With more than 50 investors so far in our blended funds – from institutional to impact investors – we are working towards launching the new $500 million Gigaton Empowerment Fund.
We have built the most extensive track record of solar investments in Africa, resulting in transformational impact.
Our core value addition is originating and closing emerging market clean energy and climate investments, based on our local presence, expertise and relationships.
A shortage of capital is not what’s holding back a faster transition to a low-carbon economy. Rather, it’s an underdeveloped pipeline of investable projects [and] persistent risks in emerging markets...
Challenges for climate action & how to overcome them, Impact Alpha
$500m Gigaton Empowerment Fund
The proposed Gigaton Empowerment Fund will accelerate our impact, driven by demand from our pipeline for scale financing to increase climate action and energy access.
The fund will have a bespoke blended structure and there will be opportunities for junior, senior and super senior investors, with a target first close in mid-2022.
Gigaton has been shortlisted by the UN-convened Net-Zero Asset Owner Alliance, a group of over 60 institutional investors representing $10 trillion AUM. The proposed fund will make more than 130 clean energy investments, improving energy access for over 10 million people while reducing more than 18 million tons of CO2e.
Mirova SunFunder raises blended debt funds from institutional and other investors, offering access to a diversified emerging market solar portfolio so they can put capital to work in this rapidly growing and impactful sector.
$70m Solar Energy Transformation (SET) Fund
DFC, Calvert Impact Capital, Ceniarth and the IKEA Foundation were the anchor investors in SET in 2019 – three of them had invested in one of our previous funds.
Subsequent investors were Swedfund, OeEB, Bank of America, Mercy Investment Services, The Schmidt Family Foundation and several individual investors, including from the Toniic impact investor network.
$30m Kenya Off-Grid Solar Access Project (KOSAP) debt fund managed account
We were selected to manage the $30m KOSAP debt fund for solar companies working in 14 target counties in Kenya.
The KOSAP solar components are funded by Kenya’s Ministry of Energy with support from the World Bank, and managed overall by our partner SNV Netherlands Development Organization.
$47m Beyond The Grid Solar (BTG) Fund
DFC, Rockefeller Foundation and MCE Social Capital were the anchor investors in our pioneering blended finance vehicle in 2016.
Investors in later closings include FMO, BIO, Sant Foundation, Packard Foundation, Anthos, Leonardo DiCaprio Foundation and Baldwin Brothers.