The investment will flow into H2R Amplify, the debt-focused arm of the initiative, which is designed to provide impact-linked loans and receivables financing to off-grid solar companies serving underserved African markets.

The H2R initiative, launched in 2023, combines two complementary approaches to accelerate energy access.

While H2R Amplify helps established solar businesses expand their operations in frontier economies through debt financing, H2R Catalyze supports earlier-stage ventures with patient, risk-tolerant capital.

Since its launch, H2R Catalyze has already raised $57 million and started deploying investments.

Meanwhile, H2R Amplify has achieved a first close of $123 million and is structured to attract commercial participation by offering risk protection and enhanced returns through a blended financing model.

For BII, the investment aligns with its focus on inclusive, transformative solutions in Africa.

Chris Chijiutomi, Managing Director and Head of Africa at BII, emphasized the urgency of addressing the continent’s energy deficit, noting that almost 600 million people still lack access to electricity.

He explained that the partnership demonstrates BII’s willingness to invest in some of the most challenging markets where its capital can generate the greatest impact.

Chijiutomi also highlighted the gender dimension of energy poverty, stressing that H2R Amplify’s work will help create economic opportunities for women who are disproportionately affected.

Acumen’s founder and chief executive Jacqueline Novogratz welcomed BII’s support, describing it as a partnership rooted in the shared ambition to end energy poverty in Africa’s most underserved regions.

She noted that the initiative goes beyond providing power to millions of households and businesses, offering dignity, resilience, and a pathway to economic agency.

According to Novogratz, BII’s involvement demonstrates how public and private actors can mobilize the right kind of capital to build sustainable markets that endure and unlock human potential.

The context behind the initiative underscores its importance. Africa’s energy access challenge remains one of the most pressing development issues of the decade.

Extending national grids to remote areas often proves prohibitively expensive, leaving millions dependent on kerosene, candles, or unreliable diesel generators.

Through H2R, Acumen is not only scaling solar distribution but also pioneering financing models that de-risk investments for commercial players.

Already, the initiative has backed projects such as d.light’s multi-country receivables facility in East Africa and a blended-currency loan to Yellow Malawi, both of which are designed to accelerate off-grid solar adoption and bring first-time electricity access to thousands of households.

BII’s $20 million commitment is expected to catalyze further private investment into H2R Amplify, reinforcing Acumen’s vision of using blended finance to push the boundaries of clean energy access.