Acumen's Hardest-to-Reach Initiative raises $250m
The vehicle aims to expand clean energy access across sub-Saharan Africa.
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Impact investor Acumen has announced that its Hardest-to-Reach Initiative (H2R) has secured a total of $250 million in blended capital to expand clean energy access across sub-Saharan Africa.
The initiative aims to reach nearly 70 million people across underserved geographies in sub-Saharan Africa, including 50 million first-time energy users in markets where traditional capital has not been able to operate. H2R combines a patient capital, market-building facility, Catalyze, with a debt fund, H2R Amplify. Together, the two vehicles are designed to unlock clean, affordable, distributed energy for households and small businesses across 17 countries, including Malawi, Zambia, and Somalia
“Over the past two years, we brought together partners who aligned behind one goal: to unlock energy access to the most remote and vulnerable areas. Moving from an announced strategy to fully committed capital gives us the foundation to carry this work forward with clarity and purpose,” said Jiwoo Choi, head of H2R at Acumen.
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