HELLENiQ ENERGY’s Post

British International Investment (BII), FMO - Dutch entrepreneurial development bank, and Proparco, along with renewable fund manager Frontier Energy | Africa, have announced a co-investment exceeding $52 million in the Planet Solar project, a greenfield 50MW solar power initiative in Sierra Leone. Developed by Frontier Energy and One Planet Group, the project aims to address the urgent need for clean, affordable, and stable power in the country. Christopher Chijiutomi, Managing Director and Head of Africa at BII, expressed delight in bringing clean and reliable energy to underserved regions, emphasizing the commitment to climate finance. The investment aligns with the goal of achieving net-zero emissions by 2050 and aims to unlock more long-term capital for Sierra Leone’s energy sector. Jaap Reinking, head of the Private Equity department at FMO, highlighted the significance of energy access as a key enabler for inclusive and sustainable economic recovery. Proparco’s Tibor Asboth echoed the sentiment, emphasizing the alignment of the investment with climate change mitigation strategies in Africa. Investment Director and Partner at Frontier Energy, praised the project’s development and delivery capabilities, emphasizing its potential to provide stable, clean, and reasonably priced power to urban and rural consumers, as well as commercial and industrial entities. Read more: https://lnkd.in/evW3viiW #RenewableEnergy #Solar #SierraLeone #Investment

Strategic partnerships

The European Investment Bank (EIB) is one of the world’s largest financiers of climate action, mobilizing €1 trillion of investments in climate and environmental sustainability projects over the current decade. We employ wide range of financial instruments with an aim to promote energy independence while helping the countries, including the Baltics, to transform into low carbon economies. We are, therefore, happy to announce that today the European Investment Bank (EIB), Nordic Investment Bank and UAB VVP Investment, part of Ignitis Group, have signed a financing agreement for the Mažeikiai onshore wind farm in Lithuania. The investment is executed via #projectfinance structure which is employed to finance 63 MW wind farm consisting of 14 wind turbines, with a combined estimated energy production capacity of more 200GWh a year. Congratulations to all parties involved on the successful closing of this important transaction!  Giedrius Ruskys Jonas Rimavicius Darius Sagatauskas Augustas Dragunas Ruta Lukauskiene Laurynas Jocys Martin Lundström, CFA, Andrea Mac Donald-Thomé, Paweł Kułak https://lnkd.in/dDwe7N3S #Sustainability #GreenEnergy #GreenTransition #EIBGroup #energyefficiency #JustTransition #Cleanenergy #GreenEconomy

I never quite know how I feel about this sort of news, African Infrastructure Investment Managers (AIIM) is an African business, owned by Old Mutual Limited a pan African bank established in Cape Town in 1945. My humble opinion is that Africa needs more African avenues for investment, as it stands it looks like AIIM will be potentially sold of to a variety of international investors like BlackRock, Norfund etc, don't get me wrong these are great entities, FMO is involved in a number projects and entities that I'm involved with. My concern is that its AIIM's African identity that has made it successful and we are at somewhat of a stale mate when it comes to financing new projects, highly reliant on the support of DFI's and I'm not sure what the continent has to gain from selling out to international shareholders. I'm not oblivious to the benefits of accessing the enormous wealth of a company like Black Rock for instance but is this in Africa's interest? #africa #energy #renewableenergy #powerafrica #electricity #investment

IFC - International Finance Corporation is helping address #Africa’s energy challenges with a new $80 million investment in the Facility for Energy Inclusion Fund (FEI Fund)). By supporting the development and expansion of Decentralized Renewable Energy (DRE) markets in Africa, the FEI Fund supports the growth in access to clean and reliable #Electricity across the continent, particularly in remote and underserved areas where grid connectivity is challenging or economically unviable. This will not only improve the quality of life for communities but also promote economic growth. IFC’s investment in FEI is well aligned with the World Bank Group’s Distributed Access through Renewable Energy Scale-Up Platform (DARES), which aims to help African countries to accelerate the pace of electrification in Africa to achieve universal access by 2030. ➡ http://wrld.bg/X4bZ50QltCG #IFCInfrastructure, #IFCEnergy #SustainableDevelopment #EnergyAccess Aliou Maiga; Sarvesh Suri; Marcel Bruhwiler; Mark Dimmer; Akanksha Davera; Mariyam Zhumadil, CFA; Marc-Antoine HUARD; Yann Tanvez; Matthew McClymont; Olimpia Gjino; Orofisola Fasehun; Edwin Paxson, IFC Infrastructure

Is the African renewable investment sector gradually losing it's identity, this on the news that Old Mutual Limited are in talks with the likes of BlackRock and FMO Investment Management to potentially sell their renewable investment busines, African Infrastructure Investment Managers (AIIM) #energy #power #southafrica #africa #renewableenergy #investment #impactinvestment

⚡11 Energy Catalyst companies attended EAIF 2024, organized by the Alliance for Rural Electrification and supported by GET.invest, in association with the Rural Electrification Agency of Nigeria. The event gathered 2,200 participants including developers, investors, policymakers, and regulators. Energy Catalyst, led by The Carbon Trust, was one of the forum’s strategic partners, and our delegation was eager to make the most of this valuable opportunity to foster business and investor partnerships, as well as engage in lively discussions. 💫 A key takeaway from Brian Jaoko,(MSc EPM,MEIK): “Energy access is a complex ecosystem and no single player possesses a magical solution that will work everywhere. So collaboration is essential to ensuring solutions are appropriately tailored to the complexities that arise from geography, size, and the nature of each project. More than ever, players must work hand-in-hand to accelerate momentum in the clean energy transition.” 📖 Read the full write-up here: https://lnkd.in/dn4rRCPZ #EAIF2024 #SDG7 #SDG13 #InclusiveEnergy #SolarEnergy #Sustainability #Investment #Decarbonization #EconomicGrowth #ClimateAction #RenewableEnergy

DFI Highlight: Featuring Norfund   Norfund is a DFI with headquarters in Oslo, Norway. It aims to focus on impactful investments in Renewable Energy, Financial Inclusion, Scalable Enterprises, and Green Infrastructure. Just over one-third of its portfolio is in least developed countries and nearly 60% of Norfund's newest commitments in 2023 were in Sub-Saharan Africa.   Norfund has used the JIM to estimate the impact of its investments since 2020. Last month, Norfund released its 2023 Impact Report, marking it the second year that it has reported on the Development and Climate Mandates. Here are some key findings Norfund presented in its 2023 Impact Report: 🛤 625,000 jobs supported through its portfolio companies 🏭 2.2 million tons CO2e avoided emissions in 2023 from operational power plants 👔 Portfolio companies (with two consecutive years of reporting) showed a 9% or 37,200 net increase of jobs   We are proud to work with Norfund on their impact reporting and look forward to many more years of collaboration! #ImpactReporting #JointImpactModel #JustTransition Signe Kolbye Sørensen Helle Backer Francis Katende Mina Skille Mariussen Florian Kozikowski Rebecca Silden Langlo Mirko Dal Maso

The NSIA: Nigeria Sovereign Investment Authority (NSIA) alongside Sustainable Energy for All (SEforALL) recently co-hosted Mr Rajiv J. Shah, President The Rockefeller Foundation, and key stakeholders at a private sector roundtable to explore climate finance strategies and actionable opportunities to close the energy gaps in Nigeria.   While delivering the welcome address at the event, Mr. Kolawole Owodunni, Executive Director and Chief Investment Officer NSIA, highlighted the commitment from the private sector to support Distributed Renewable Energy Projects (DRE), a collaborative drive to achieve universal energy access goals and innovative local financial solutions that complement international funding, as key levers to ensure the success of energy transition in Nigeria.   With innovative solutions like NSIA’s wholly-owned US$ 500 million Renewable Investment Platform for Limitless Energy (RIPLE) – focused on catalysing the development, investment, and operation of renewable energy projects across the entire energy value chain, as well as the US$50 million Carbon Vista - set up in collaboration with Vitol - to invest in carbon avoidance and removal projects, NSIA continues to demonstrate its commitment to sustainable development through climate adaptive investments and strategic partnerships. #NSIA #SEforAll #climatefinance #energy #investments #energytransition #dre #climateinvesting

British International Investment Fuels Clean Energy Transition In South-East Asia With $13.5 Million Investment In SEACEF II British International Investment (BII), the UK’s development finance institution and a dedicated impact investor, has announced a significant move to advance the low-carbon transition in South-East Asia. BII is committing $13.5 million to the South-East Asia Clean Energy Fund II (SEACEF II), managed by Singapore-based fund manager Clime Capital. SEACEF II stands out as the first blended investment fund in South-East Asia, designed to provide early-stage high-risk capital to support promising businesses within the realms of renewable energy generation, energy efficiency, electric mobility, and electrical grid sectors. Additionally, the fund will offer supplementary capital to expedite the scale-up of its […] Read the full story here: https://lnkd.in/dhHWSwxi #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #middleeast #africa #india #asiapacific #asia #britishinternationalinvestment #cleanenergy #climecapital #funding #renewableenergy #seacefii #singapore #southeastasia