Data sheet
        AFRICA RENEWABLE ENERGY FUND

        General enquiries and comments

        The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
        Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
        Alternatively, the EIB can be contacted through its external offices.
        Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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        Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

        Complaints mechanism

        Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

        Zero tolerance against fraud and corruption

        The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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