The Global Energy Efficiency and Renewable Energy Fund (GEEREF), an investment vehicle focused on clean energy in emerging countries and economies in transition, committed €10m to Southern Africa’s Evolution One Fund.
Evolution One is a private equity fund dedicated to encouraging accelerated development and use of environmental friendly products, services and processes to reduce costs and mitigate environmental and climate change impacts, thereby promoting mutually reinforcing benefits for society.
The fund will primarily target renewable energy generation, energy efficiency and other sustainable sectors such as water purification, waste management and recycling.
The focus will be on micro-enterprises, small, medium and broad-based economic empowerment.
Evolution One is managed by Inspired Evolution Investment Management, a South Africa-based company.
This is the second commitment GEEREF, supported by the European Union (EU), Germany and Norway and advised by the European Investment Bank Group, announced this month. On December 11, GEEREF made public its €12.5m commitment to Berkeley Energy’s Renewable Energy Asia Fund (REAF), which primarily focuses on India.