Stichting And.Green Fund - USD 10 mln debt
&Green is a Debt Fund, incorporated by IDH in 2017, with the Norwegian Government as anchor investor. The Fund’s mission is to deliver inclusive, sustainable, and deforestation free commodities-/forest products i.e. palm oil, soy, livestock, rubber, and plantation forestry. As part of its mission, these projects need to be embedded in a Landscape Protection Plan. The Fund’s goal is to prove that financing inclusive, sustainable and deforestation-free commodity production can be commercially viable and replicable.
Mekong Timber Plantations Co. Ltd - USD 5 mln debt
Mekong Timber Plantations Limited (“MTP”) is one of Laos’ largest forestry plantation companies with a total land of 24,099 ha, under a 50-year concession until 2049. MTP is located across central Laos (Khammoune, Bolikhamxai, Vientiane and Xengkuang). Total plantation area is 10,898 ha of high-quality eucalyptus and acacia, all FSC certified. MTP is an investee company of the New Forests Tropical Asia Forest Fund (“TAFF”), a fund focused on certified plantation forestry with an emphasis on technological, silvicultural, and ESG improvements. With FMO’s financing, MTP aims to further expand its plantation area and to establish an integrated saw log, veneer and chipping mill.
Africa Renewable Energy Fund II – EUR 10.0 mln equity
The Africa Renewable Energy Fund II (“AREF II”) is a private equity fund investing in clean energy generating assets across Sub-Saharan Africa (excluding South Africa). AREF II is the follow-on fund of the AREF, in which FMO invested in 2014 via AEF and Building Prospects and is managed by Berkeley Energy (the “Fund Manager”). By investing in the Africa Renewable Energy Fund II, AEF and BP seek to address the market need for energy in Africa in a sustainable and responsible manner, by increasing the production of clean energy and targeting the Least Developed Countries (“LDC”). BP and AEF have committed EUR 10 million each.
d.Light Design Inc. - USD 0.61 mln debt topup
d.light is the market leader in distributed solar power for the 2.3 bln people in the developing world without reliable electricity. D.light’s products are available in over 70 countries worldwide. The aim of the project is to electrify 300 off-grid private clinics across rural Kenya. These off-grid clinics will gain access to reliable renewable electricity. Sales to the
Africa REN Energy S. A. - EUR 5 mln debt/equity
Africa REN AssetCo is a platform company that will be established. It is the intention that the Africa REN platform will grow into a larger IPP active in West Africa, owning and operating renewable energy projects. Africa REN will own and operate the Senergy 2 solar PV plant in Senegal (in operations), Kodeni Solar (a solar PV plant in Burkina Faso which will commence construction early 2021), and Walo Storage (solar-powered storage facility in Senegal which will commence construction mid 2021). The Africa REN platform will aim to contribute to the development, construction and operations of (greenfield) renewable energy projects in low-income sub-Saharan countries. All projects owned by the Africa REN platform will provide clean and reliable electricity to countries which have low electrification rates, at lower prices than current thermal power stations.
Medical Credit Fund II Cooperatief U.A. - EUR 5 mln debt
Medical Credit Fund Coöperatief U.A., is a Dutch entity affiliated with the PharmAccess Group, a Dutch NGO with a focus on making inclusive health markets work in sub-Saharan Africa. The project aims to provide financing and technical assistance to about 2,500 SMEs active in the health sector in Sub-Saharan Africa. Such financing is highly additional in these markets and leads to better health, an essential component for reducing inequalities.
Mawingu Networks Limited - EUR 1.5 mln debt
Founded in 2013, the Kenya based Mawingu Networks seeks to leverage its low-cost distribution infrastructure and proprietary technology platform to provide internet to rural and peri-urban unconnected communities in Kenya, with expansion plans across East Africa. The company is a Wireless Internet Service Provider (WISP), which offers business, home and public internet services that are low-cost and reliable with unlimited data.
Greenlight Planet Incorporated - USD 2.5 mln debt
Greenlight Planet, Inc. (active under the brand name SunKing) is one of the leading providers of Off-Grid solar lanterns and home systems in Sub-Saharan Africa, and in addition has a global footprint in direct sales through various partners. The company’s business model in SSA consists of the design, manufacture, distribution, and financing of various solar-powered energy solutions, through a Pay-As-You-Go offering. Greenlight Planet provides clean and green first time energy access to households in areas with unreliable or non-existent grid connection. Increased energy access contributes to productivity of households and economic growth (lighting and charging allows work and study beyond sunset), and helps power small businesses.