“Work is still needed on every aspect of minigrids including regulation, business model and subsidy programmes. But, we’re excited by the step change in scale and pace that we’re seeing from developers, investors, regulators, and donors. We’re encouraged by the amount of capital the sector is prepared to absorb in the next 24 months,” said Davies.
William Barry, Managing Director, ARCH Emerging Markets Partners Limited’s Africa Renewable Power Fund (ARCH ARPF), said they believe that distributed renewables, including minigrids, are a critical component of Africa’s energy future. He called CBEA’s financing facility “a thoughtful, blended approach” to the challenge of unlocking capital for the sector. “At ARCH ARPF, we aim to partner with strong management teams and invest in scalable business models that offer compelling alternatives to their customers. We are excited to support them to scale,” said Barry.