AECF Investor Database Renewable Energy October 2021

AECF Investor Database – Renewable Energy October 2021

1. EasSection I - Concessional Funding (Grants, Guarantees and Subsidies)

1.1. African Guarantee Fund

Countries targeted: Botswana, Burundi, Ethiopia, Kenya, Lesotho, Malawi, Mozambique, Namibia, Rwanda, Seychelles, Somalia, South Africa, South Sudan, Swaziland, Tanzania, Uganda, Zambia, Zimbabwe

Prioritized clean energy technologies: Biofuels liquid, Biogas, Cookstoves, Energy Efficiency, Hybrid, Hydropower, Solar PV, Solar thermal, Solid biomass, Waste-to-energy, Windpower – On-grid, Mini-grid connected, Mini-grid stand-alone, Stand-alone system, Cookstoves

Size of investment: Medium, Large

Financing instruments: Guarantee

The AGF provides financial guarantees to financial institutions to stimulate financing to SMEs and unlock their potential to deliver inclusive growth in the region. https://africanguaranteefund.com/

1.2. Clean Cooking Alliance

Countries targeted: Kenya, Uganda, Ghana

Prioritized clean energy technologies: Clean Cooking

Size of investment: Small

Financing instruments: Grants

Clean Cooking Alliance is supporting enterprises in clean cooking solutions ranging from fuels and technologies become investor-ready through providing grants ($100-500K) and linking growth enterprises with investors.

1.3. Shell Foundation

Countries targeted: Ethiopia, Kenya, Rwanda, Tanzania, Uganda, Zambia

Prioritized clean energy technologies: Biogas, Cookstoves, EE, Hybrid, Solar PV, Solar thermal, Solid biomass, Waste to energy - Mini-grid connected, Mini-grid stand-alone, Stand-alone system, Cookstoves

Shell Foundation creates and scales business solutions to two major global development challenges: access to energy and sustainable mobility. The geographical focus is on Africa and Asia, where issues such as access to energy and mobility are major obstacles to sustainable development. https://shel lfoundation.org/

1.4. Beyond the Grid Fund for Africa

Countries targeted: Burkina Faso, Liberia, Mozambique, Uganda, Zambia

https://africanguaranteefund.com/


Prioritized clean energy technologies: mini-grids and solar home systems

Size of investment: Medium


BGFA was set up in 2019 as an initiative of the Swedish Government, building on the successful, award-winning initial pilot phase in Zambia, the Beyond the Grid Fund for Zambia. BGFA is a multi-year funding facility aiming to kick-start markets for clean, off-grid energy in sub-Saharan African countries. It works through a combination of innovative results-based financing mechanisms for energy companies, close cooperation with governments and real-time data collection and analysis. https://beyondthegrid.africa/

1.5. ADA

Countries targeted: Cabo Verde, Burkina Faso, Tunisia, Niger, and Laos

Prioritized clean energy technologies: The digital finance initiative, which represents a genuine opportunity to accelerate the development of financial inclusion. The provision of advice and long-term funding to MFIs through the LMDF investment fund. Structural support and training provided to MFIs in Africa, South-East Asia and Latin America. Support for the development of networks of MFIs in Central America, West Africa and Asia. Support for professionals throughout the sector to ensure its long-term development in Cape Verde and Tunisia. https://www.ada-microfinance.org/en/about-ada

1.6. SIMA FUNDS

Countries targeted: All Subsaharan Africa

Prioritized clean energy technologies: Solar Home Systems, Clean cooking, Mini grids. The SIMA Fund invests in distribution companies working to provide affordable access to clean energy products in emerging markets. By providing debt capital to traditionally overlooked distributors, the data-driven DFF accelerates the growth of the off-grid energy sector while increasing access to life-changing products for families across Africa, Asia, and Latin America. https://simafunds.com/

1.7 Alpha Mundi Foundation

Countries targeted: Eastern Africa, South Africa Prioritized clean energy technologies: Mini grids,Solar Home Systems Size of investment: $ 5,000-50,000


Requirements:

• Has to be incorporated

https://beyondthegrid.africa/

https://www.ada-microfinance.org/en/about-ada

https://simafunds.com/


• Should be a legally registered entity in the target country/region

• Should have been operational for a minimum amount of time: Not specified

• Earned revenue requirements for the past twelve months: Not specified

• Should have audited financial statements: Not specified AlphaMundi Group Ltd is a commercial entity based in Switzerland and exclusively dedicated to Impact Investing: profitable investments that generate substantial net benefits to society. It was founded in 2007 by a group of partners with extensive experience in the financial industry as well as responsible investments, microfinance and philanthropy. AlphaMundi provides debt and equity financing to scalable social ventures in strategic sustainable human development sectors such as microfinance, affordable education, fair trade agriculture and renewable energy. https://www.alphamundi.ch/

• 1.8 DOEN Foundation Institutional Grant

Countries targeted: Eastern Africa

Prioritized clean energy technologies: SHS, Mini grids,other agriproductive use

Size of investment: 56201.85- 224807.4


Requirements:



1.9 DOEN foundation convertible grant

Countries targeted: : Eastern Africa


Size of investment: $224,765 – 561,922.5

Financing instruments: grant

Requirements:


• Should be legally registered entity in the target country/region DOEN Foundation offers grants for supporting green, socially inclusive and creative society. DOEN distiguishes between types of grants based on the scale of the project or type. Institutional Grants are financial donations to support organisations as a whole.The DOEN Foundation believes in a Green, Socially inclusive and Creative society. DOEN supports innovative initiatives of pioneers and gives them a quick start. In this way they can inspire others and show that change is possible. https://www.doen.nl/en

https://www.alphamundi.ch/

https://www.doen.nl/en


1.20 DOEN Foundation


Prioritized clean energy technologies: SHS, mini grids, other uses

Size of investment: $112,384.5- $ 561,922.5

Financing instruments: Concessional debt

Requirements:


• Should be legally registered entity in the target country/region https://www.doen.nl/en

1.21 DOEN Foundation- Programme Grants



Size of investment:$ 56201.85-224807.4

Financing instruments: Grant

Requirements:


• Should be a legally registered entity in the target country/region https://www.doen.nl/en

1.22. DOEN Foundation -Project Fund



Size of investment: $ 56201.85 -224807.4


Requirements:








1.23. EDP Access to Energy CSR Fund

Countries targeted: Eastern Africa, South Africa

Prioritized clean energy technologies: SHS, Mini grids

Size of investment: $ 56201.85-224807.4


Requirements:


• Should have been operational for a minimum amount of time: 3 years

• Should have audited financial statements: 1 year

• Should be serving consumers living below the poverty line

Access to Energy (A2E) is committed to promoting in developing countries, focusing on remote regions and rural areas with no connection to the electricity grid, and helping communities to break their poverty cycle,as a reference electric utility their vocation of openness to the world and sustainability. https://www.gogla.org/edp-access-to-energy-fund-program-2nd-edition

1.24 EEP Africa Innovation Window

Countries targeted: Eastern Africa,South Africa

Prioritized clean energy technologies: SHS, mini grids,C& I clean cooking, other agriproductive uses

Size of investment: $224,765-561,922.5


Requirements:




• Should have audited financial statements: Not specified

• (There must be co-investors in every deal.)

The Energy and Environment Partnership Trust Fund (EEP Africa) is a clean energy financing facility hosted and managed by the Nordic Development Fund (NDF) with funding from Austria, Finland and NDF. It is guided by a vision for a climate-resilient, zero-carbon future with the aim of contributing to the achievement of the Paris Agreement on climate change and Sustainable Development Goals (SDGs). https://eepafrica.org/about-us/

https://www.gogla.org/edp-access-to-energy-fund-program-2nd-edition

https://www.gogla.org/edp-access-to-energy-fund-program-2nd-edition

https://eepafrica.org/about-us/


1.25 Green Minigrid (GMG) Facility Kenya


Prioritized clean energy technologies: Mini-grids Size of investment: $0-1,124,295


Requirements:





Green Mini-Grid Facility Kenya is a facility that provides grants and technical assistance to promote mini-grid development in Kenya through the private sector. It supports the National Electrification Strategy developed by the Kenya Government. The facility is supported by UK Aid and the European Union African Infrastructure Trust Fund (EU-AITF) with the Agence Francaise de Developpement as the implementing partner. https://www.gmgfacilitykenya.org/

1.26 P4G Grants-Start up Funding, Scale up Funding

Countries targeted: Eastern Africa,South Africa

Prioritized clean energy technologies: SHS, mini grids,C& I clean cooking

other agriproductive uses Size of investment: $ 500,000- 1,000,000


Requirements:


• Should have audited financial statements: 1 year

P4G is a global platform pioneering green partnerships to deliver inclusive and sustainable growth. P4G has systematically built a pipeline of more than 50 multistakeholder partnerships and leveraged more than US $292 million into these commercially viable models of change. The partnerships work across P4G’s five focus SDG areas and are now clustering into themes that can deliver greater impact in achieving the Global Goals and climate ambitions. https://p4gpartnerships.org/

https://www.gmgfacilitykenya.org/

https://p4gpartnerships.org/


1.27 Kenya Climate Ventures Limited

Countries targeted: Kenya

Prioritized clean energy technologies: Size of investment: $ 890.87- 4,454.34 Min Tenor period: 3 years

Max Tenor period: 7 years


Requirements:


• Should be legally registered entity in the target country/region




• Should be providing leverage/own equity: Not specified

• Should be serving consumers living below poverty line

Kenya Climate Ventures Limited is a member of the Global Impact Investing Network (GIIN). The GIIN is the leading nonprofit dedicated to increasing the scale and effectiveness of impact investing. Impact investments are made into companies, organisations, and funds with the intention to generate social and environmental impact alongside a financial return. Impact investments can be made in both emerging and developed markets, and target a range of returns from below market to market rate, depending upon the circumstances. https://kcv.co.ke/

1.28 Business Partners Limited

Countries targeted: South Africa Prioritized clean energy technologies: Solar, C&I, Size of investment: $ 6,313.89- 31,569.47 Min Tenor period: 5 years



Requirements:



• Should have been operational for a minimum amount of time: 1 year

• Should be providing leverage/own equity: 10 - 20%

• Has to be majority owned by citizens of the country where investment takes place

https://kcv.co.ke/


• (Projects don't need to be audited, just reviewed.)

1.29 BIX Capital

Countries targeted: Sub-Saharan Africa Prioritized clean energy technologies: SHS, Minigrids, Productive use, LPG Size of investment: $ 500,000- 3,000,000

Min Tenor period: 3 years



Requirements:


• Assignment of receivables

• Pledges of the shares in borrower’s company

• (Projects must have a registered carbon impact monetization scheme in place)

2. Section II – Debt and Mezzanine Instruments

2.1. Trine

Countries targeted: Africa

Prioritized clean energy technologies: Minigrids, solar home systems, mini-grids, clean cooking and productive use

Size of investment: Medium Min Tenor period: 6 months


Financing instruments: Debt We make it easy for people to invest in solar energy in growing markets. Our mission is to give people a triple return on investment - earn a profit while making a social and environmental impact. https://trine.com/about/how

https://trine.com/about/how


2.2. Lendahand




Min Tenor period: 6 months


Financing instruments: Debt

Lendahand is an online impact investing platform helping impactful energy access SMEs in sub-Saharan Africa’s access affordable and quick debt funding from socially conscious EU retail investors. A partner gets access to a flexible tranche-based credit facility (totaling approx. EUR 1.5 - 5m) which can be drawn in tranches by uploading a project ranging from EUR 50k-1m, according to business funding requirements. https://www.lendahand.com/en-EU

2.3. Oiko Credit




Min Tenor period: 3 years



Oikocredit is a worldwide cooperative and social investor providing loans, investments and capacity building to the financial inclusion, agriculture and renewable energy sectors in Africa, Asia and Latin America.. https://www.lendahand.com/en-EU

2.4. Alphamundi

Countries targeted: East and Southern Africa

Prioritized clean energy technologies: Solar PV, Solar Mini-grids

Size of investment: Small Min Tenor period: 1 year


https://www.lendahand.com/en-EU

https://www.lendahand.com/en-EU


Financing instruments: Debt, Mezzanine

AlphaMundi Group Ltd is a commercial entity based in Switzerland and exclusively dedicated to Impact Investing: profitable investments that generate substantial net benefits to society. AlphaMundi provides debt and equity financing to scalable social ventures in strategic sustainable human development sectors such as micro-finance, affordable education, fair trade agriculture and renewable energy. In 2017, AlphaMundi began integrating gender analysis throughout the investment process. The team endeavors to advance gender equality at the management company, portfolio company, and beneficiary levels. AlphaMundi also manages co-investments for SAIF-Bastion investors and third parties. https://www.alphamundi.ch/

2.5. Camco Clean Energy

Countries targeted: Botswana, Burundi, Ethiopia, Kenya, Lesotho, Malawi, Mozambique, Rwanda, Swaziland, Tanzania, Uganda, Zambia, Zimbabwe

Prioritized clean energy technologies: Biogas, Hydropower, Solar PV, Solid Biomass, Waste to Energy, Wind Power – On-grid, Mini-grid connected, Mini-grid stand-alone

Size of investment: Small, Medium, Large

Financing instruments: Early-stage debt and construction debt

Camco has become a global leader in low-carbon energy projects and climate finance. They have on-the-ground experience originating, financing and building clean energy and electrification projects in developing and established markets across the world. Camco finances the development and construction of small to medium-sized grid-connected power projects in sub-Saharan Africa, both on-grid and off-grid. https://www.camco.energy/

2.6. Lion’s Head

Countries targeted: Sub-Saharan Africa

Prioritized clean energy technologies: Hydropower, Solar PV, Solar thermal, Waste to energy, Windpower


Financing instruments: Debt and technical assistance

LHGP is an investment bank managing the Facility for Energy Inclusion Off-Grid Energy Access Fund (OGEF) and the Africa Local Currency Bond Fund (ALCBF). and the soon-to-be-launched Facility for Energy Inclusion On-Grid Energy Fund. OGEF is a specialist debt fund supporting the energy access sector with $2-10m loans in hard and local currency under a range of transaction structures and across sub-Saharan Africa. ALCBF is a $180m fund lending to companies and projects issuing bonds in local currency/capital markets and has the capacity to support small-scale project refinancing as well as other energy activities. https://www.lhgp.com/

https://www.alphamundi.ch/

https://www.camco.energy/

https://www.lhgp.com/


2.7. Rand Merchant Bank

Countries targeted: Kenya

Prioritized clean energy technologies: Hydropower, Solar PV, Waste to energy, Windpower

Size of investment: Large


RMB is a leading African corporate and investment bank offering clients innovative, value-added advisory, funding, trading, corporate banking, and principal investing solutions. The bank invests in on-grid renewable energy projects above the size of 5 MW. https://www.rmb.co.za/

2.8. SunFunder

Countries targeted: Botswana, Burundi, Ethiopia, Kenya, Lesotho, Malawi, Mozambique, Namibia, Rwanda, Seychelles, Somalia, South Africa, South Sudan, Swaziland, Tanzania, Uganda, Zambia, Zimbabwe

Prioritized clean energy technologies: Hybrid, Solar PV, Solar thermal – On-grid, Mini- grid-connected, Mini-grid stand-alone, Stand-alone systems



Financing instruments: Debt-Loan

SunFunder is a specialist debt provider for beyond-the-grid solar projects and companies. Based in Nairobi, Kenya, we provide inventory, construction, and structured asset finance loans for solar lighting, home systems, mini-grids, productive use, and commercial solar projects to solar businesses and to end users/direct customers in Sub-Saharan Africa. https://www.sunfounder.com/

2.9. Triple Jump BV




Triple Jump is an impact-focused investment manager that provides meaningful and responsible investment opportunities in developing countries. Triple Jump aims to improve access to appropriate financial services for entrepreneurs at the bottom of the pyramid. The Fund is still being developed and Triple Jump is looking for energy, water and/or sanitation projects that improve the lives of the ones who need it the most. https://triplejump.eu/

https://www.rmb.co.za/

https://www.sunfounder.com/

https://triplejump.eu/


2.10 BETTERVEST Countries targeted: Eastern Africa and Western

Prioritized clean energy technologies: SHS, Mini-grids, Clean Cooking, LPG, productive Size of investment: $ 300,000 Min Tenor period:1 year

Max Tenor period: 8 years Financing instruments: Commercial debt

Requirements: Personal guarantee of all owners

2.11 AHL Venture Partners Bridge debt

Countries targeted: Eastern , South Africa

Prioritized clean energy technologies: Minigrds, SHS, Cleen cooking, other agriproductive use Size of investment: $ 500,000- 3,000,000 Min Tenor period: 3 years


Financing instruments: Commercia ldebt

Requirements:

• Assignment of receivables

• Lein of the installed equipment

• Pledges of the shares in borrower’s company

• Pledges of real property assets of company

• Generally unsecured, but tied to a specific liquidity event that enable bullet repayment, mainly via a larger capital raise (equity or debt), but can also be a large contract payment, asset sale etc. The loan size will be no greater than 25% of the liquidity event.

AHL Venture Partners (AHL) is a fund manager specialized at investing in high-growth & high-impact businesses in Africa. AHL manages funds for Adolf H. Lundin Charitable Foundation (AHLCF). AHL has a portfolio spanning direct equity and debt, fund investments and global fixed income. http://www.ahlventurepartners.com/s/AHL-Bridge-Debt-One-pager-Feb-2021.pdf

http://www.ahlventurepartners.com/s/AHL-Bridge-Debt-One-pager-Feb-2021.pdf

http://www.ahlventurepartners.com/s/AHL-Bridge-Debt-One-pager-Feb-2021.pdf


2.12 Ariya Finergy Countries targeted: Eastern Africa

Prioritized clean energy technologies: Minigrds, C$I, and Agriproductive use Size of investment: $ 133,7600- 13,376,000 Min Tenor period:2 years


Financing instruments: Commmercial Debt

Ariya Finergy is an industry leader in supplying and financing clean energy, storage and power quality systems, supported by a seamless end to end service. It is a clean energy company offering fully-financed power systems. Its solutions are state-of-the-art, customer-centric renewable energy supply offered at competitive monthly payments. They have reliable and comprehensive turn-key operations and received the Powering Agriculture Energy Grand Challenge Innovators Award for their scalable business model. ARIYA FINERGY | Your Power Partner | Renewable Energy in Kenya | Solar PV Systems in Kenya

2.13 Business Partners International Countries targeted: Eastern Africa and Southern Africa

Prioritized clean energy technologies: C$I, Agri-productive Size of investment: $ 6,326- 31,610 Min Tenor period: 5 years

Max Tenor period: 7 years Financing instruments: Commercial debt

Requirements:

• Personal guarantee of majority owner

• Personal guarantee of all owners

• Lein of the installed equipment

• Pledges of real property assets of company

• Will take pledges of listed shares only.

Business Partners International is one of the leading business loan providers for viable small to medium businesses in the world. They provide loan finance ranging from US$100 000 to US$ 1 million to all business owners who have a viable formal business and require finance for expansion, working capital, equipment, takeovers, property, franchises or management buy-outs. About Us - Business Partners International

https://ariyafinergy.com/

https://ariyafinergy.com/

https://www.businesspartners.africa/about-us/


3. Section III – Convertible Debt and Equity Instruments

3.1. Acumen Fund

Countries targeted: Ethiopia, Kenya, Rwanda, Tanzania, Uganda, Nigeria

Prioritized clean energy technologies: CookstovesEnergy Efficiency, Solar PV, Solar thermal – Mini-grid connected, Mini-grid stand-alone


Financing instruments: Convertible debt and equity

Acumen was incorporated on April 1, 2001, with seed capital from the Rockefeller Foundation, Cisco Systems Foundation and three individual philanthropists. Our desire was to transform the world of philanthropy by looking at all human beings as members of a single, global community where everyone had the opportunity to build a life of dignity. The organization would invest “Patient Capital,” capital that bridges the gap between the efficiency and scale of market-based approaches and the social impact of pure philanthropy, in entrepreneurs bringing sustainable solutions to big problems of poverty. https://acumen.org/

3.2. DOB Equity

Countries targeted: Kenya, Rwanda, Tanzania, Uganda, Burundi

Prioritized clean energy technologies: Microgrids

Size of investment: Small, Medium Min Tenor period: 5 years

Max Tenor period: 10 years Min Interest Rate: 10% Max Interest Rate:15%

Financing instruments: Equity

DOB Equity is a Dutch family-funded impact investing firm. We invest in scalable, innovative social enterprises across East Africa that impact low and middle-income communities. The companies we support provide better or more affordable products and/or services to customers. In addition, we look for companies that create better access to the market for producers. DOB is sector agnostic but has an interest in retail and distribution, agri-business, education, renewable energy and logistics. https://www.dobequity.nl/

3.3. Energy Access Ventures



https://acumen.org/

https://www.dobequity.nl/


Min Interest Rate: 15% Max Interest Rate:20%


EAV is a venture firm that invests in the growing number of dynamic and innovative companies that are taking on the challenge of lacking energy access in Sub-Saharan Africa. EAV helps the growth of their portfolio company’s strategy and helps founders raise further funding and develop a long-range exit plan. https://eavafrica.com/

3.4. DI Frontier Market & Carbon Fund


Prioritized clean energy technologies: Solar PV – On-grid

Size of investment: Large

Financing instruments: Equity, Mezzanine

Frontier Energy is a private equity fund that develops and invests equity in early-stage renewable energy power projects in sub-Saharan Africa. The fund invests in renewable energy and energy efficiency projects that contribute to reducing greenhouse gas emissions. https://frontier.dk/

3.5. FactorE Ventures

Prioritized clean energy technologies: Energy Efficiency, Waste-to-energy – Mini-grid connected


Financing instruments: Convertible notes and Equity

FACTOR[e] is a venture development firm with a mission to improve lives in the developing world through increased access to sustainable energy and related services. We support early-stage entrepreneurs through a unique blend of risk capital and world-class technical resources. We find, validate, fund, de-risk, and grow a rich pipeline of social ventures that aim to solve profound global problems. https://www.factore.com/#home

3.6. GroFin


Size of investment: Small, Medium

Prioritized clean energy technologies: Cookstoves, Energy Efficiency, Hybrid, Solar PV, Waste to energy - Mini-grid stand-alone, Stand-alone system, Cookstove

GroFin is a pioneering private development finance institution specialized in financing and supporting small and growing businesses (SGBs) across Africa and the Middle East by combining medium-term loan capital and value-added business support. GroFin was established in 2004 with the objective of providing a unique solution of finance and support to SMEs in the missing middle. Our sole purpose is to sustain jobs and create an impact in local

https://eavafrica.com/

https://frontier.dk/

https://www.factore.com/#home


communities. https://www.grofin.com/

3.7. InfraCo Africa

Countries targeted: Botswana, Burundi, Ethiopia, Kenya, Lesotho, Malawi, Mozambique, Rwanda, Somalia, South Sudan, Swaziland, Tanzania, Uganda, Zambia, Zimbabwe

Prioritized clean energy technologies: Hybrid, Hydropower, Solar PV, Solid biomass, Waste to energy, Wind power - On-grid, Mini-grid connected, Mini-grid stand-alone



InfraCo Africa seeks to alleviate poverty by mobilizing private sector expertise and finance to develop infrastructure projects (Power/Water/Transport) to cover development capital (pre-FC) and eventually construction in sub-Saharan Africa. InfraCo Africa is part of the Private Infrastructure Development Group. (PIDG), who has supported 170 projects to financial close, 82 of which were in fragile and conflict-affected states. InfraCo Africa provides funding and expertise to projects at their earliest stage, enabling them to grow from an initial concept to a bankable investment opportunity. InfraCo Africa partners with host governments and the private sector, working with both to address market gaps and to help develop the regulatory frameworks needed to enable private sector participation in infrastructure. https://infracoafrica.com/

3.8. Kawisafi Ventures Ltd

Countries targeted: Kenya, Rwanda

Prioritized clean energy technologies: Solar PV – Stand-alone system, Mini-grid stand-alone, Cookstove

Size of investment: Small, Medium

Financing instruments: Equity, Convertible debt, equity-like instruments and technical assistance

KawiSafi Ventures (“KSV”) is an impact Fund that aims to catalyze an emerging high growth potential off-grid solar energy ecosystem in East Africa. The Fund is sponsored by Acumen, an organization with a proven track record of investing in and creating social and environmental impact over the last fourteen years. The fund invests in proven track record of organically growing revenues, gross profit margin positive and a team that can deliver. https://www.kawisafi.com/

3.9. Nordic Impact Funds

Countries targeted: Kenya, Tanzania, Uganda, Rwanda and Ethiopia


Financing instruments: Equity or debt

Nordic Impact Funds seeks to improve the quality of life for millions of low-income people by leveraging capital, governance and technology and combining it with local presence and an active role as an investor. The fund seeks

https://www.grofin.com/

https://infracoafrica.com/

https://www.kawisafi.com/


investments in companies targeting the BoP/low-income segment with products, services, access to markets or job/income generation. Key investment criteria include strong potential for social impact, a clear demand within target segment, affordability of product/service/solution and the project provides buy-in/support from local communities, and have an ambitious and credible plan for scaling. https://www.nordicimpactfunds.com/

3.10. Novastar Ventures

Countries targeted: Ethiopia, Kenya, Rwanda, Tanzania, Uganda

Prioritized clean energy technologies: Biofuels liquid, Biogas, Energy Efficiency, Hybrid, Solar PV, Solar thermal, Solid biomass, Waste to energy, Wind power - On-grid, Mini-grid connected, Mini-grid stand-alone, Stand-alone system



Novastar is a venture catalyst firm assisting the next generation of exceptional entrepreneurs who are designing and executing innovative business models to profitably serve East Africa’s aspiring mass market. https://novastarventures.com/

3.11. Social Investment Managers and Advisors

Countries targeted: Botswana, Burundi, Kenya, Lesotho, Malawi, Mozambique, Rwanda, South Africa, Swaziland, Tanzania, Uganda, Zambia

Prioritized clean energy technologies: EE, Solar PV – Stand-alone systems



SIMA LLC is a New York based asset manager with offices in Geneva, Nairobi and Karachi. We manage SIMA Fund I, a US$75 million Netherlands-based fund, focusing on lending to solar and microfinance companies based in Africa and Southeast Asia. Our debt products include term loans, off-balance-sheet special purpose vehicle loans, inventory finance and distributor finance. https://simafunds.com/

3.12. Virunga Power

Countries targeted: Burundi, Kenya, Malawi, Mozambique, Rwanda, Tanzania, Uganda, Zambia

Prioritized clean energy technologies: Hydropower – On-grid, Mini-grid connected, Mini-grid stand-alone


Financing instruments: Equity, Development Capital

Virunga Power is a developer, investor, and operator of small-scale hydropower generation and rural electricity distribution projects in East and Southern Africa. The company focuses on 3 to 20 MW small hydro generation facilities to sell both into national grids and local mini-grids serving the rural communities surrounding our projects. In addition to developing our own projects, we work with local developers who need financial and technical support

https://www.nordicimpactfunds.com/

https://novastarventures.com/

https://simafunds.com/


in the development process. http://virungapower.com/

3.13. GAIA IMPACT FUND Countries targeted: Sub-Saharan Africa Prioritized clean energy technologies: SHS, C$I, Minigrids, productive use

Size of investment: $500,000.00 - 1,000,000.00

Financing instruments: Equity and Mezzanine

Requirements:



• Earned revenue requirements for the past twelve months (EUR): Not specified

3.14. Business Partners International

Countries targeted: Eastern and Southhern Africa

Prioritized clean energy technologies: C$I, other use

Size of investment: $ 0-31,675 Min Tenor period: 5 years


Financing instruments: Equity and Mezanine

Requirements:



• Should have been operational for a minimum amount of time: 1 year

• Has to be majority owned by citizens of any specific country

Business Partners International is one of the leading business loan providers for viable small to medium businesses in the world. They provide loan finance ranging from US$100 000 to US$ 1 million to all business owners who have a viable formal business and require finance for expansion, working capital, equipment, takeovers, property, franchises or management buy-outs. About Us - Business Partners International

http://virungapower.com/

https://www.businesspartners.africa/about-us/


3.15. Treehouse investments LLC Countries targeted: Sub-Saharan Africa Prioritized clean energy technologies: SHS, Minigrids, LPG, Productive use Size of investment: $ 500,000- 3,000,000 Max Tenor period: 5 years

Financing instruments: Equity and Mezanine Debt Requirements:



• Earned revenue requirements for the past twelve months (EUR): Not specified

• Should have audited financial statements: Not specified Treehouse Investments is a boutique decentralized-infrastructure firm dedicated to addressing climate change.It is a family business, founded by a family from Puerto Rico. In 2007, they made a commitment to invest in a socially responsible way. Over the years they have become convinced the only investments that are truly socially responsible are those which directly aim to reverse climate change.They specialize in infrastructure because it provides the foundation on which all other human efforts are built. They focus on decentralized solutions because they are the most resilient. Additionally strive for gender balance and seek profit, because they believe that is the only way to drive change. Treehouse Investments, LLC

https://www.treehouseinvestments.com/

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AECF Investor Database Renewable Energy October 2021

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