R100m AfDB boost for clean energy

first_img3 June 2009 SAinfo reporter South Africa will account for 60-75% of the fund’s overall investments, while up to 25-40% will be earmarked for other Southern African Development Community countries. “The Evolution One Fund will be the bank’s first investment in a fund with a specific focus on clean energy and technology investments,” the bank said in a statement last week. The fund will seek to invest predominantly in growth-phase businesses, particularly in eight high-growth sectors, namely clean energy/energy efficiency (up to 50% of its investments), efficient and clean manufacturing processes and technologies, air quality and emissions control. The African Development Bank has approved a R100-million investment in the Evolution One Fund, the first specialised private equity fund focused on the acceleration and deployment of clean energy and sustainable technologies across southern Africa. Would you like to use this article in your publication or on your website? See: Using SAinfo material Other areas include water quality and management, waste management, agribusiness and forestry, natural products, organics and natural health, and environmental real estate. Growth-phase businesses “The investment therefore supports an innovative vehicle that will boost economic activity in this emerging field, and contribute to the development of sustainable private sector enterprises.” The 10-year private equity fund, managed by Cape Town-based Inspired Evolution Investment Management, will make equity and equity-related investments in sustainable projects and companies with the aim of not only achieving carbon reductions, but also ensuring the sound environmental, social and economic performance of these investments.last_img

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