Public Management

Camco seeks $1.6bn to accelerate electrification in Africa

Camco seeks $1.6bn to accelerate electrification in Africa
Friday, 17 November 2023 04:29

Camco, a specialized impact fund manager focusing on sustainable energy and climate finance, is planning to raise $1.6 billion for electrification projects in Africa through its Renewable Energy Performance Platform 2 (REPP 2) debt fund.

According to information relayed by Bloomberg on Thursday, November 16, citing Benjamin Hugues, the Investment Director at Camco, REPP 2 will devote 50% of these assets to the development of mini-grids and grids on isolated sites - 40% will be directed towards solar, wind, and hydroelectric power plants with a capacity of less than 25 megawatts, while the remaining portion will be reserved for domestic solar systems.

Hugues explained that the fund aims to secure $230 million directly from various financial institutions and governments, including the Green Climate Fund and the UK government. Collaborating with other donors and private investors, the goal is to raise a total fund of $1.6 billion, aiming to address the energy deficit in Africa, where 600 million people still lack access to electricity.

The first phase of this project (REPP 1) was launched in 2015 and successfully raised $120 million and mobilized nearly $500 million in co-financing. The expansion into REPP 2 underscores Camco's commitment to advancing sustainable energy initiatives in Africa, contributing to the continent's energy access and environmental resilience.

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
(EBID) - The Board of Directors of the ECOWAS Bank for Investment and Development (EBID) held its 92nd Ordinary Session on June 30, 2025. The Board...
• The IMF approved a $261.9 million disbursement under DR Congo’s credit program• Economic growth hit 6.5% in 2024, driven by the extractive sector•...
• Ghana’s Parliament approved a $360 million loan from the World Bank’s IDA• The funds will help pay road sector arrears, support vulnerable groups,...
(AMETRADE) - The 15th edition of the annual Africa PPP Summit (#APPP2025) is set to take place on 28 – 31 October 2025 at Hilton Hotel, Windhoek, Republic...
Most Read
01

Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...

Telecoms: Lebara Enters Nigerian Market with Strong Competitive Ambitions
02

Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...

Côte d’Ivoire’s Fuel Price Cuts Haven’t Slashed Transport Costs–Yet
03

• BOAD releases CFA10 billion ($17.8 million) to support Boungou and Wahgnion gold mines.• Burkina F...

BOAD Grants CFA10 Billion to Revive Boungou and Wahgnion Gold Mines in Burkina Faso
04

In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...

In Five Years, Francophone Africa Will be A Major Force in African Tech –Régis Bamba
05

• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...

Israel-Iran conflict raises new threats for global shipping and oil trade
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.