13/03/2014
African Renewable Energy Fund (AREF) launches with $100m committed capital (African Development Bank Group)
(Source: African Development Bank Group) The African Renewable Energy Fund (AREF), a dedicated renewable energy fund focused on Sub-Saharan Africa closed on Wednesday, March 12, 2014 with US $100 million of committed capital to support small- to medium-scale independent power producers (IPPs). The fund, which will be headquartered in Nairobi, is targeting a final close of US $200 million within the next 12 months to be invested in grid-connected development stage renewable energy projects including small hydro, wind, geothermal, solar, biomass and waste gas. #160; Initially promoted in a joint initiative by the African Biofuel and Renewable Energy Company (ABREC) and the African Development...
