Africa Renewable Energy Fund, L.P. (IFC-39225)

Regions
  • Africa
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jan 26, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
AFRICA RENEWABLE ENERGY FUND, L.P.
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 20.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS Jan 23, 2019

Disclosed by Bank Dec 8, 2017


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Project Description

The proposed project is for an equity investment by the IFC Catalyst Fund in Africa Renewable Energy Fund (“AREF” or the “Fund”), a US$200 million, 10-year, 2014 vintage private equity fund focused on investments in renewable energy projects in Sub-Saharan Africa.

Investment Description
  • International Finance Corporation (IFC)
Private Actors
  • Berkeley Energy -- Fund Manager

Berkeley Energy is an independent fund manager established in 2007 to invest in renewable energy in emerging markets.

Contact Information

Berkeley Energy
Luka Buljan
Investment Director
+254 700 470 391
lbuljan@berkeley-energy.com
Nairobi, Kenya
http://www.berkeley-energy.com

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/