This fund aims to accelerate the decarbonization of Africa’s energy grid and drive impactful change in renewable energy development across the continent.

The initiative is backed by key investors, including the Green Climate Fund (GCF), Norfund, FMO, BIO, Ceniarth, and the UK-funded Renewable Energy Performance Platform (REPP).

REPP 2 is a blended finance vehicle to attract public and private investments in Sub-Saharan Africa’s distributed and small-scale renewable energy market.

This innovative approach supports decarbonization while addressing the $22 billion annual funding gap needed to achieve Sustainable Development Goal 7 (SDG7) — providing universal access to reliable electricity.

“This is Africa’s moment to redefine its energy future,” said Ben Hugues, REPP 2 Director at Camco.

“Investing in the businesses shaping a decentralized, renewable, and reliable African energy grid is paramount. The involvement of world-class investors underscores the importance of blended finance in scaling innovation and delivering both financial and climate impacts.”

Over its lifetime, REPP 2 is projected to add 330 MW of renewable energy capacity and mitigate over 12.7 million tons of carbon dioxide equivalent emissions. It aims to deliver clean energy access to more than 7.7 million people while enhancing the resilience of approximately one million beneficiaries.

The fund is further supported by a technical assistance facility, funded by the Norwegian Agency for Development Cooperation (Norad), to overcome financial and non-financial barriers impeding project development.

This support is expected to stimulate market growth and expedite investments in Africa’s renewable energy sector.

REPP 2 is a critical milestone in Africa’s energy transition, setting the stage for sustainable economic growth and impactful climate solutions across the continent.