AGG – The AfricaGoGreen Fund for Renewable Energy and Energy Efficiency
Sustainable Development Goals (SDGs) targeted
Description of the Project
The AfricaGoGreen Fund for Renewable Energy and Energy Efficiency S.A., SICAV-RAIF (AGG) was launched in 2020 by KfW Development Bank on behalf of the German government to promote private investments that mitigate or reduce the emission of Greenhouse Gases. The fund is backing financial and non-financial institutions developing and/or investing in eligible energy efficiency and renewable energy projects in Africa.
Initially targeting the West Africa region, AGG is expected to expand to the whole continent and to play an active role in the energy transition of Africa by providing medium and long-term financing, guarantees and specific technical assistance.
Innpact S.A. was retained by KfW to facilitate the design and launch of AGG. Innpact Fund Management S.A. acted as the Alternative Investment Fund Manager (AIFM) until October 2022, as originally planned with KfW.
- Name: AfricaGoGreen Fund for Renewable Energy and Energy Efficiency S.A., SICAV-RAIF
- Inception: December 2020
- Initiators: BMZ – German Federal Ministry for Economic Cooperation and Development and KfW – German state-owned Development Bank
- Portfolio Manager: Lion’s Head Asset Management Ltd
- Sector: Renewable Energy and Energy Efficiency
- Geographic Focus: Africa
- Target Financial Intermediaries: Financial and non-financial institutions developing and/or investing in eligible energy efficiency and renewable energy
- Financial Instruments: Private equity, private debt, or guarantees
- Type: Luxembourg SICAV RAIF
- SFDR Classification: Article 9
- Info: www.agg-fund.com
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