Berkeley Energy has raised €130 million for its Africa Renewable Energy Fund II (AREF II). The fund will focus on the development, construction, and operation of renewable energy assets and technologies across sub-Saharan Africa.

The investment was raised from Proparco, CDP, CDC, FMO, Swedfund, Sustainable Energy Fund for Africa (managed by the African Development Bank) and the Clean Technology Fund (part of the Climate Investment Funds).

AREF II has a final target fund size o...