Friday, 4 February

Dear <<First Name>>

When Camco took on the management of REPP in 2015, the team was literally buzzing with excitement. With a mandate to find promising renewable energy projects in Sub-Saharan Africa that were struggling to access funding through traditional routes - and then invest in those projects to bring them to life - we were gifted a rare opportunity to make a genuine difference.

It was not without risk, of course, as we started to back companies that other investors feared to touch. But seven years on, Camco’s investments through REPP are proving that the region’s small-scale renewable energy market is growing and ripe for investment.

If you read REPP’s latest quarterly impact report, published this week, you will see that so far we have mobilised USD 197m around REPP projects from third-party investors, with USD 532m expected to be moblised over the projects’ lifetime. While this is terrific for helping our investees reach their full potential, it also gives the wider financing community the confidence to invest in the sector and take it to scale.

As we look to build on this momentum through 2022, I want to thank the extraordinary Camco team for their tireless efforts and commitment, as well as REPP’s Board and Investment Committee, its partners and its investees for the amazing work that they do every day.

Cheers

Geoff Sinclair

Managing Director, Camco Clean Energy

West Africa

Ghana: AfDB approves USD27.39 million in grant funding (ESI)
- The money will support the development of mini-grid and solar PV net metering in Ghana. 

Liberia: The GCF approves grant to improve climate information systems (Afrik21)
- The USD10 million funding is for the improvement of early warning systems in the country.

Nigeria: 13 Nigerian-owned renewables enterprises win USD100,000 (ThisDayLive)
- The companies have been awarded the funding from All On and USADF through their annual Nigeria Off-Grid Energy Challenge

East Africa

Kenya: Bamburi Cement moves towards renewable energy (AllAfrica)
- The company has signed two PPAs with MOMNAI Energy to construct two solar plants, total capacities of 14.5 MW and 5 MW.

Rwanda: Country partners with TotalEnergies (TheEastAfrican)
- The energy company has joined Rwanda’s energy market as the country looks to increase investment in renewable energy and electric mobility.

Southern Africa

South Africa: Energy giants claim renewable energy costs 50% less (MiningDaily)
- Engie and Anglo American Platinum publicly stated that currently renewables come in at less than half the price of the country’s currently high-priced carbon-intensive power. 

South Africa: Eskom plans further load-shedding (CNBCAfrica)
- The outages are the latest in a series that have restricted the country’s economic growth, but the utility claims they are necessary to prevent grid collapse.

Africa - general

Africa: AfDB approves first framework on public private partnerships (ESI)
- The framework will streamline AfDB’s efforts and energy sector projects on the continent. 

Cameroon: British High Commission grants seed funding to launch Game Changers (TheGuardian)
- The GBP10,000 funding will help Game Changers to mobilise stakeholders, build capacity and canvass more resources. 

Ghana/Kenya: Oikocredit lend EUR5 million to solar energy provider Ecoligo (Afrik21)
- The funding is to help the Berlin-based provider expand its operations in Ghana and Nigeria. 

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