BII commits $20m to Acumen’s Hardest-to-Reach Initiative
The platform aims to expand access to affordable, reliable energy in underserved African markets.
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British International Investment (BII) has committed $20 million to Acumen’s Hardest-to-Reach (H2R) Initiative, which aims to expand access to affordable, reliable energy in underserved African markets. The capital will flow through H2R Amplify, the initiative’s debt-focused vehicle, which provides impact-linked loans and receivables financing to off-grid solar companies.
H2R operates through two complementary arms. H2R Amplify supports established solar businesses in scaling operations across frontier economies, while H2R Catalyze backs earlier-stage ventures with patient capital. H2R Catalyze has raised $57 million since its launch in 2023 and is already investing.
H2R Amplify has secured $123 million at first close and is structured to attract commercial investment by offering risk protection and enhanced returns through a tiered blended financing model.
Chris Chijiutomi, managing director and head of Africa at BII, commented: “With nearly 600 million people in Africa still lacking access to energy, we’re focused on investing in inclusive energy solutions, to close this gap. This partnership reflects BII’s commitment to backing investments in the most challenging markets, where our capital can have the greatest impact. We also recognise that women bear the disproportionate burden of energy poverty and so we’re pleased that H2R Amplify will seek to create economic opportunities for women through its off-grid solar investments.”
Jacqueline Novogratz, founder and CEO of Acumen, added: “BII’s partnership reflects a shared commitment to solving energy poverty in the hardest-to-reach markets. By expanding access to clean energy for millions of households and businesses, this initiative holds the promise to provide resilience, agency and dignity, along with light and power. BII’s investment shows how public and private institutions can mobilise the right kind of capital to build markets that endure and unlock human potential.”
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