AfDB invests $20m in fund targeting renewables projects in sub-Saharan Africa

Finance organisation the African Development Bank Group has approved an equity investment of $20-million in Evolution Fund III, a pan-African clean and sustainable energy private equity fund that is mobilising about $400-million into renewable energy and resource-efficiency assets across sub-Saharan Africa over a ten-year period. Inspired Evolution Investment Management is a fund manager with more than 15 years of experience and a record of deploying more than $310-million in renewable energy projects in African counties.