Access to electricity is still a major challenge in Africa. It’s 2022, and 600 million people in Africa still don’t access to electricity. About 50% of them live in the Democratic Republic of the Congo
, in a mix of junior and senior notes. The Energy Entrepreneurs Growth Fund offers financing and assistance to companies that increase access to energy in sub-Saharan Africa. EEGF offers catalytic financing and technical assistance to early and growth-stage companies that increase access to clean, safe, dependable, and affordable energy for off-grid households and businesses in Sub-Saharan Africa.
In addition to mezzanine capital, the fund provides equity and debt instruments to achieve tailored solutions that meet the changing needs of growing energy companies. With a fund life of 12 years, EEGF provides a longer investment holding and support period, recognizing the inherent need for such businesses in emerging economies to unlock value creation to their stakeholders.
“Collaboration between international growth capital providers is key to scaling clean energy businesses and to reaching underserved customers,” said Jonathan Berman, CEO of Shell Foundation. “Shell Foundation seeks to de-risk innovative, impactful ideas so others can invest. This deal further demonstrates that we and our colleagues can widen pools of investment opportunities for commercially-minded investors, and positively impact the lives of millions of people.
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