RGREEN & ECHOSYS closed €100M AFRIGREEN solar fund for Africa

France-based RGREEN INVEST and ECHOSYS INVEST closed the AFRIGREEN Debt Impact Fund after reaching its €100 million (~$104.92 million) target. The fund offers long-term financing for Commercial and Industrial solar and small utility-scale projects in Africa. Managed by RGREEN INVEST and advised by ECHOSYS INVEST, it supports small to mid-size projects to lower energy costs and improve power reliability. The fund has already financed six projects in Nigeria, Morocco, and Botswana and aims to support 15 to 20 more, with investments reaching up to €15 million (~$15.73 million) over a ten-year period. Supported by major financial institutions such as the EIB, IFC, FMO, PROPARCO, BIO, Société Générale, and BNP Paribas, AFRIGREEN adheres to ESG and Impact standards in all its projects. Its goal is to make financing more accessible for African SMEs, enabling them to lower energy costs and enhance power reliability.