The fundraising marks a key milestone in efforts to address persistent energy poverty in markets where conventional finance has historically been reluctant to enter. 

The funding package was finalized with the full close of the H2R Amplify debt fund at $180 million, supported by a new $7.8 million commitment from the Swiss Agency for Development and Cooperation (SDC).

An additional $18 million in grant capital will be used to offer impact-linked incentives for energy enterprises operating in high-risk and remote contexts. 

H2R is structured as a blended finance platform, combining two complementary vehicles: Catalyze, a market-building facility that deploys patient capital, and H2R Amplify, a debt fund designed to provide growth financing to proven clean energy enterprises.

Together, these tools aim to unlock distributed clean energy solutions for households and small businesses that remain beyond the reach of traditional investment. 

The initiative’s design reflects a broader push to bring modern energy access to parts of Africa where electrification rates are among the lowest globally. 

According to Acumen, H2R targets almost 70 million people, including some 50 million first-time energy users, across 17 countries such as Malawi, Zambia, and Somalia.

In these markets, weak infrastructure, elevated operational risks, and limited access to long-term capital have previously dampened private sector engagement. 

Launched at the COP28 climate conference in 2023 and anchored by support from the Green Climate Fund, H2R represents one of Acumen’s most ambitious energy efforts to date, bringing together public, private, and philanthropic partners under a common strategy to bridge energy access gaps. 

“Over the past two years, we brought together partners who aligned behind one goal: to unlock energy access to the most remote and vulnerable areas,” said Jiwoo Choi, Head of the Hardest-to-Reach Initiative at Acumen.

“Moving from an announced strategy to fully committed capital gives us the foundation to carry this work forward with clarity and purpose.”  

With the fundraising now complete, H2R is positioned to deepen engagement with local energy enterprises and accelerate the rollout of clean, distributed power solutions in some of Africa’s most challenging and underserved regions.