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Bamboo Energy Access Multiplier (BEAM)

Country
Africa
Technology
Solar PV
Business model
SHS

ElectriFI invested USD 8 million in the BEAM investment platform to deploy early stage equity capital for distributed energy service companies (DESCOs) and unlock further debt capital. The project will allow access to new Solar Home System distributors in emerging markets and enable the electrification of 270,000 rural households.

Contract Signature: December 2019

Countries: Sub-Saharian Africa and Asia

Total ElectriFI Financing: USD 8M

Environmental and Social Category: C

(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk

Project overview:

BEAM is a 25m USD impact fund, with objective to invest in BBOXX Ltd and greenfield and early-stage solar home system distribution companies in countries where the electric grid is either not reaching a significant portion of the population and/or unreliable and insufficient.
BEAM is managed by Bamboo Capital Partners, an impact investment firm with focus primarily in energy, financial services and agribusiness in emerging markets.

Funding objective:

ElectriFi equity investment will provide BEAM the necessary capital to support the launch of up to 4 new solar home system distribution companies in underserved markets.

Why ElectriFI wants to fund this project:

BEAM will focus on investments in businesses that help reduce energy poverty whilst contributing to protecting the environment, and fostering fairer, healthier and more inclusive livelihoods. The fund pays particular attention to finance solutions that adapt to climate change and reduce greenhouse gas emissions, thus improving their sustainability. In line with this, BEAM investments will only be made in businesses employing renewable energy technologies and solutions.

Environmental & Social rationale:

Activities come with potential limited adverse risks associated with waste management and labour conditions. IFC Performance Standards 1 to 3 might be triggered. BEAM counts with policies and procedures in place to screen, asses, mitigate and monitor their E&S activity.

 

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Impact

Number of beneficaries
1,375,500
Annual output (MWh/y)
3865
GHG avoidance (tCO2eq/y)
30,000

Key indicators

Beneficiary
Bamboo Energy Access Multiplier
Financing instrument
Equity
Amount
USD 8 million
Countries
Sub-Saharian Africa and Asia
Technology
Solar PV
Business model
Solar Home Systems
Year
2019
Facility
ElectriFI Global

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