British International Investment

Africa Renewable Energy Fund

AngolaCameroonEthiopiaGhanaMadagascarTanzaniaUgandaAfricaInfrastructure

The Africa Renewable Energy Fund (AREF) invests in small hydro, wind, geothermal, stranded gas, and solar projects across sub-Saharan Africa, excluding South Africa.

AREF, which is managed by Berkeley Energy, is one of the first pan-African private equity funds focused on developing renewable energy infrastructure.

Investments made by BII into this fund:

Investment name Commitment Region Sector Start date Status
Investment 01 $20m Africa Infrastructure October 2014 Active

Investments made by this fund into companies:

Investment name Country Region Sector Start date Status
Achwa 1 & 2 Uganda East Africa Infrastructure October 2014 Active
Achwa HPP3/4/5 Uganda East Africa Infrastructure September 2015 Active
Angola Hydro Angola Central Africa Infrastructure June 2023 Exited
APSD Ghana West Africa Infrastructure October 2016 Exited
Azimuth Ghana West Africa Infrastructure June 2017 Exited
BE Ghana Ghana West Africa Infrastructure March 2018 Exited
BE Uganda Uganda East Africa Infrastructure December 2016 Active
Bugoye Hydro Limited Uganda East Africa Infrastructure September 2015 Active
Corbetti Geothermal Ethiopia East Africa Infrastructure June 2014 Exited
Dibombe Cameroon Hydro Cameroon Central Africa Infrastructure August 2016 Exited
Kikagati Uganda East Africa Infrastructure September 2016 Active
Konikablo Ghana West Africa Infrastructure September 2016 Exited
Mahitsy Madagascar East Africa Infrastructure December 2018 Exited
Makambako Tanzania East Africa Infrastructure September 2016 Exited
Maraontsetra Madagascar East Africa Infrastructure December 2018 Exited
Sahanivotry Madagascar East Africa Infrastructure December 2018 Exited
Tsinjoarivo Madagascar East Africa Infrastructure December 2018 Exited

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