Challenge
Currently, there is limited funding available for small and mid-scale commercial and industrial renewable energy projects in Southern Africa.
Solution
Axum was engaged to establish and manage a renewable energy debt fund sponsored by various stakeholders. We supported by establishing governance structures (investment policy, environmental compliance policies, social compliance policies, independent investment/credit committee), documenting and negotiating grant and loan documentation from commercial funders, establishing a market notes program, reporting and back-office policies and procedures, documenting and negotiating of technical assistance facility (TAF) policies, and recruiting a management team.
Impact
Since its establishment, the fund has provided financial support for over 175 small and mid-scale commercial and industrial renewable energy projects.