The Helios Climate, Energy Access, and Resilience (CLEAR) Fund, an Africa-focused private investment firm, has successfully achieved its final close securing eight anchor investments of $200m total.
The contributors include PIDG company InfraCo Africa, the Foreign, Commonwealth and Development Office (FCDO), and British International Investment (BII).
The CLEAR Fund has a mission of becoming the largest climate fund which is Africa-focused – set on achieving $400m in investments. This figure will provide investments into climate-focused businesses in Africa through the fund.
Helios will focus on five areas: green energy solutions, Climate-smart agriculture and food, green mobility and logistics, recycling and resource efficiency, and digital and financial climate enablers.
This funding will aid in the Africa’s movement towards a solar-powered future for its energy sector, which could aid in providing affordable regionwide energy access – in January 2024, the United Nations cited a 2022 study showing that 500m people living in Africa have no stable access to electricity.
Investing in Africa
Sub-Saharan Africa has been identified as having a potential investment opportunity of $193bn, despite currently attracting a 3% share of international energy investment.
Ross Ferguson, leader of the MOBILIST programme at the FCDO, who released the findings about Sub-Saharan Africa, says: “MOBILIST is proud to collaborate with Helios Investment Partners and InfraCo Africa Investment Ltd to mobilise commercial capital for Africa’s climate needs.
“This partnership will address Africa’s climate financing gap and advance efforts to overcome global climate challenges.”
The MOBLIST programme helped secure support from British International Investment, The European Investment Bank, The Emerging Markets Climate Action Fund, the Dutch Development Bank, and The Swiss Investment Fund for Emerging Markets.
Speaking on the fund from the UK, the UK Minister for Development Anneliese Dodds comments: “This Government is committed to restoring the UK’s leadership in climate action.
“The CLEAR Fund exemplifies how UK innovation can mobilize climate finance for Africa, aiding businesses in delivering climate-friendly solutions and advancing our mission for a world free from poverty on a liveable planet.”
Don’t miss Solar & Storage Live Africa, which will take place in Johannesburg in March 2025.
