AFRIGREEN DEBT IMPACT FUND
OUR PROJECTS
AFRIGREEN DEBT IMPACT Fund* ambitions to finance, through direct project lending and asset-based debt facilities, solar photovoltaic energy infrastructure distributed across Central and West Africa, with a particular focus on Nigeria, Ivory Coast, Senegal, Ghana and Cameroon.
The Fund is classified as article 9 of the SFDR and contributes to the achievement of the Sustainable Development Goals 7 (Clean and Affordable Energy), 9 (Industry and Infrastructure), 12 (Responsible Consumption and Production), and 13 (Action on Climate Change) set by the United Nations.
For any questions, please contact our team: afrigreen@rgreeninvest.com
* AFRIGREEN Debt Impact Fund is a French regulated AIF Fund only open to professional investors. The Fund applies IFC Performance Standards and EIB Environmental & Social Standards. The Fund will follow an environmental and social management system under which all projects will be audited to assess positive and negative impacts in terms and environmental and social aspects.
AFRIGREEN pays specific attention to the risk of forced labour being used in the production of solar photovoltaic panels and their components. It condemns the use of such forced labour for the production of solar photovoltaic panels or their components.
RGREEN INVEST brings to the attention of potential investors the risks to which they are exposed by investing in the Fund. These risks will be detailed in the Fund’s by-laws. Past performance is no guarantee of future performance.
C&I portfolio financing in Nigeria
USD 15 million senior debt facility
Transaction overview:
- 2 MWp ready to build projects
- 30 MW of pipeline within 36 months
AFRIGREEN commitment:
- USD 15 million senior debt facility
More details about the project
Operator overview: Rensource, C&I solar, Nigeria
Rensource is a Nigeria-based company, founded in 2016, which develops, builds and operates hybrid solar plants that provide clean, reliable and affordable electricity to Nigerian C&I clients. Since inception, Rensource has developed and constructed a combination of about 10 MWp of solar PV and 3 MWh of storage capacity. Currently, Rensource has a C&I portfolio of over 17 MW under construction and 120 MW in its pipeline; cutting across East & West Africa. Its customers range from the agriculture, healthcare, education, real estate, and manufacturing sectors in Africa.
Closing date: July 2023
Portfolio:
- Solar projects totalling 30 MWp
- 100% greenfield
- 100% located in Nigeria
- Offtakers include companies active in logistics, agriculture, manufacturing and education
AFRIGREEN offering:
- USD 15 million facility
- Secured Loan in USD
E&S: Category C project as per IFC PS categorization (Business activity with minimal or no adverse environmental or social risks and/or impacts).
SDG contributions:
- 7 – Affordable and Clean Energy
- 9 – Industry, Innovation and Infrastructure
- 12 – Responsible Consumption and Production
- 13 – Climate Action
Odasco portfolio financing in Morocco
EUR 7.2 million senior debt facility
Project overview:
- Construction and operation of of a portfolio of 1,500 distributed energy generation units (solar PV) to power Orange Maroc’s telecom towers across the country
- The Project is owned by Telecom Solar Morocco 1, a company owned by Odasco LLC
- The Project will be built and operated by Odasco LLC
AFRIGREEN commitment:
- EUR 7.2 million senior secured debt facility
More details about the project
Operator overview: Odasco LLC (UAE)
ODASCO, established 30 years ago with its headquarters in Dubai, UAE, offers a comprehensive range of engineering and development services focused on infrastructure, sustainability and renewable energy R&D. The company provides end-to-end, turnkey solutions for projects in water management, renewable energy, and agriculture across the MENA region.
Closing date: September 2024
AFRIGREEN offering:
- USD 7.2 million senior secured loan
E&S: Category C project as per IFC PS categorization (business activity with minimal or no adverse environmental or social risks and/or impacts). An Environmental and Social Action Plan has been developed jointly with the company.
SDG contributions:
- 7 – Affordable and Clean Energy
- 12 – Responsible Consumption and Production
- 13 – Climate Action
Sandveld Solar Park financing in Botswana
USD 2.55 million senior secured debt facility
Project overview:
- Construction and operation of a 4.5 MWp ground-mounted solar PV project at ready-to-build stage and and the associated 4-km long medium voltage overhead powerline, all located in Ghanzi, Botswana
- The Project is owned by Sandveld Solar Park (Pty) Ltd, a joint venture between Energy Systems Group (Pty) and Sahara Renewables Group
- The Project will be built and operated by New Sahara Ventures
AFRIGREEN commitment:
- USD 2.55 million senior secured debt facility
More details about the project
Operator overview: Energy Systems Group (Botswana) and Sahara Renewables Group (Zimbabwe)
Energy Systems Group, based in Gaborone, Botswana, is a leading provider of renewable energy solutions with over 20 years of experience in the industry. As a developer and an integrated Engineering, Procurement, and Construction (EPC) company, it specializes in solar energy and mechanical installations, offering a comprehensive suite of services that include development, design, installation, operation, and maintenance.
Sahara Renewables Group is focused on implementing sustainable renewable energy and community centered solar farms across the SADC region, with a pipeline of close to 300 MW covering C&I and utility scale markets in Botswana, Zambia, and Zimbabwe.
Signing date: October 2024
AFRIGREEN offering:
- USD 2.55 million senior secured loan
E&S: Category B project as per IFC PS categorization at least for the construction phase (“activities with potential limited adverse environmental or social risks and/or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures”). Potential impacts will be mitigated through the implementation of an Environmental and Social Action Plan.
SDG contributions:
- 7 – Affordable and Clean Energy
- 12 – Responsible Consumption and Production
- 13 – Climate Action