Africa Renewable Energy Fund II achieves its US$155.54m first close

AFRICA – The Africa Renewable Energy Fund II has achieved its first close at €130 million (US$155.54m), following a joint investment of €17.5 million (US$20.94) from The Sustainable Energy Fund for Africa (SEFA) and the Climate Technology Fund (CTF) 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 US$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…

Read More