Off-Grid Solar and Financial Access Senior Debt Fund
The Off-Grid Solar & Financial Access Senior Debt Fund I is a 4-year closed-end investment fund focused on Photovoltaic renewable energy solutions.
Amount
€ 4,385,750.00
Type of investment
Debt
Development impacts
- Local economic growth
- Access to basic services & goods
- Fight against climate change and preservation of natural resources
Beneficiary locations
Investment field
Investment Companies & Funds
Activity
Renewable Energy
Organisation
Off-Grid Solar and Financial Access Senior Debt Fund
Domicile
The Fund will provide senior debt financing to companies along the entire off grid solar value chain from design and engineering, over manufacturing, operations, national distribution and retailing, to solar product financiers (including Microfinance Institutions), all active across Sub-Saharan Africa and Asia. As opposed to PE funds, the Fund will lend money to companies instead of participating in the shareholdership.
The broad investment categories are:
- Off-grid solar companies;
- Microfinance institutions offering micro-financing schemes to funds Solar Home System acquisition.
Fund Manager
The fund is managed by Social Investment Managers and Advisors LLC (SIMA LLC) domiciled in Delaware (US). The SIMA team (8 professionals) has a combined experience in both the off-grid and financial access sectors. The team members have been engaged in those sectors for a long time. The team has local representation in Kenya and Pakistan to ascertain close proximity to their customers.
Development impacts
-
Local economic growth
Increase of disposable income of Base of Pyramid population (more cash available to spend on other necessities as SHS are cheaper than alternative energy sources such as kerosene lighting or candles);
-
Access to basic services & goods
Electricity and financing in an inclusive way: as the target group are Base of Pyramid customers in off-grid areas.
The Fund estimates to provide clean energy to over 1 million people / 250,000 homes;
-
Fight against climate change and preservation of natural resources
The Fund estimates it will contribute to reduce CO2 emission by over 4M tonnes by replacing fossil fuel energy sources (mainly charcoal, diesel, and kerosene);
Read impact and news about this project
Impact Story
Ours is a different company
27-10-2022
BIO has invested in the Off-Grid Solar and Financial Access Senior Debt Fund of SIMA. Asad Mahmood is the CEO and a Managing Partner of SIMA.
This is his story.
View more of our investments in this region
Infrastructure
SIMA Commercial & Industrial Solar Green Bond
10,000,000.00
Kenya, Nigeria, South Africa
29/12/2023
Debt
