As of September 1st , StartGreen Capital and Evenpar form a partnership to finance infrastructural renewable energy projects in emerging markets, with an initial focus on the African Energy Transition.
Emerging markets present an attractive potential for impact investments, leveraging on the increased energy demand, optimizing the circular use of available feedstock and utilizing EU technology. According to International Renewable Energy Agency (IRENA)*, the continent’s energy demand is set to double by 2040. Therefore, the partnership focuses on investment opportunities which produce efficient decentralized energy by utilizing primarily waste-recycling, waste-to-energy, biogas and biofuel technologies alongside other technologies.
Investment opportunities in Africa
Peter Nyeko, CEO Mandulis Energy (an Ugandan renewable energy project developer) highlights:
“The energy transition will be a vital part of the infrastructural growth in Africa, especially East Africa. It represents investment opportunities for projects with standard technology and investors who want to combine returns with impact realisation. This market is not over-crowded and many East African industrials and cities struggle with similar challenges.”
StartGreen Capital is one of the largest Impact Fund Managers in the Netherlands with over €450 million AuM and believes that the sustainable economy transition is initiated by entrepreneurs with vision, drive and guts.
Evenpar is a project development specialist with in-depth understanding of project dynamics, financial structuring, technology and emerging markets.
Solid financial returns
The targeted projects deploy proven and maintainable technology on the back of long-term supply agreements and creditworthy off-take contracts (industrial or government backed). Accordingly, this approach minimizes technology, feedstock supply and off-take risks, resulting in strong operational performance and creating long term stable cashflows. This strategy combined with blended finance structuring leads to solid financial returns.
Pjotr Schade – Managing Partner Evenpar Investment:
“This partnership is a powerhouse for impact investing in emerging markets since it combines the best of both worlds. StartGreen Capital is really the champion in impact fund management, with its strong track-record and its entrepreneurial approach to opportunities. The partnership allows Evenpar to focus on its core competence, being developing & investing in stable return high impact projects whilst being supported by StartGreen Capital fund management. This provides the investor with competitive returns and the assurance of fund stability.”
Impact on Sustainable Development Goals
The partnership invests with the intention to generate financial returns as well as create social and environmental impact. This is done by combining financial and investment/technical knowledge to finance and provide project development support, technical assistance, technology development and schooling to utilize effective proven technology to efficiently process low value available feedstock input into high value and much needed clean energy production in Africa. All together this results in positive outcomes for SDG 7 (affordable and clean energy), SDG 8 (decent work and economic growth) and SDG 11 (sustainable cities and communities).
Text by: Brigitte Buissink
Phenix Capital released their latest impact report on Water & Sanitation. Revealing that Private Equity is the asset class that has the greatest number of funds committed to Clean Water and Sanitation (SDG 6), while funds targeting Public Equities have raised the most capital, 41 billion euros, for this SDG!
The report emphasizes that solving the global water and sanitation crisis is one of the most urgent issues of our time. Today, 1 in 10 people—771 million—around the world lack access to safe water, and 1 in 4 people—1.7 billion—lack access to a toilet. Economists estimate there is a $1 trillion market opportunity for providing water and sanitation services to all people worldwide by 2030.
Evenpar invests in Water and Sanitation solutions throughout Africa to address this global crisis.
Private Capital in Africa
AVCA published an article on key trends defining Africa’s private capital landscape.
”2021 saw an increasing number of climate-related fundraising, which we expect to be deployed over the next years to finance climate related solutions and projects. Not only does this illustrate the role private capital can play in supporting Africa’s pathway to net zero, it is also evidence of the increasing adoption of specialised investment strategies by fund managers in sectors presenting significant opportunities for private capital investors in Africa.”
BMW group moves towards sustainable packaging
The BMW group announces that it has implemented several projects in its packaging logistics to further advance sustainability targets. The aim is to start using more recycled material in their packaging in the Eruopean plants.
Presidential elections in Kenya
The presidential elections in Kenya have taken place peacefully and have resulted in the appointment of William Ruto as president.
Evenpar at GIIN – The Hague
GIIN Investor Forum | October 12 – 13, 2022
The Global Impact Investing Network Forum is the largest in-person global gathering of impact investors. The Forum has a strong reputation for presenting delegates with the opportunity to build relationships, discover opportunities, share insights about new strategies, learn the latest industry developments, and explore ways to drive continued momentum and growth in the market.
Evenpar team will be present and looking forward to see you there!
It is important to have boots on the ground and understand how the technology of partners and projects work on location and in real life.
In June 2022, Caspar Slagboom went on two site visits in Naivasha: Tropical Power’s biogas installation and Sanivation’s fecal sludge to biomass fuel plant. It was a pleasure to see solid examples of good designs and operationally well-maintained plants. Providing a solution to the waste and energy challenges in Naivasha, Kenya.
Impact investing events
In the coming months you can find us at several impact investing events to build relationships, discover opportunities, share insights and learn about the latest industry developments.
We will be at The Global Impact Investing Network Forum in The Hague in October and you can find us at the EVPA Impact week in Brussels in November.
We look forward to meeting you there!
Winner ICFA cohort
The ICFA – International Climate Finance Accelerator (ICFA) named Evenpar as a high-impact fund manager offering innovative solutions to climate change. The ICFA selected Evenpar to be a future leader in the climate finance program of the European Investment Bank. The ICFA has made a short video about the Evenpar Fund.
Solar project cooperation
In April 2022 Evenpar and a solar project developer signed a cooperation to develop and finance several commercial and Industrial solar projects. These projects will provide renewable energy to Kenyan industrials where electricity is a core requirement for output realisation. The developer is an experienced renewable energy engineering and construction firm in Kenya with a proven track record.
New members of the team
Evenpar has recently complemented its owner’s engineering team with Kampala based Mr Tjerk Kuipers. Tjerk will support the fund with technical analysis and engineering optimisation of investments during the due diligence processes as well as during operations. By being based in Kampala, Tjerk has easy access to project sites in the region for “on the ground” interaction.
Article by the Washington post on how Africa will become the center of the world’s urban future – The washington post. Nov 2021
Read the full article.
We are proud to announce that Evenpar is elected by the International Climate Finance Accelerator as one of 5 high-potential impact fund managers to be supported during the 2021-2022 program.
The ICFA is a public-private partnership set up in 2018 by 10 private entities of the Luxembourg financial sector as well as the Luxembourg Ministry of Finance and the Ministry of the Environment, Climate and Sustainable Development.
The ICFA is supported by the European Investment Bank.
An interesting article by the New York Times on plastic waste in Senegal. According to the article plastic waste is exploding in Senegal, as in many countries, as populations and incomes grow and with them, demand for packaged, mass-produced products.
They note that this has given rise to a growing industry built around recycling plastic waste, by businesses and citizens alike. From Chinese traders to furniture makers and avant-garde fashion designers, many in Senegal make use of the constant stream of plastic waste. (New York Times, 2022)
Evenpar Fund will be investing in projects that focus on waste recycling technologies in Africa.
Find the full article here.