Friday 24 February 2023:
Afrigreen closes Afrigreen Debt Impact Fund, a € 100 million fund dedicated to renewable energy projects in Africa.
Afrigreen provides long term debt solutions to renewable energy projects: solar, wind, biomass and hybrid projects.
Afrigreen is designed to match all project size and needs
- Starting from 100 kW and up to 15 MW
- C&I, utility-scale or mini-grid projects
- Off-grid and on-grid
- Greenfield and brownfield
- Project portfolio or single assets
- SPV level financing or direct lending to the end consumer
- IPP or self-consumption schemes
- Minimum size of US$ 1 million
Afrigreen targets all African countries
- Entire continent in the scope (except countries under sanctions)
- West and central Africa 80%, rest of Africa 20%
- Regional office located in Abidjan
- Loans in EUR, USD, NGN and GHS – other currencies to be assessed on demand
Afrigreen structures long term debt on a project finance basis
- No guarantee expected from sponsors
- Only project company, assets and contracts used as collateral
- Flexible in terms of offtake structure: power purchase agreement, lease-to-own, EPC contract
- Long term maturity
- Fixed rate
Afrigreen targets all energy projects for all counterparties and sectors
- agriculture and agri-processing
Afrigreen is backed by institutional investors
Afrigreen is a French limited partnership funded by the European Investment Bank (EIB), the World Bank Group’s International Finance Corporation, the Belgian Investment Company for Developing Countries (BIO), Proparco (Groupe Agence française de développement), Société Générale and BNP Paribas.
Afrigreen is managed by a team of experts with strong industry expertise
Afrigreen is jointly managed by Rgreen Invest and Echosys Invest (a joint subsidiary of Rgreen Invest and Echosys Invest). Rgreen Invest is a fund management company regulated by the French Autorités des Marchés Financiers and based in Paris.
Afrigreen applies IFC Performance Standards and EIB Environmental & Social Standards. The Fund will follow an environmental and social management system under which all projects will be audited to assess positive and negative impacts in terms and environmental and social aspects.
Afrigreen pays specific attention to the risk of forced labour being used in the production of solar photovoltaic panels and their components. It condemns the use of such forced labour for the production of solar photovoltaic panels or their components.