Green Africa Power: Norway commits funds
Issue 292
- 16 Jan 2015
| 1 minute read
The Private Infrastructure Development Group Trust’s Green Africa Power investment facility has received a commitment of NOK300m ($48m) from the Norwegian Ministry of Foreign Affairs, bringing total committed funds to £121m ($204m). GAP is a multi-donor initiative that aims to provide long-term subordinated loans and contingent lines of credit to privately owned renewable power generation projects in Africa alongside commercial lenders and equity investors. GAP expects to start deploying funds to projects in Q1 2015, and work is under way to identify and review potential investments.
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