AFRIGREEN DEBT IMPACT FUND
AFRIGREEN DEBT IMPACT Fund* ambitions to finance, through direct project lending and asset-based debt facilities, solar photovoltaic energy infrastructure distributed across Central and West Africa, with a particular focus on Nigeria, Ivory Coast, Senegal, Ghana and Cameroon.
The Fund is classified as article 9 of the SFDR and contributes to the achievement of the Sustainable Development Goals 7 (Clean and Affordable Energy), 9 (Industry and Infrastructure), 12 (Responsible Consumption and Production), and 13 (Action on Climate Change) set by the United Nations.
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* AFRIGREEN Debt Impact Fund is a French regulated AIF Fund only open to professional investors. The Fund 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.
RGREEN INVEST brings to the attention of potential investors the risks to which they are exposed by investing in the Fund. These risks will be detailed in the Fund’s regulation. Past performance is no guarantee of future performance.
C&I portfolio financing in Nigeria
USD 15 million senior debt facility
- 2 MWp ready to build projects
- 30 MW of pipeline within 36 months
- USD 15 million senior debt facility
More details about the project
Operator overview: Rensource, C&I solar, Nigeria
Rensource is a Nigeria-based company, founded in 2016, which develops, builds and operates hybrid solar plants that provide clean, reliable and affordable electricity to Nigerian C&I clients. Since inception, Rensource has developed and constructed a combination of about 10 MWp of solar PV and 3 MWh of storage capacity. Currently, Rensource has a C&I portfolio of over 17 MW under construction and 120 MW in its pipeline; cutting across East & West Africa. Its customers range from the agriculture, healthcare, education, real estate, and manufacturing sectors in Africa.
Closing date: July 2023
- Solar projects totalling 30 MWp
- 100% greenfield
- 100% located in Nigeria
- Offtakers include companies active in logistics, agriculture, manufacturing and education
- USD 15 million facility
- Secured Loan in USD
E&S: Category C project as per IFC PS categorization (Business activity with minimal or no adverse environmental or social risks and/or impacts).
- 7 – Affordable and Clean Energy
- 9 – Industry, Innovation and Infrastructure
- 12 – Responsible Consumption and Production
- 13 – Climate Action