InfraCo Africa, part of the Private Infrastructure Development Group and Helios Investment Partners are working together to create a Pan-African investment vehicle Climate, Energy Access and Resilience (CLEAR), which will finance climate-aligned infrastructure and growth activities, and will also work towards achieving United Nations Sustainable Development Goals, according to media reports.
InfraCo Africa CEO Gilles Vaes told the media, “We have long been aware of the disconnect between available capital and investor interest in African infrastructure and the amount of bankable, high-quality projects these investors can invest in. With our expertise in market-leading African infrastructure, Helios and InfraCo Africa are thrilled to launch a vehicle that will allow investors to feel confident in their environmental credentials and the likely returns on their investments.”
“CLEAR will also provide an opportunity for project developers to get out of their projects, laundering their development funding and accelerating access to inclusive and clean infrastructure for Africa’s growing population”.
This latest initiative will also target the growing demand from domestic and international investors by putting into use the sustainable investment opportunities which will help close the gap between infrastructure and productivity in the African continent. CLEAR will operate under a pan African mandate and will leverage green transportation, clean energy and the energy transition, sustainable growth, mobility, and consumption.
Ultimately, CLEAR plans on raising $350 million for sustainable infrastructure and businesses which is expected to provide 100,000 new jobs and will connect over 1 million people with electricity for the first time. It is also expected to save 100 million tons of carbon emission in the process. This announcement was made during the UN’s COP26 summit in Glasgow at the UK government event on Finance Day.