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Signature(s)

Amount
€ 14,772,224.68
Sector(s)
Services : € 14,772,224.68
Signature date(s)
14/09/2015 : € 14,772,224.68
Link to source

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

Link to source
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
Main Topic
Lending
Document Number
54356530
Document Focus
Environmental Information
Project Number
20130673
Sector(s)
Countries
Publicly available
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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 Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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