Afrigreen Debt Impact Fund SLP

Subsidy : June 2024

BIO has granted EUR 350K of technical assistance to Afrigreen Debt Impact Fund, a private equity fund focused on solar renewable energy in Sub Saharan Africa.

Amount

€ 350,000.00

Type of investment

Subsidy

Beneficiary locations

Africa:

Investment field

Investment Companies & Funds

Activity

DD.35.113 Production of electricity: solar

Organisation

Afrigreen Debt Impact Fund SLP

Website

https://www.rgreeninvest.com/en/

Domicile

France

More investments in

Afrigreen Debt Impact Fund SLP

Equity € 10,000,000.00 (2023)

The purpose of the Afrigreen Debt Impact Fund is to help accelerate the energy transition in Africa by offering project finance debt to medium-size solar projects which represent the most promising market segment, while being too small for development finance institution and commercial banks.

The Fund offers senior-ranking secured credit instruments (mainly loans) to medium-size solar and electricity storage projects destined to Commercial & Industrial (“C&I”) companies, as well as medium-size utility scale projects in West and Central Africa.

Technical Assistance

The objective is to contribute to the financing of environmental and social capacity building programs for investees/borrowers of the Fund and maximise probability of project closing by co-financing certain due diligence costs incurred by prospects of the Fund.

Expected impact

Around 10 sponsors supported in E&S capacity building (process and staff) including (i) PV supply chain assessment capacity , (ii) E&S assessment
capacity, and (iii) HSE capacity.
Around 5 projects supported in feasibility and bankability studies, namely E&S assessment (mainly biodiversity impact and social impact), technical assessment (mainly quality and bankability of contracts) and legal assessment (bankability of contracts).
Impact KPIs associated with MW of renewable capacity installed, renewable energy produced, tons of CO2 emissions avoided, and litres of fuel avoided