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Press release
Energy Access Ventures Fund launched: boost for access
to energy in Sub-Saharan Africa
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Fund to be managed by Aster Capital – Energy Access Venture (EAV) jointly
backed by Schneider Electric, CDC Group – the UK Department for International
Development (DFID), European Investment Bank, FISEA – PROPARCO, OFID,
and AFD- FFEM
Fund has secured commitments of EUR 54.5 million to invest in African SME
with an aim to provide first ever electricity for a million people by 2020
Rueil-Malmaison (France) – March 2, 2015 – Schneider Electric in partnership with, CDC Group – the
UK Department for International Development (DFID), European Investment Bank, FISEA – PROPARCO,
OFID, and AFD- FFEM, announce the launch of the Energy Access Fund to improve access to
sustainable energy in Sub-Saharan Africa. The new fund will transform lives and stimulate economic
development across Africa by providing access to electricity for a million people by 2020.
The Professional Private Equity Fund which will be managed by Aster Capital and advised by Energy
Access Venture (EAV) company based in Africa, has secured commitments of EUR 54.5 million to invest
in 5-year instruments for around 20 African SME.
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625 million people living in sub-Saharan Africa lack access to electricity . Lack of electricity holds back
social progress, economic growth and environmental improvements. The Energy Access Ventures Fund
will to provide long-term funding to support access to energy for the poorest populations by strengthening
local energy infrastructure.
The Fund will target smaller businesses in Africa that specialize in promoting low-carbon and low cost
electricity access solutions in rural areas and close to main towns and that cannot access regular finance.
It will focus in a first instance on Burundi, Ethiopia, Kenya, Malawi, Mozambique, Rwanda, Tanzania,
Uganda, Zambia and Zimbabwe.
In addition to funding, a range of technical support will be provided to offer practical help and advice for
local businesses concerning management, governance, energy efficiency, and environmental best
practices. The Fund will also provide the following resources to its selected beneficiaries:
• Access to skilled professionals via Schneider-Electric operations staff (engineers, procurement
specialists, marketing experts and engineering consultants) to support local businesses and
share their skills to reinforce existing human capital;
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2014 Report World Energy Outlook by the International Energy Agency (IEA)
http://www.iea.org/publications/freepublications/publication/AEO_ES_English.pdf
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A social and environmental impact assessment of their activities to help reduce their
environmental impact;
Technical advice to help meet international compliance regulations;
The objective of the Energy Access ventures Fund is to combine economic investment, innovation, and
skill development. The Fund will be backed by the experience acquired as the investment arm of the
Schneider Electric Energy Access fund (SEEA), to help develop entrepreneurial initiatives to improve
access to energy.
About Schneider Electric
A global specialist in energy management with operations in over 100 countries, Schneider Electric offers integrated
solutions across multiple market segments, including leadership positions in Residential & Non-residential Buildings,
Manufacturing & Machine Tooling, Utilities & Infrastructures, and Data Centres & Networks. Focused on making
energy safe, reliable, efficient, productive and green, the Group’s 170,000-plus employees achieved sales of 25
billion euros in 2014, through an active commitment to helping individuals and organisations make the most of their
energy.www.schneider-electric.com
About CDC Group
CDC is the UK government-owned development finance institution that uses its own balance sheet to invest in the
developing countries of Africa and South Asia.
CDC’s mission is to support the building of businesses in Africa and South Asia, creating jobs and making a lasting
difference to people’s lives in some of the world’s poorest places. Under its new strategy, CDC provides debt and
direct investment to businesses as well as acting as a fund-of-funds investor. CDC now only makes new investment
commitments in Africa and South Asia. It has net assets of £2.8bn. www.cdcgroup.com
About the Impact Programme
The Impact Programme was launched by the UK Department for International Development (DFID) in 2012 to
catalyse the market for impact investment in Sub-Saharan Africa and South Asia. As part of this programme, the
DFID Impact Fund, a fund of funds managed by CDC, the UK’s Development Finance Institution, aims to provide
finance to more than 100 enterprises via impact investment intermediaries and catalyse additional private capital.
http://www.theimpactprogramme.org.uk/
About the European Investment Bank
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member
States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
About PROPARCO
PROPARCO est une institution financière de développement conjointement détenue par l’Agence Française de
Développement (AFD) et par des actionnaires publics et privés du Nord et du Sud. La mission de la société est de
favoriser les investissements privés dans les pays émergents et en développement en faveur de la croissance, du
développement durable et de l’atteinte des Objectifs du Millénaire (OMD). PROPARCO finance des opérations
économiquement viables, socialement équitables, soutenables sur le plan environnemental et financièrement
rentables. PROPARCO figure parmi les principales institutions financières de développement bilatéral au niveau
mondial. La société investit dans un champ géographique allant des grands pays émergents aux pays les plus
pauvres, notamment en Afrique. www.proparco.fr
About FISEA
The Investment and Support Fund for Businesses in Africa (FISEA) was set up in 2009. It is held by Agence
Française de Développement (AFD) and managed by PROPARCO. This fund makes equity investments in
businesses, banks, microfinance institutions and investment funds in Sub-Saharan Africa. FISEA has a five-year
investment target of EUR 250m, in addition to private investment funds. It targets the most unstable or post-crisis
regions, as well as sectors traditionally bypassed by investors, such as agriculture, microfinance and health care. A
EUR 5m grant has been earmarked for technical assistance to companies in its investment portfolio.www.fisea.com
About OFID
The OPEC Fund for International Development (OFID) is the development finance institution established by the
Member States of OPEC in 1976 as a collective channel of aid to the developing countries. OFID works in
cooperation with developing country partners and the international donor community to stimulate economic growth
and alleviate poverty in all disadvantaged regions of the world. It does this by providing financing to build essential
infrastructure that meets basic needs—such as food, energy, clean water and sanitation, healthcare and education—
and works to promote productivity, competitiveness and trade. Energy poverty alleviation is a key strategic goal for
OFID, and it is working with its partner countries to prioritize universal access to sustainable energy services. For
more information, please visit www.ofid.org
About FFEM
The French Facility for Global Environment / Fonds Français pour l’Environnement Mondial (FFEM) is a bilateral
public fund initiated by the French Government. The FFEM co-finances projects that encourage the protection of the
global environment in developing countries. Its co-financing is used for the implementation of pilot projects that
combine environmental protection and economic development in the recipient countries. Its activities focus on the
topics of biodiversity, international waters, the climate change, land degradation and desertification, persistent
organic pollutants and the stratospheric ozone layer. By the end of 2014, the FFEM has co-financed 275 projects with
€317m. www.ffem.fr
About Energy Access Ventures
Energy Access Ventures (“EAV”) is the investment advisor to EAF. Its initial team is Dr Michael Gera, Simon
Karunditu and Emmanuel Beau. The team has significant investment, operational and investment experience and
will be largely based on the ground in East Africa www.eavafrica.com
Press Contact
Schneider Electric
Sophie Souquet
Tel. : +33 (0)1 41 29 84 18
[email protected]
European Investment Bank
Richard Willis
Tel.: +352 4379 82155 / +352 621 555 758
[email protected],
Impact Programme
Clare Convey
Tel: +44 781 806 5594.
[email protected]
FISEA (PROPARCO)
Fanette Bardin
Tel : + 33 1 53 44 31 49
[email protected]
OFID
Reem Aljarbou
Tel: + 431 515 64 291
[email protected]
FFEM - AFD
Valérie Fakir
Tél : + 33 1 53 44 39 41
[email protected]