Quick Facts

Regions:
Where the impacts of the investment may be experienced.
  • Africa
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Status: Active
Bank Risk Rating: A
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2016-12-23
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Inspired Evolution Investment Management
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Energy
Investment Amount (USD): $ 26.19 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported USD 22.00 MLN
Converted using 2017-12-25 exchange rate.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2017-12-25
Evolution II (Mauritius) No. 2 LP
FMO-50277

Project Description
WHO IS OUR CLIENT Evolution II (Mauritius) No 2 LP (Evolution II) is a private equity fund investing in renewable energy generating assets and energy efficiency projects in Sub-Sahara Africa. Evolution II is managed by Inspired Evolution Investment Management and has reached a first close size of USD75 million in 2016, funded by development finance institutions and developer Quantum Power. FUNDING OBJECTIVE Evolution targets investments which deliver social and environmental benefits as well as financial returns. Evolution II seeks to invest in in clean and sustainable electricity generation and related infrastructure, energy and resource efficiency and the food-energy-water nexus. After a successful first fund that invested in South Africa, Evolution II will move further into Africa, WHY WE FUND THIS PROJECT By investing in Evolution II, FMO seeks to address the market need for energy in Sub-Sahara Africa in a sustainable and responsible manner, by increased production of clean energy and use energy more efficiently.
Investment Description
Contact Information
FMO South Africa +27 11 507 2500 joburg-office@fmo.nl
Bank Documents