Acumen

Bridging the funding gap for early stage off-grid energy companies

Project disclaimer

Disclaimer: The data for this page has been produced from IATI data published by Acumen.

Description

Acumen launched the Pioneer Energy Investment Initiative (PEII) to bridge the funding gap for early stage off-grid energy companies and accelerate energy access across the developing world. By investing in companies with the potential to validate new business models, scale, and attract additional capital, the PEII will demonstrate ways that risk-tolerant patient capital can bring energy access to populations that have not yet been reached by the expanding off-grid sector. The PEII invests in companies delivering off-grid energy from renewable sources in India, East Africa, West Africa, and Pakistan, with a focus on solar home systems in new markets, mini and micro grids, and innovations in productive use. Through investing, helping to scale businesses, and capturing the voice of new energy customers through Lean Data, they hope to impact 8M people by 2026. Phase II of the PEII is supported with a contribution of GBP1 million from the Carbon Trust, as implementing partner for DFID, under the Transforming Energy Access (TEA) initiative. This funding has enabled the PEII to make an additional new investment in mini-grid company PowerGen, and publish a report in October 2019 called “Lighting the Way: Roadmap to Exits in Off-Grid Energy”.

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Location

The country, countries or regions that benefit from this Programme.

Ethiopia, Ghana, India, Kenya, Nigeria, Rwanda, Sierra Leone, Tanzania, Uganda

Disclaimer: Country borders do not necessarily reflect the UK Government's official position.