IFC proposes investment in Cygnum Capital fund
The Facility for Energy Inclusion finances decentralised renewable energy projects.
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The International Finance Corporation (IFC) has disclosed a proposed investment of up to $40 million in the Facility for Energy Inclusion (FEI), a pan-African structured debt fund that finances decentralised renewable energy projects. The fund is managed by Cygnum Capital.
The proposed equity investment forms part of FEI’s plan to increase its assets under management to $750 million.
FEI invests in decentralised renewable energy ventures across Africa, including solar home systems, mini-grids, small to medium-scale independent power producer projects, telecommunications energy servicing companies, and commercial and industrial energy operators.
Existing limited partners in the fund include the African Development Bank, KfW, Norfund, the European Commission, and the Clean Technology Fund.
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