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Proparco is participating in Metier’s new investment fund dedicated to sustainable infrastructure in Africa

Project

Networks and infrastructures
Panneaux solaires
FRV Empire
Signature date
Location
Multi-country Global, South Africa, Kenya, Uganda
Financing tool
Equity investment
Financing amount (Euro)
9000000
Financing details
USD 10m Equity investment
Customer
Metier Sustainable Capital International Fund II
Type of customer
Investment fund
Country of headquarters
Mauritius
Project number
PZZ1440
Environmental and social ranking
A
Climate co-benefits
Project with climate co-benefits
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This information is given at the time of signature, without prejudice to any developments in the operation/project.

Proparco is continuing its support for renewable energy, sustainable infrastructure and energy efficiency projects in Africa via a EUR 9m equity investment in Metier’s Sustainable Capital International Fund II.

Client presentation

With a target size of USD 200m, Metier Sustainable Capital International Fund II is the second investment fund for renewable energies and sustainable infrastructure of the South African manager, Metier. 

Project description

The fund is targeting between 8 and 12 investments in projects all over Africa in the renewable energies and sustainable infrastructure sectors (water treatment, waste treatment…). 

Project impact

Significant impacts are expected for the MSCF fund in terms of effects on the climate and development:

  • The investment fund should allow a reduction of 4.4 million tons of CO2eq during the lifespan of the projects (i.e. 220,140 tons of CO2eq a year over a total of 21 years); in the portfolio, the two hydropower projects in Kenya and Uganda should improve access to clean energy for some 400,000 people. 
  • The projects should support over 1,700 jobs in the companies invested in, including over 400 jobs for women. In addition to these figures, a total of over 9,000 people will be employed for the construction of the projects. The companies invested in are encouraged to devote 2% of their payroll to training and, more generally, should make a significant contribution to the tax revenues of the underlying countries.