Norfund

🏙️🌱Investing NOK 235 million in sustainable cities Norfund is investing in The Urban Resilience Fund (TURF B), supporting sustainable urban infrastructure in African cities. The fund is managed by Meridiam, and focuses on climate-resilient initiatives, such as protecting vulnerable coastal cities from erosion and flooding. Today, more people live in cities than in rural areas, and by 2050, the world’s urban population will grow from the current 4.5 billion to 6.7 billion. “By supporting public transport, renewable energy systems, and efficient waste management, TURF contributes to economic growth and the development of sustainable cities,” says Carl Johan Wahlund, Senior Vice President for Green infrastructure at Norfund. 

It’s official! Today, the Minister of Development, Anne Beathe Kristiansen Tvinnereim, formally handed over the instructions for Norfund’s management of the new Ukraine mandate🇺🇦 This separate fund will support the country’s reconstruction by developing business activities and contribute job creation in Ukraine. The Norwegian government has allocated 250 million NOK to the mandate in 2024, through the Nansen programme.

Reducing deforestation and increasing yields in Indonesia with an Innovative Fund 🌿 Abler Nordic and Temasek Foundation 👏

Expanding much needed energy access in Sub-Saharan Africa🚀  Norfund has invested in the REPP2 fund, managed by Camco, which will provide renewable energy access to 7.7 million people in Sub-Saharan Africa.  The $107 million fund, supported by the Green Climate Fund, FMO - Dutch entrepreneurial development bank, BIO - the Belgian Investment Company for Developing Countries, Ceniarth, and Norad - Norwegian Agency for Development Cooperation, is a key step toward achieving sustainable energy access for all. By supporting small-scale, distributed renewable energy projects, REPP2 will develop 330 MW of new capacity, avoid CO₂-emissions, and enhance resilience for over 1 million people. 🔋 Why it matters:  - Around 750 million people in Africa still lack access to electricity.  - Innovative solutions, like decentralized solar systems, are beginning to bridge the gap.  - Affordable financing is critical to scale these solutions further. Achieving universal energy access by 2030 is possible, but it will require significant progress— through initiatives like REPP2, we are taking important steps to help reach the goal. Photo credit: ARC Power

📣The energy platform BECIS - Commercial Industrial Solutions announces $53 million in new equity financing to drive decarbonization across Asia. BECIS delivers decarbonization solutions across eight countries in Asia, including solar, bioenergy, and innovative new solutions in cooling and heating services. This achievement is made possible through the collaboration of Norfund, KLP, FMO - Dutch entrepreneurial development bank, Pula Investments, BERKELEY ENERGY, and Siemens Financial Services. With this funding, BECIS aims to achieve an ambitious target for the next two years of over 600 MWp of solar and 400 TPH of bioenergy assets while expanding its Energy as a Service (EaaS) platform. This will be an impactful contribution towards the transition to decentralized and renewable energy systems⚡  "KLP and Norfund are thrilled to support BECIS in their mission to drive sustainable growth in the region. BECIS empowers their clients to operate more sustainably with clean and reliable renewable energy,” Pål Helgesen, Investment Director of Norfund. Eren Ergin | Steffen Grosse | Richard Collenette, FCA | Ludger Middendorp

✨ New Investment Partnership in Indonesia!  We are proud to announce a new partnership between Indonesia Investment Authority (INA) and Norfund. We aim to make impactful joint investments and attract international co-investors in renewable energy, financial inclusion, and green infrastructure across Indonesia. "Our experience shows that investments are most effective when we mobilize additional capital and leverage local expertise. Indonesia will be an important market for us in the coming years, and we believe that our partnership with INA will make it possible for us to make a larger impact through future investments in the country," says Tellef Thorleifsson, CEO at Norfund. With over 280 million people and vast natural resources, Indonesia plays an important role in global climate efforts as one of the world's largest and fastest growing economies🏞️🌱

"We are partnering with Norfund and British International Investment in an agreement to create a bigger pipeline of development asset, which on its own IndiGrid would not be able to do" said HarsH Shah CEO of IndiGrid to CNBC-TV18 on our new partnership for transmission and battery storage in India, EnerGrid🔋⚡ See part of the interview⬇️

Exciting recognition for our investee, Two Six Zero Brands Africa! 🏆 "Agro Exporter of the Year" and "Young Entrepreneur of the Year" in Zambia! We’re very proud of this second-generation family-owned company, which works closely with smallholder farmers and operates Zambia’s first plant-based milk factory, creating innovative products 🫛🥛 🌱 The awards, presented by the Zambia Association of Manufacturers, highlight both the company’s impressive export efforts and CEO Gaurav V.’s visionary leadership. We invested in 260 Brands in 2022 to finance their soymilk production facility. Since then, we’ve supported the company with business support programs, focusing on wastewater treatment and leadership training - further contributing to their success and sustainability. Congratulations to the entire team at 260 Brands! 🎉

👩🌾🎣Strengthening Africa’s Food Systems! Norfund's partner AgDevCo has announced two new investments to develop African agribusinesses: 🐟 Tropo Farms Ltd., West Africa's leading tilapia producer, is set to expand production in Ghana with a $10 million investment. The goal of this investment is to:  ➡ Create new jobs, supporting over 900 employees and 3,000 market traders, most of whom are women  ➡Boost local supply of affordable and  high-quality fish, reducing reliance on imports.  ➡Meet Ghana’s growing demand for fish, a key protein source “This loan is a major milestone for Tropo Farms. It will expand our logistics and distribution network while bringing more benefits to the communities where we operate. We are pleased to partner with AgDevCo who brings flexible long-term capital to support our growth, as well as agribusiness expertise,” said Francisco Murillo, Tropo Farms CEO. 🌾 Agventure Limited in Kenya, supported by a $9.5 million investment, is a farmer-owned business at the forefront of regenerative agriculture Key impacts include:  🌱 Increasing local canola oil production under the Pure Mountain brand  🌱Providing high-quality certified seeds to over 700 farmers  🌱Promoting rotational farming practices that improve soil health in Kenya “Agventure is looking forward to working with AgDevCo to expand and strengthen our business and in doing so expand availability of regenerative agriculture solutions to many more farmers,” said Don White, Agventure’s CEO. Norfund, through its investment in AgDevCo, are proud to support Tropo Farms and Agventure. We look forward to seeing these investments create lasting impact by strengthening local food systems, creating jobs, and empowering communities across Ghana and Kenya.  

"Trasmission is a real bottleneck for transition, but in some areas you can leapfrog", our CEO Tellef Thorleifsson said at an International Energy Agency (IEA) panel on securely integrating solar and wind at COP29⚡🔌 See a snippet from the panel 👇