Beyond the Grid Solar Fund

Debt : October 2017

BTGSF is a 5-year closed-end investment fund that provides loans to solar companies in Sub-Saharan Africa.

Amount

€ 4,175,007.50

Type of investment

Debt

Development impacts

  • Local economic growth
  • Financial inclusion
  • Access to basic services & goods
  • Fight against climate change and preservation of natural resources

Beneficiary locations

Sub-Saharan Africa: Burkina Faso, Côte d'Ivoire, Ghana, Kenya, Nigeria, Rwanda, Tanzania, Uganda

Investment field

Investment Companies & Funds

Activity

Infrastructure fund

Organisation

Beyond the Grid Solar Fund

Domicile

US

The Beyond The Grid Solar Fund is a debt fund focused on companies active in the off-grid / grid-deficit space mainly across East Africa. Borrowers of the BTGSF will include solar product distributors, PAYGO (pay-as-you-go) solar companies and solar project developers. One of the barriers currently faced by these companies is lack of access to debt finance, which is critical to achieve growth and scale. BTGSF’s loans are aimed at solar companies with positive track record (generally 3-years) that need capital to scale.

Management

BTGSF is managed by SunFunder, a solar energy finance asset management company with a mission to unlock capital for solar energy projects in emerging economies. Their strategy is fully aligned with BIO’s mandate i.e. providing access to energy and being inclusive. SunFunder’s vision statement is ‘driving a global energy transformation to solve energy access and climate change’.

Development impacts

  • Local economic growth

    Provision of over 80 loans in the coming 3 years, with an average of around USD 1,3m, and a tenor of up to 4 years.

  • Financial inclusion

    This investment contributes to the access to financial services of both enterprises and the general population. Target companies get access to financing in a situation where commercial banks are not able to do so given their strict regulations. The general population gets access to financing through the PAYGO approach of the SHS companies that are actually acting as micro-finance institutions (by pre-financing customers on their investment in electricity infrastructure)

  • Access to basic services & goods

    Access to energy: electricity

  • Fight against climate change and preservation of natural resources

    Impact on both energy poverty and climate change, by the generation and use of solar energy (on-grid + off-grid)

View more of our investments in this region

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Fidelity Bank Ltd.

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  14,433,000.00

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  1,000,000.00

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African Rivers Fund

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  4,118,275.00

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Infrastructure

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  7,750,715.07

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Rwimi EP Company

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  9,426,443.00

  Uganda

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Rwanda Mountain Tea

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Africa Renewable Energy Fund

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Infrastructure

Azito Energie

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Agri-Vie Fund II

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  6,552,700.00

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Adenia Capital IV LP

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  9,000,000.00

  Côte d'Ivoire, Ghana, Madagascar

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Financial Institutions

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  23/07/2019

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  4,367,820.00

  Kenya, Nigeria

  28/06/2019

  Equity

Ethos Mezzanine Partners 3

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  8,868,980.00

  Burundi, Ethiopia, Kenya, Malawi, Mozambique, Rwanda, South Africa, Tanzania, Uganda, Zambia

  13/06/2019

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Compagnie Africaine de Crédit

Financial Institutions

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  4,200.00

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  28/01/2019

  Subsidy

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  15,024,304.02

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Infrastructure

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  17,760,600.00

  Côte d'Ivoire

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  Debt

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  2,000,000.00

  Burkina Faso, Cameroon, Côte d'Ivoire, Mali, Mozambique, Senegal, South Africa

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Adenia Capital III

Investment Companies & Funds

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  5,000,000.00

  Côte d'Ivoire, Ghana, Madagascar

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  Equity

Adenia Capital III

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  100,000.00

  Côte d'Ivoire, Ghana, Madagascar

  19/05/2016

  Subsidy

Adenia Capital III

Investment Companies & Funds

Adenia Capital III

  150,000.00

  Côte d'Ivoire, Ghana, Madagascar

  28/09/2012

  Subsidy

Niche Cocoa Industry Ltd

Enterprises

Niche Cocoa

  449,000.00

  Ghana

  29/12/2010

  Debt

Niche Cocoa Industry Ltd

Enterprises

Niche Cocoa

  4,300,000.00

  Ghana

  02/06/2015

  Debt

Niche Cocoa Industry Ltd

Enterprises

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  41,603.00

  Ghana

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  Subsidy

Moablaou

Enterprises

Moablaou

  600,000.00

  Burkina Faso

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  100,000.00

  Burkina Faso

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  Debt

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Financial Institutions

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  Côte d'Ivoire

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Compagnie Africaine de Crédit

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Cofina Ivory Coast

  3,000,000.00

  Côte d'Ivoire

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Zoscales Fund I

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Zoscales Fund I

  4,169,100.00

  Ethiopia, Kenya, Rwanda, Tanzania, Uganda

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  Equity

7 Hills

Enterprises

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  77,000.00

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  Subsidy

AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  620,000.00

  Tanzania

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  Equity

AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  145,000.00

  Tanzania

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  Equity

AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  1,500,000.00

  Tanzania

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  Debt

AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  274,000.00

  Tanzania

  25/02/2010

  Equity

AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  225,000.00

  Tanzania

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  Equity

AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

  425,000.00

  Tanzania

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AccessBank Tanzania Ltd.

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AccessBank Tanzania

  100,000.00

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  Subsidy

AccessBank Tanzania Ltd.

Financial Institutions

AccessBank Tanzania

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  Tanzania

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  Subsidy

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  Debt