Helios, Gaia aim to raise $600m to back climate projects in Africa

BREAKING NEWSAugust 1, 2024 at 7:33 AM UTC

TLDR

Helios Investment Partners and Gaia Fund Managers raising significant funds for Africa-focused climate initiatives.
Helios leads with a $200 million initial commitment for the Clear fund aiming at $400 million.
Gaia Fund Managers secure $50 million toward the Gaia Africa Climate Fund targeting $200 million.

Helios Investment Partners LLP and Gaia Fund Managers are raising hundreds of millions of dollars for Africa-focused climate funds, aiming to capitalize on opportunities in renewable energy and drought-resistant agriculture on the continent.

Helios, the largest Africa-focused private investment firm, has secured about $200 million from eight state-linked institutions as an initial step to establish the largest Africa-focused climate fund. Helios’ Climate, Energy Access, and Resilience Fund, known as Clear, has a target size of $400 million, which would make it the biggest Africa-focused climate fund.

Meanwhile, Gaia Fund Managers from South Africa announced it has secured $50 million in commitments toward its Luxembourg-based Gaia Africa Climate Fund, which has a target of $200 million.

Key Takeaways

Investors are increasingly interested in Africa, where the lack of power infrastructure has left 600 million people without access to electricity, presenting an opportunity for large-scale investment in renewable energy plants without the need to retire fossil fuel-fired facilities. Additionally, the growing severity of droughts has heightened the demand for irrigation and technologies to reduce water use in agriculture, a sector that most Africans depend on for their livelihoods.

Finance

Helios Investment Partners

Helios

Gaia Fund Managers

Climate Change

Investments

Gaia Africa Climate Fund