Harith’s new fund ‘will help Africa transition to a low-carbon future’
Harith and Anergi Group plan to raise $300m in capital for their Pan-African Renewable Energy Fund
Harith General Partners, one of Africa’s leading investors in infrastructure, has partnered with one of its wholly owned portfolio companies to start the Pan-African Renewable Energy Fund (PAREF), which it hopes will accelerate renewable energy adoption across the continent.
Diversified power investment vehicle Anergi Group, which was acquired by Harith managed funds in 2009, will partner with Harith to commence raising a targeted $300m in capital for PAREF, which it plans to source from institutional investors and development finance institutions (DFIs) across Europe, North America, Africa and Asia. The renewable energy fund is targeting a first close of $100m by the end of the first quarter of 2023 and expects to deliver returns in line with those of other on-grid and off-grid power projects in Africa...
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