The African Development Bank Group (AfDB) will invest up to $25m in London-based private equity fund ARCH Africa Renewable Power Fund (ARPF). Arch Africa, which is backed by the World Bank, has been working with a number of renewable energy projects around Africa. The Fund’s strategy is to prioritise projects with a clear timeline to financial close, with emphasis on de-risking early stage greenfield projects. Renewable energy projects, including wind, solar, hydro, geothermal and biomass across sub-Saharan Africa are set to benefit from the AfDB investment, while ARPF said it will focus its $250m on projects that have a clear timeline to completion and that aim to de-risk early-stage greenfield schemes.
The African Development Bank Group (AfDB) will invest up to $25m in London-based private equity fund ARCH Africa Renewable Power Fund (ARPF). Arch Africa, which is backed by the World Bank, has been working with a number of renewable energy projects around Africa. Renewable energy projects, including wind, solar, hydro, geothermal and biomass across sub-Saharan Africa are set to benefit from the AfDB investment, while ARPF said it will focus its $250m on projects that have a clear timeline to completion and that aim to de-risk early-stage greenfield schemes.