Introduction
Helios Investment Partners has made significant strides in the realm of climate mitigation and adaptation by securing an initial $200 million for its Helios Climate, Energy Access, and Resilience (CLEAR) Fund. This landmark achievement is supported by Britain's development finance institution, the European Investment Bank, and other climate-focused investors. The CLEAR Fund aims to become the largest Africa-focused climate fund, with a target of raising $400 million.
A Vision for Africa’s Climate Future
The Helios CLEAR Fund is designed to invest in mid-sized African companies that are focused on combating climate change through various innovative solutions. The fund will specifically target sectors such as low-carbon energy, climate-smart agriculture and food, climate-friendly mobility and logistics, recycling and resource efficiency, and digital and financial climate enablers.
Support from Key Players
The fund's initial backing from prominent institutions highlights the global commitment to supporting Africa's green transition. Anneliese Dodds, UK Minister for Development, emphasized the UK government's dedication to re-establishing its leadership in climate action. She stated, "We need to act now to avoid further environmental devastation that will fuel illegal migration, conflict, and famine across the world. The UK-supported CLEAR Fund is a first of its kind to invest in mid-sized African companies seeking to avoid and reduce carbon emissions, helping people to become more resilient and to adapt to the climate crisis."
Investment Opportunities in Renewable Energy
Research commissioned by the UK's Mobilising Institutional Capital Through Listed Product Structure programme highlights a potential investment opportunity of $193 billion in sub-Saharan Africa’s renewable energy market by 2031. However, despite this significant potential, the International Renewable Energy Agency estimates that Africa currently attracts only 3% of global energy investment.
Commitment to Africa’s Green Transition
Christopher Chijiutomi, Managing Director and Head of Africa at British International Investment, reiterated the institution's commitment to supporting Africa's green transition through the CLEAR Fund. He noted, "This investment also reinforces BII's commitment to supporting Africa's green transition."
A Watershed Moment for African Growth
Gilles Vaes, Chief Executive Officer at InfraCo Africa, which also invested in the fund, described the initiative as a "watershed moment for African growth businesses – and the associated infrastructure – seeking to address the climate crisis." He added, "CLEAR will unlock much-needed access to finance and exit routes for climate entrepreneurs whilst giving investors comfort that their investments will generate the growth they expect and support global efforts to address climate change."
