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Camco Clean Energy PLC and EISER Infrastructure Partners LLP have been selected by Green Africa Power LLP as an investment advisor for an African renewables investment fund.
Green Africa Power (GAP) is the newest facility of the Private Infrastructure Development Group Trust (PIDG), which offers subordinated debt and contingent lines of credit to privately-owned renewable power generation projects in the most under-developed countries in Africa.
GAP invests alongside commercial lenders and other investors in order to stimulate private investment in renewable energy. To date £98 million of funding has been committed to GAP by the UK Departments for International Development (DFID) and Energy and Climate Change (DECC).
EISER and Camco have set up a joint team to originate, execute and manage projects eligible for funding by GAP. The team also works with GAP to ensure that the expected developmental and climate change objectives set forth by the funders are realised.
The fund will try to close the gap between those projects having difficulties reaching financial close and the new existence of funding for those projects.
GAP expects to start deploying funds to projects in Q4, and plans to commit all funds currently raised within the next three years.
EISER is a global independent infrastructure fund manager that combines deep infrastructure experience with strong financial expertise. EISER invests in quality infrastructure assets in the energy (including renewables), transport and environmental sectors. EISER has assets under management of greater than €3.5 billion globally, managed both through fund and co-investment structures.
EISER is authorised and regulated by the Financial Conduct Authority.
To deliver the GAP mandate, Camco will harness its 25 years of experience in renewable energy and network of 6 offices in Sub-Saharan Africa to source and finance projects with the greatest development potential. The Camco team brings together skills across the key areas of renewables, finance and policy dialogue.