Wednesday, December 13, 2017

Africa: Renewable Energy Fund Boosted With International Finance

IFC gives Nairobi energy firm Sh2bn for regional projects (Business Daily Africa)

A firm with Kenyan links is set to receive a Sh2 billion equity funding from the International Finance Corporation (IFC) for investment in renewable energy projects across sub-Saharan Africa excluding South Africa.

Berkeley Energy, which has an office in Nairobi, will receive the funding to boost its $200 million (Sh20.6 billion) Africa Renewable Energy Fund (AREF), which invests in viable wind, hydro, geothermal, biomass and solar projects.

The firm is one of the companies involved in the 1,000 megawatts (MWs) Corbetti Geothermal Project in southern Ethiopia and has also invested in several hydropower projects in Uganda.