Africa Renewable Energy Fund Aref

18 dec 2020 the african development bank s board of directors on monday 14 december 2020 approved 15 million from the sustainable energy fund for africa sefa and 10 million from the clean technology fund ctf to advance african renewable energy fund aref ii s projects to boost low carbon energy generation in sub saharan africa.

Africa renewable energy fund aref.

The african renewable energy fund aref targets investments in small to medium size energy generation projects that generate energy from the following renewable and clean energy sources. Hydro wind solar and biomass projects certain geothermal projects and certain stranded natural gas projects. The purpose of the aref project support facility is to provide a range of assistance to support the development of renewable energy projects that fall within the aref s investment policy including energy resource assessment socio economic environmental studies technical activities legal due diligence and training and mentoring of local staff. Berkeley energy as the fund s managing organisation has experience in over 120 renewable energy and power engineering construction and investment projects in africa and asia.

Aref invests into small hydro wind geothermal solar and biomass projects across sub saharan africa excluding south africa. In fact the africa renewable energy fund aref initially was a joint initiative of the cnuced and bidc who together decided to create an instrument exclusively dedicated to the financing of energy renewable projects. Africa renewable energy fund aref the africa renewable energy fund aref invests into small hydro wind geothermal solar stranded gas and biomass projects. It is therefore as the initiator of this great idea that bidc is very happy to see.

The africa renewable energy fund aref invests into small hydro wind geothermal solar stranded gas and biomass projects across sub saharan africa excluding south africa. That initiative through the african biofuel renewable energy company abrec and the afdb led to the establishment of the african renewable energy fund which we are now proceeding to launch. Aref which is managed by berkeley energy is one of the first pan african private equity funds focused on developing renewable energy infrastructure. The africa renewable energy fund aref is an initiative of the african development bank afdb with an important contribution of the sustainable energy fund for africa sefa.

The africa renewable energy initiative arei is a transformative africa owned and africa led inclusive effort to accelerate and scale up the harnessing of the continent s huge renewable energy potential. Berkeley energy is an investment manager founded in 2007 to invest private equity into renewable energy infrastructure in developing markets and has experience in over 120 renewable energy and power engineering construction. The fund will essentially acquire controlling equity stakes in the projects so that the fund manager is able to determine the strategy of the companies. The africa renewable energy fund aref invests into small hydro wind geothermal solar stranded gas and biomass projects across sub saharan africa excluding south africa.