Dutch development bank FMO proposed an equity investment of ~USD 13.24 Mn to be used for acquisition of 60% equity in Senergy 2, 100% of Kodeni Solar and 90% of Walo Storage. This investment is aimed at development and construction of these projects.
In addition, FMO will provide an additional ~USD 2.43 Mn to the Africa REN Development Company (Africa REN AssetCo) to finance new development projects. FMO investment in Africa REN AssetCo is a co-investment with FMO investee Metier Sustainable Capital International Fund II LP. Africa REN AssetCo is a platform company that intends to grow into a larger IPP active in West Africa.