First closing of Evolution III Fund
Inspired Evolution Managers has announced the first closing of the Evolution III Fund.
Evolution III Fund has received US$199.4 million fundraising from several investors namely the European Investment Bank, the AfDB, the FinnFund, the Emerging Markets Climate Action Fund, Swedfund and SIFEM (Switzerland). This fund plans to invest in utility-scale, grid-connected IPP platforms and projects, decentralized commercial and industrial private offtake opportunities, off-grid solutions and energy-as-a-service micro-grid infrastructure offerings.
It will also think about investing in growth stock in companies that develop technology for energy and resource efficiency. The fund intends to invest between ten and fifteen times overall over a five-year period.
Country updates
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March 08, 2023
Final close for Mezzanine Fund IV
Vantage Capital has announced the final close of its Mezzanine Fund IV. Up to this point, Fund IV has made two investments: it gave Seaton Estates in South Africa early construction funding for resid...
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December 30, 2022
Relocation completed for government departments in Gauteng
Gauteng Provincial Government has relocated the departments to newly constructed government buildings in South Africa. The joint headquarters campus of the Department of Social Develo...
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December 20, 2022
Tender issued for Battery Energy Storage Systems (BESS) in South Africa
Eskom has launched a tender seeking a developer for a battery storage capacity project in South Africa.
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November 23, 2022
AfDB has approved equity for Evolution Fund III
The African Development Bank (AfDB) has approved a US$20 million equity investment for Evolution III (EVIII), an Africa-focused energy and infra fund managed by Cape Town-based Inspired Evolution...
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September 13, 2022
EIB plans to invest in Evolution III fund
The European Investment Bank (EIB) has announced its intentions to invest EUR55 million (US$55 million) into Evolution III, an Africa-focused energy and infrastructure fund managed by Inspired Evoluti...
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