ACP INFRASTRUCTURE CLIMATE RESILIENT FUND

Promoter – Financial Intermediary

AFC CAPITAL PARTNERS

Location

• Regional - Africa

Description

Private equity fund targeting investments primarily in climate resilient infrastructure in Africa.

Objectives

The investment team targets both new and existing projects or assets and intends to apply for the latter a buy and grow strategy that consists of acquiring significant minority stakes in existing infrastructure platforms and then expanding them further, with a strong focus on climate resilience and transition risk management. The investment team aims to deliver essential or enabling resilient infrastructure assets or projects in transport and logistics, clean energy, industrial parks and economic zones, and in telecommunications and digital infrastructure sectors in Africa.

Sector(s)

• Energy - Electricity, gas, steam and air conditioning supply
• Transport - Transportation and storage
• Services - Transportation and storage
• Telecom - Information and communication

Proposed EIB finance (Approximate amount)

USD 56 million (EUR 51 million)

Total cost (Approximate amount)

USD 750 million (EUR 688 million)

Environmental aspects

The fund will be required to have an environmental and social policy and the appropriate management systems (policies, procedures and resources) in place so as to comply with the EIB Group Environmental and Social Sustainability Framework and The EIB Environment Framework. The assessment of the environmental, climate and social impacts and risks will be part of the standard due diligence process that the fund will have to carry out for each portfolio company and any underlying investment and, thereby ensuring that the portfolio and these investments are in compliance with national law and in line with the principles and standards of relevant EU environmental legislation and meet the EIB environmental and social principles and standards.

Procurement

The EIB will require the fund manager to take all requisite measures to ensure that contracts for implementation of the projects financed by the fund will be tendered in line with the Bank's Guide to Procurement.

Status

Approved - 6/11/2024