New French fund with 87.5 mln euros targets African solar development
The AFRIGREEEN Debt Impact Fund's first closing will finance on- and off-grid solar power plants for small- and medium-sized commercial and industrial consumers across the continent, the statement said.
The project aims to provide direct lending and asset-based debt facilities for regional and international developers and African commercial and industrial companies to develop solar infrastructure. The groups are looking to have a portfolio of twenty to thirty investments, with aim of meeting long-term debt financing needs of between 10 and 15 million euros, with an average of around 5 million euros over eight to ten years, the statement said.
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