Camco Makes $185M First Close on Africa Renewable Energy Debt Fund

London-based climate and impact fund manager Camco announced the $185M first close of its new Renewable Energy Performance Platform (REPP) 2 debt fund, which will focus on renewable energy opportunities in emerging African markets.

The total raised for the first close is composed of $107M in commitments alongside an additional $78M subject to certain undisclosed conditions. Camco said REPP2 has so far been backed by the Green Climate Fund, Norfund, FMO, BIO, Ceniarth, and the Renewable Energy Performance Platform by UK International Development.

The REPP 2 aims to deliver climate-, economic-, and gender-related impacts while maintaining a sustainable return on investment. It is a blended finance vehicle designed to mobilize public and private capital for Sub-Saharan Africa's small-scale renewable energy sector. By doing so, it aims to accelerate the region's decarbonization efforts and bridge the $22B annual funding gap to achieving Sustainable Development Goal 7 of the UN’s Sustainable Development Goals, established in 2015.

Source: https://www.camco.fm/post/camco-achieves-first-close-on-repp-2-blended-finance-fund