Harith & Anergi establish $300 million renewable energy fund

Harith General Partners, an Africa-focused infrastructure investment firm, and Anergi Group, an African power provider, have partnered to establish the Pan-African Renewable Energy Fund (PAREF). This $300 million fund aims to invest in Africa's electricity access and renewable energy initiatives. The fund will expand on the accomplishments of Anergi, an energy investment vehicle supported by Harith, in designing, funding, and implementing some of Africa's largest independent power projects.

PAREF will invest in renewable energy projects across the continent through novel development and financing mechanisms focused on greenfield and brownfield projects. Both corporations indicated that the fund would be crucial to bridging Africa's energy access gap and accelerating its transition to a low-carbon economy in a socially responsible manner.

The fund seeks to replace carbon-intensive energy sources with less carbon-intensive alternatives and will expedite the adoption of value-enhancing technology for energy generation and storage.