$35-million to fund renewable energy in Africa

Inspired Evolution has successfully secured a further US$35-million in commitments from the African Development Bank (AfDB) and Swedfund International AB (Swedfund) in a second closing of its Evolution II Fund. Growing investor confidence in the company’s offering, consolidates its market position as one of sub-Saharan Africa’s leading specialised clean energy and resource efficiency investment advisory businesses. The fund’s investors comprise a mix of strategic international DFIs, specialised fund-of-funds, and a family office. Institutional investors are also looking at commitments to the fund in 2018. Evolution II invests in affordable, least-cost, low-carbon clean energy infrastructure projects and promotes growth in resource efficiency technologies, products and businesses. Its measurable positive impacts will improve energy access and reduce industry footprint, contributing to a brighter future for sub-Saharan Africa’s people.

Contact Peter Sturmheit, African Development Bank, Tel 012 003-6900, p.sturmheit@afdb.org

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