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​Swedfund commits 15 MUSD to renewable energy in Africa

Press release   •   Jan 15, 2020 12:15 UTC

Swedfund commits 15 million dollars to Metier Sustainable Capital II, a fund focused on renewable energy in sub-Saharan Africa. In addition to investments in renewable energy, the fund will also invest in projects for resource efficiency in areas such as water and waste management.

Metier Private Equity International is an experienced fund manager who has previously raised three funds primarily focused on South Africa, but also has experience in renewable energy investments in other parts of sub-Saharan Africa, such as Uganda. The manager is used to working with development finance institutions and is aware of the sustainability requirements set by Swedfund. With the support of Swedfund and the other development finance institutions, the quality of the sustainability work is now expected to increase further.

- Swedfund's 15-million-dollar commitment is an important part of the fund's first close and we are investing together with several other European development finance institutions. By contributing capital at an early stage, we see that we can participate in and contribute to mobilizing private capital from commercial investors, says Maria Håkansson CEO of Swedfund.

By investing in a fund that addresses both new renewable energy capacity and finding resource efficiency solutions, the investment contributes to three of the UN goals in Agenda 2030: SDG # 7 (affordable and clean energy), # 12 (responsible consumption and production) as well as # 13 (climate action).

See Metiers pressrelease:

About Swedfund

Swedfund is Sweden's development finance institution for sustainable investments in developing countries. In order to achieve the goal: a world without poverty, more jobs are required in the private sector and that access to renewable energy is increasing. Investments are therefore made within energy & climate, health and to reach small and medium-sized companies.

As a state-owned company, Swedfund is managed by the Ministry of Enterprise and Innovation. The operations are financed partly through capital injections for which the Ministry of Foreign Affairs is responsible and through reflows from the own portfolio. Swedfund was founded in 1979 and has since the start made more than 240 investments in more than 60 countries.