Camco

And breathe! Wow, what an end to 2024 it's been here at Camco. I feel I need to pinch myself when I see how much has come together over the last few weeks, setting up the prospect of an electrifying 2025 (pun very much intended!). Most recently, we reached first close on our REPP 2 blended finance fund on USD 107m with a further USD 78m committed subject to conditions. The upshot of this is that we will soon be able to start deploying finance through the fund to support the African grid of the future, which is decentralised, renewable and reliable. It's difficult to overstate the amount of hard work and sheer determination that has gone into getting this this point. I take my hat off to everyone involved in getting REPP 2 to first close, from the team here at Camco (Ben Hugues, Yuliia Uhorska and Aili Judstrom to name but a few) to our investors, legal advisors and more. Read the press release for more: https://lnkd.in/gUdejyVX    While the REPP 2 team worked on finalising the deal in December, on the other side of the world our Pacific team secured a combined funding commitment of GBP 23.9m from the UK and New Zealand governments for our TIDES (Transforming Island Development through Electrification and Sustainability) fund. Like REPP 2, TIDES is a blended finance fund and is focused on catalysing clean energy development in the Pacific and reducing communities’ reliance on expensive and polluting imported diesel. The UK/NZ pledge of support represents another significant achievement for Camco and bolsters our plans to expand into the region. Back to Africa, we had more good news in November as our C&I-focused financing platform Spark Energy Services (Spark) met all the conditions precedent on its debt facilities with EIB, Symbiotics and EEGF, a fund managed by Triple Jump. This provides Spark with more critical resources to expand sustainable power provision to businesses in the region. Taking stock of these achievements fills me with great excitement about what lies in store for Camco and our funds in 2025 as we focus on doing what we like to do most, which is to deploy finance and support the companies and projects delivering transformational impact on the ground in Sub-Saharan Africa and, soon, the Pacific. Check our website and LinkedIn for regular updates on REPP 2, TIDES, Spark and other funds that we look forward to telling you about in 2025. In the meantime, you can find out more about our work with these interactive reports: https://lnkd.in/gQnz7AhG   https://lnkd.in/g3yuyieJ / https://lnkd.in/gXbrvagy That’s all from me. Season’s greetings and see you in 2025!

Thank you to everyone who joined Camco and Power Africa for the recent virtual roundtable “From Awareness to Action: Addressing SEAH in the Renewable Energy Sector”. The discussions highlighted critical challenges and actionable strategies for creating safer, more inclusive environments for women and girls in the sector. 🔑 Key insights: Take a look at some of the session's key takeaways in the graphic below. 🎥 Missed the session? Watch it here : https://lnkd.in/edESXDKW 🔗 Additional resources: Camco Environmental and Social Management System Toolkit https://lnkd.in/eHZfTvZs Building a Safer World: Toolkit for Integrating GBV Prevention and Response into USAID Energy and Infrastructure Projects https://lnkd.in/eR3G3t2y IFC Tool Suite for Addressing GBVH and Building Respectful Workplaces https://lnkd.in/e4WUDk3S A special thank you to our expert speakers Fieke de Jong, Inka Schomer, James Obondo and Lonah Wanjama, and our moderator Laura Lahti. Let’s continue to work together to create safer and more inclusive spaces in the renewable energy sector. 💡 #GenderBasedViolence #RenewableEnergy #GenderEquity #InclusiveWorkplaces #SEAH #EnergySector

Camco-managed REPP (Renewable Energy Performance Platform) is looking for a Board Chair. 👇 See below for more.

⏰ | WEBINAR REMINDER Join Camco and Power Africa tomorrow for "Powering Change: Innovative Approaches to Gender Equity in Energy". Register here 🔗👉 https://lnkd.in/eJ2MxqG9

⚡️ Breaking news ⚡️ We’re celebrating today after reaching first close on our REPP 2 fund with USD 185 million in total commitments! Investors Green Climate Fund, Norfund, FMO - Dutch entrepreneurial development bank, BIO - the Belgian Investment Company for Developing Countries, Ceniarth and REPP (Renewable Energy Performance Platform) have formally committed to invest USD 107 million in REPP 2, with a further USD 78 million committed subject to conditions. REPP 2 is a USD 250m private debt fund that builds on the legacy of REPP, which is managed by Camco and funded by UK International Development. It is structured as a blended finance fund to leverage public and private investors to invest in Sub-Saharan Africa’s distributed and small-scale renewable energy market. To have the support of so many world-leading investors who share our vision for African grid of the future – which is decentralised, renewable and reliable - and recognise the critical role of blended finance in the sector, is testament to the value they see in REPP 2. With first close achieved, we are excited to now turn out attention to the real work, which is to get REPP 2 into implementation phase and delivering substantial climate and economic impact in Sub-Saharan Africa while ensuring sustainable returns for investors. Over its lifetime, REPP 2 plans to: ➡️ Make 35+ investments in decentralised renewable energy projects or companies ➡️ Provide 7.7 million people with improved access to clean and affordable power ➡️ Mitigate over 12.7 million tonnes of greenhouse gas emissions ➡️ Invest USD 70 million in gender-focused projects ➡️ Mobilise USD 786 million in third-party funding for green growth Today’s news comes after many months of hard work and determination from all sides of the negotiating table. We would therefore like to take this opportunity to extend our heartfelt thanks to Fedde Zwart, Dorina Peristeri, Jana Bannat, Mark Davis, Rivhatshinyi Mandavha, Reza Mardanghom, Per Kristian Sbertoli, Marnix Monsfort, Tellef Thorleifsson, Diane Isenberg, Simone Verbraeken, Sophie Andrews, Peter Coveliers, Andrew Lucas, Usher, E., Daniel Farchy, Kavita Sinha, Nestan Devidze, Helena Gostelow, Stefan Freeman, as well to Camco’s Benjamin Hugues, Yuliia Uhorska, Geoff Sinclair and Aili Judström, to name but a few. 🔗 Read the press release for more: https://lnkd.in/e5u6vJAd #climatefinance #blendedfinance #impactinvesting #sustainability #energyaccess #renewableenergy #emergingmarkets #subsaharanafrica

EVENT 📅 | Powering Change: Innovative Approaches to Gender Equity in Energy Join Camco and Power Africa on Wednesday 11 December for a webinar on integrating gender equity into energy access market strategies. Access to electricity and opportunities related to productive uses of energy (PUE) can transform lives, yet deep-rooted challenges like unequal resources, limited training opportunities and the disproportionate burden of unpaid work prevent women from fully capitalising on these prospects. To overcome these barriers, tailored approaches are essential. This session will showcase practical case studies from decentralised renewable energy (DRE) businesses, showing how PUE strategies can be tailored to benefit women and girls, in line with 2X Challenge Criterion 5. Speakers: 🎤Habiba Ali, MD/CEO, SOSAI Renewable Energies Company 🎤Luis Marquez, Director of Advisory Services, Value For Women Ltd. 🎤Michael Kuntz, CFA, Co-CEO and Co-Founder, Simusolar Tanzania/Tulima Solar Opening remarks: Ieva Indriunaite (Indriūnaitė), Policy and Partnerships Manager, Camco Moderator: Karen Stefiszyn, Gender, Climate and Climate Finance Advisor, RTI International   Register now to gain practical insights into successful gender equity strategies, best practices and solutions to the common challenges faced by entrepreneurs in the PUE sector. 🔗👉 https://lnkd.in/eJ2MxqG9 Don’t miss this important conversation on how energy can empower women and drive gender equity in the sector! This webinar is part of Camco's REPP 2 Impact Training Series under the REPP 2 Technical Assistance Facility, funded by Norad - Norwegian Agency for Development Cooperation. #GenderEquity #EnergyAccess #WomenInEnergy #GenderLensInvesting #REPP2 #EnergyForAll #CleanEnergy #2XChallenge

A blended finance fund created by Camco to catalyse clean energy development in the Pacific has secured a combined funding commitment of GBP 23.9m from the UK and New Zealand governments. With Pacific Island Countries grappling with the worsening effects of climate change, TIDES (Transforming Island Development through Electrification and Sustainability) is designed to deliver deep impact by strengthening the region’s renewable energy and energy efficiency sectors. It will also increase energy access and reduce communities’ reliance on expensive and polluting imported diesel. Expected to reach financial close in mid-2025, the innovative fund is the first of its kind for the region, blending donor funding with private sector capital. It will provide flexible financing to local renewable energy developers behind zero-emissions projects across the full range of sizes, from mini-grids to large grid-connected systems. TIDES will be supported by three market development facilities, jointly enabling capital mobilisation and a rapid scale up of renewable energy development in the region. The announcement comes after the UK’s Foreign Secretary David Lammy met with his New Zealand counterpart Winston Peters on Friday to discuss a wide range of shared priorities between the countries, ranging from trade and economic growth to security challenges and climate action. For more, visit: https://lnkd.in/ePsRQ6Ke and https://lnkd.in/eNaTbdbA. #climatechange #renewableenergy #energyefficiency #pacificislands #blendedfinance

We are delighted to see P-REC Aggregation Facility (PAF) has been chosen from over 240 submissions for Catalytic Climate Finance Facility (CC Facility)'s second cohort. For over two years, Energy Peace Partners (EPP) and Camco have been working jointly on designing and fundraising for the PAF, a USD 11 million pilot project finance facility originated by EPP. The impact-focused facility is designed to mobilise capital for solar and hydro mini-grid projects in fragile, energy-poor countries in Sub-Saharan Africa through the origination, aggregation and sale of Peace Renewable Energy Certificates (P-RECs). Through the pilot, EEP and Camco aim to prove both the market gap for P-RECs and the effective design of an impact REC aggregation facility, paving the way for a scalable, high-impact International-REC (I-REC) aggregation facility for the region. The CC Facility’s grant is part of USD 2 million being shared between five market-ready blended finance vehicles and will help accelerate PAF’s fundraising towards the anticipated launch in early 2025.   The CC Facility is a partnership between Climate Policy Initiative and Convergence Blended Finance and funded by Global Affairs Canada | Affaires mondiales Canada, Australian Department of Foreign Affairs and Trade, and Bill & Melinda Gates Foundation. 🔗 Learn more here: https://lnkd.in/gF6YY3m4 📷 Pic caption: P-RECs issued by EPP from this solar project by Nuru in DRC were purchased by Microsoft as part of the first-ever P-REC transaction in 2020.

🚨 Event reminder Join us on Wednesday for the virtual roundtable "From Awareness to Action: Addressing SEAH in the Renewable Energy Sector", hosted by Camco and Power Africa. Don't miss out - register now and be part of the conversation to help shape a safer, more inclusive future for the sector. Register here ➡️ https://lnkd.in/eitgeVnW #RenewableEnergy #SEAH #SustainableDevelopment #Roundtable

The renewable energy sector is key to equitable and sustainable development but creating a safe and inclusive environment remains challenging. SEAH (sexual exploitation, abuse and harassment) poses significant risks, especially for women and marginalised groups. To address these challenges, Camco and Power Africa are hosting a virtual roundtable: “From Awareness to Action: Addressing SEAH in the Renewable Energy Sector.” 📣 This session is open to the public and specifically designed for project developers, senior management, E&S professionals and community liaison officers. It will be moderated by Camco’s Laura Lahti with contributions from Fieke de Jong, Inka Schomer, James Obondo and Lonah Wanjama. Why attend? Enhance your knowledge, foster safer work environments and support a more equitable sector. Register now to join the conversation: ➡ https://lnkd.in/eitgeVnW This roundtable is part of Camco’s REPP 2 Impact Training Series under the REPP 2 Technical Assistance Facility, funded by Norad - Norwegian Agency for Development Cooperation. #renewableenergy #SEAH #sustainabledevelopment #roundtable #repp2 #projectdevelopers