Warning: Undefined property: DOMElement::$tagName in /home/thecoeng/public_html/wp-content/plugins/accelerated-mobile-pages/includes/vendor/amp/includes/sanitizers/class-amp-tag-and-attribute-sanitizer.php on line 855
Warning: Undefined property: DOMElement::$tagName in /home/thecoeng/public_html/wp-content/plugins/accelerated-mobile-pages/includes/vendor/amp/includes/sanitizers/class-amp-tag-and-attribute-sanitizer.php on line 855
Warning: Undefined property: DOMElement::$tagName in /home/thecoeng/public_html/wp-content/plugins/accelerated-mobile-pages/includes/vendor/amp/includes/sanitizers/class-amp-tag-and-attribute-sanitizer.php on line 855
Warning: Undefined property: DOMElement::$tagName in /home/thecoeng/public_html/wp-content/plugins/accelerated-mobile-pages/includes/vendor/amp/includes/sanitizers/class-amp-tag-and-attribute-sanitizer.php on line 855
Warning: Undefined property: DOMElement::$tagName in /home/thecoeng/public_html/wp-content/plugins/accelerated-mobile-pages/includes/vendor/amp/includes/sanitizers/class-amp-tag-and-attribute-sanitizer.php on line 855
Warning: Undefined property: DOMElement::$tagName in /home/thecoeng/public_html/wp-content/plugins/accelerated-mobile-pages/includes/vendor/amp/includes/sanitizers/class-amp-tag-and-attribute-sanitizer.php on line 855
Warning: Undefined property: DOMElement::$tagName in
/home/thecoeng/public_html/wp-content/plugins/accelerated-mobile-pages/includes/vendor/amp/includes/sanitizers/class-amp-style-sanitizer.php on line
457 Warning: Undefined property: DOMElement::$tagName in
/home/thecoeng/public_html/wp-content/plugins/accelerated-mobile-pages/includes/vendor/amp/includes/sanitizers/class-amp-tag-and-attribute-sanitizer.php on line
855 Warning: Undefined property: DOMElement::$tagName in
/home/thecoeng/public_html/wp-content/plugins/accelerated-mobile-pages/includes/vendor/amp/includes/sanitizers/class-amp-tag-and-attribute-sanitizer.php on line
855 Warning: Undefined property: DOMElement::$tagName in
/home/thecoeng/public_html/wp-content/plugins/accelerated-mobile-pages/includes/vendor/amp/includes/sanitizers/class-amp-tag-and-attribute-sanitizer.php on line
855 Warning: Undefined property: DOMElement::$tagName in
/home/thecoeng/public_html/wp-content/plugins/accelerated-mobile-pages/includes/vendor/amp/includes/sanitizers/class-amp-tag-and-attribute-sanitizer.php on line
855 Warning: Undefined property: DOMElement::$tagName in
/home/thecoeng/public_html/wp-content/plugins/accelerated-mobile-pages/includes/vendor/amp/includes/sanitizers/class-amp-tag-and-attribute-sanitizer.php on line
855 Warning: Undefined property: DOMElement::$tagName in
/home/thecoeng/public_html/wp-content/plugins/accelerated-mobile-pages/includes/vendor/amp/includes/sanitizers/class-amp-tag-and-attribute-sanitizer.php on line
855 Warning: Undefined property: DOMElement::$tagName in
/home/thecoeng/public_html/wp-content/plugins/accelerated-mobile-pages/includes/vendor/amp/includes/sanitizers/class-amp-tag-and-attribute-sanitizer.php on line
855 Warning: Undefined property: DOMElement::$tagName in
/home/thecoeng/public_html/wp-content/plugins/accelerated-mobile-pages/includes/vendor/amp/includes/sanitizers/class-amp-tag-and-attribute-sanitizer.php on line
855 News Africa Renewable Energy Fund II secures €130 million first close
Africa Renewable Energy Fund II secures €130 million first close
The Africa Renewable Energy Fund II has achieved its first close at €130 million, following a joint investment of €17.5 million from The Sustainable Energy Fund for Africa and the Climate Technology Fund through the African Development Bank
AREF II, a successor to the original Fund, is a 10-year closed-ended renewable energy Private Equity Fund with a $300 million target capitalization. The Africa Renewable Energy Fund II, managed by Berkeley Energy, invests in early-stage renewable energy projects, thereby not only de-risking the most uncertain phase of power projects, but also promoting increased green baseload in Africa’s generation mix.
The Sustainable Energy Fund for Africa and the Climate Technology Fund will each contribute roughly €8.7 million to mobilize private-sector investment into Africa’s renewable energy sector. The Sustainable Energy Fund for Africa will also contribute financing to the AREF II Project Support Facility, which funds technical assistance and early-stage project support to improve bankability.
Other investors include the U.K’s CDC Group, Italy’s CDP, the Netherlands Development Finance Company (FMO) and SwedFund.
“We are proud to be associated with Berkeley Energy and other like-minded investors, and look forward to AREF’s continued success and leadership in promoting sustainable power development on the continent,” said Dr. Kevin Kariuki, the African Development Bank’s Vice President for Power, Energy, Climate and Green Growth.
In 2012, the African Development Bank selected Berkeley Energy, a seasoned fund manager of clean energy projects in global emerging markets to set up AREF. AREF II has a sharper strategic focus than its predecessor on “green baseload” projects that will deliver firm and dispatchable power to African power systems through hydro, solar, wind and battery storage technologies.
Recent Posts
Emirates Reconnects Nigeria to the World with Flights Resumption Emirates, one of the world's leading…
Accolades As Financial Times Ranks Moniepoint As Africa's Fastest Growing Financial Firm Again Moniepoint Inc,…
Over 100 Beneficiaries Get N20m Start-up Kits from FirstBank, Rotary By Grace Alegba The First…
Revealed! How Much Data An Average Nigerian Uses Monthly In Nigeria, the amount of money…
#We Are Equal: Oluremi Tinubu Advocates Enhanced Socio-Economic Inclusion for Girls, Women The First Lady…
Reduce Your Ticket Prices for Nigerian Travellers, Keyamo Tells Air France-KLM The Minister of Aviation…