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    Reference: 20130673
    Release date: 1 April 2014

    Promoter – Financial Intermediary

    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.

    Location

    Description

    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.

    Objectives

    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.

    Comments

    n/a

    Sector(s)

    • Services - Financial and insurance activities

    Proposed EIB finance (Approximate amount)

    EUR 15 million

    Total cost (Approximate amount)

    EUR 180 million

    Environmental aspects

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

    Procurement

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

    Status

    Signed - 14/09/2015

    Disclaimer

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

    Related tags

    Regional - Africa Services