A renewable energy impact fund headed by former Scatec Solar head of business development Terje Osmundsen has reached its $8m first threshold commitment. Empower Invest will invest equity in 1-10MW renewable projects in developing countries, using a fund-based model to overcome the challenges of project financing smaller schemes. The series A share issue will allow Empower to invest in its first four to five projects. A $40m series B issue is planned for 2020.
African Energy, Issue 400, 26 September 2019.
Susie Scannelli Cook, Co-Founder, Chief Investment and Legal Officer, Empower New Energy is participating in the Attracting new investors session at the sixth annual Africa Investment Exchange: Power & Renewables meeting (RSA House, London, 13-14 November).