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StartGreen & Evenpar invest in international energy transition
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.”New partnership
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
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Evenpar invests in South African Water Infrastructure, facilitating access to clean water
Zeist, 23 April 2024 – Evenpar Fund, a leading sustainable infrastructure investor, has invested in a South African water treatment plant, processing polluted industrial water. For this transaction, Evenpar is supported by Aqua for All, an international foundation working towards accelerating access to clean water and good sanitation for all (SDG 6).
This Evenpar investment is part of a string of investments in wastewater recycling infrastructure based on a partnership with a South African project developer My Water Treatment Services (MWTS). Water scarcity remains a pressing challenge in many parts of South Africa, affecting millions of lives and hindering socio-economic progress. The MWTS projects treat polluted industrial, commercial, and residential effluent water so that it can be re-used as process water or even as potable water at a later stage, thus contributing to SDG 6 and SDG 11. In light of this, Evenpar’s collaboration with Aqua for All represents a significant stride toward transformative change.
“Direct investments in Sustainable Infrastructure provides risk-adjusted, stable cashflows, and competitive returns,” said Pjotr Schade, Managing Partner of Evenpar. “Simultaneously, this investment not only improves livelihoods but also lays the foundation for long-term prosperity and environmental stewardship.”
The importance of private equity investments in sustainable infrastructure cannot be overstated. Unlike traditional funding or venture capital, infrastructure equity brings a unique blend of capital, expertise, and ownership to the table. By mobilizing private sector equity, projects can be executed with greater efficiency, financial returns, and speed leading to scalability whilst maximizing impact.
The partnership between Evenpar and Aqua for All exemplifies the power of collaboration in addressing infrastructure challenges. By leveraging their combined expertise and resources, the partnership realized the implementation of innovative financial solutions and project knowledge that enhance water accessibility, reliability, and quality for communities in need.
“We are excited to join forces with Evenpar in our shared mission to accelerate access to safe water and sanitation. These challenges, further intensified by the effects of climate change, pose significant threats, especially in emerging markets”, said Josien Sluijs, Managing Director of Aqua for All. “By leveraging our strengths, we can mobilize additional capital for impactful investments, thereby driving sector transformation”. The establishment of Evenpar has been supported by Incubator and Fund Manager Cardano Development. Evenpar invites all investors and stakeholders to join the realization of the next sustainable infrastructure project.
Media inquiries:
Mr. Pjotr Schade – Evenpar General Partner – info@evenpar.nl
Mrs. Blanca Méndez – Aqua for All – b.mendez@aquaforall.org
Mrs. Maria-Pia Kelly – Cardano Development – m.kelly@Cardanodevelopment.com
Website and references :
About Evenpar (EP)
Evenpar is a spirited and entrepreneurial investment manager, driven by the challenge of making real impact and healthy returns.
Emerging markets have an increasing water and energy demand, available feedstock and limited technology coverage. Evenpar capitalizes on these value drivers.
Evenpar invests in sustainable infrastructure utilizing known technology and has the appetite to invest from the early stages of infrastructure projects, focussing on durable project operations and stable cashflows. Evenpar services the project developer with in-depth technology and project development knowledge to realize scalable pipelines.
About Aqua for All
Aqua for All is an international foundation operating primarily in Africa and Asia. For over two decades, we have worked towards transforming the sector into an innovative, sustainable, and inclusive water and sanitation economy worldwide.
We believe that innovation, scalable solutions, and public and private capital are needed to bridge the service and financial gaps to achieve SDG 6 – Water and sanitation for all.
We use grants strategically to accelerate providing sustainable access to water and sanitation to low-income households. Our transformative approach includes market development and facilitating access to finance. We support local service providers to scale their market-based solutions and attract capital. In addition, we use our funds to mobilize private capital to increase investments in water and sanitation.
About Cardano Development
Cardano Development (CD) is an incubator and fund manager, established in 2007. Through careful risk-management analysis in data-poor settings, CD identifies scalable solutions that help to make frontier financial markets more inclusive, investible, and sustainable to unlock lasting economic value. CD creates solutions for local currency, credit, and liquidity risks in these markets. CD supports its scale-up funds and a number of start-ups with ongoing management services, financial support and corporate governance oversight. Cardano Development works with reputable partners including foundations, governments, impact investors, institutional investors and commercial partners.
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Kenya to grant IPPs access to its electricity distribution market
Exciting news! The Energy and Petroleum Regulatory Authority (EPRA) of Kenya has published new regulations that will allow independent power producers (IPPs) access to the electricity distribution market. The regulations will also allow private companies to import power from neighbouring countries. This is breakthrough lawmaking opening up a whole array of new investment opportunities. Read the full article on https://renewafrica.biz/news/rest-of-africa/kenya-to-grant-ipps-access-to-its-electricity-distribution-market/
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Aqua Fair 2024
Evenpar has visited Aqua Fair 2024, exploring new technologies for solving sanitation and water problems in Africa. Very exciting to see what technology makes possible!
Inspiring to see efficient technology by NX Filtration at the 2024 Aqua Fair, providing Sustainable Infrastructure for investment projects.
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Advantages of Impact Project Finance over Venture Capital
In emerging markets, the pursuit of sustainable development and social impact has gained momentum. As a result, both impact project finance and impact venture capital have emerged as vital mechanisms to support socially and environmentally conscious initiatives. While both play crucial roles in fostering positive change, impact project finance holds several distinct advantages over impact venture capital in these burgeoning economies.
- Long-term Commitment: Impact project finance typically involves funding large-scale, long-term projects that address systemic challenges such as infrastructure development, renewable energy initiatives, and healthcare services. This long-term commitment allows for sustainable impact to be achieved over extended periods, fostering resilience and positive change in emerging markets.
- Mitigation of Risk: Emerging markets often present higher levels of risk and uncertainty. Impact project finance mitigates this risk by providing structured financing and support mechanisms for medium and large-scale initiatives. The projects are typically backed by carefully conducted feasibility studies and comprehensive risk assessments, ensuring a more stable environment for investors.
- Stability of cash flow: Project finance SPV’s focus only on production and optimization of efficiency through long-term contracts. They are not distracted by management ambitions or failures, shareholder dilution or buy-outs; merely on performing thus creating low-risk stable cash-flow with recourse on tangible infrastructure assets.
- Infrastructure Development: Impact project finance plays a pivotal role in addressing infrastructure gaps in emerging markets. By financing crucial projects such as roads, ports, and energy grids, impact project finance lays the foundation for economic growth and enables businesses to thrive in the region.
- Low exit risk: Based on the long-term stable cash flow, secondaries have the appetite to buy low-risk project financed assets, providing cash flows without venture and technology risk. Secondaries buy (often inflation-corrected) bond-like fixed-income assets providing the initial investor with assured exit multiples.
- Diverse Impact Opportunities: Impact project finance offers a wide array of opportunities to drive positive change across multiple sectors simultaneously. Investors can fund projects in education, healthcare, agriculture, and beyond, allowing for a more diversified impact portfolio.
- Tangible and Measurable Impact: Impact project finance is intrinsically linked to concrete projects with clear objectives, making it easier to measure the social and environmental outcomes. Investors can see the direct results of their investments, enhancing transparency and accountability.
- Inclusivity and Local Empowerment: Impact project finance frequently involves engaging local communities and stakeholders, ensuring that the initiatives are aligned with their needs and aspirations. This inclusive approach empowers local populations and strengthens social cohesion.
While impact venture capital also plays a crucial role in supporting early-stage social enterprises and innovative solutions, impact project finance stands out in emerging markets for its ability to drive large-scale, lasting impact. VC funding often doesn’t have the longevity to invest in long-term infrastructural projects that many of their portfolio companies require to grow, leading to no or sub-optimal investments. By combining financial resources, strategic planning, and collaboration, impact project finance emerges as a powerful tool to bring about transformative change in these dynamic economies. As the global community continues to strive for a more sustainable future, nurturing impact project finance in emerging markets will undoubtedly be pivotal in shaping the trajectory of progress.
As Evenpar Investment Fund , we finance Impact Infrastructure Projects in renewable energy, recycling and clean water & sanitation, utilizing project finance structures only. It provides the highest impact and financial yield against the lowest risk. With the support of Cardano Development, Evenpar is committed to bring about fundamental change.
For more information please visit www.evenpar.nl
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Evenpar partners with Cardano Development
It is with great pleasure that we announce our partnership with Cardano Development.
Cardano Development is an incubator and fund manager that empowers emerging and frontier economies to realize true impact by filling gaps in financial systems. Cardano Development has over $6 billion assets under management and 190 professionals in over 60 countries (www.cardanodevelopment.com).
Cardano will support Evenpar with back- and mid-office services such as legal, compliance, reporting and administration. As General Partner, Evenpar is now supported by the best-in-class Impact fund manager.
“Cardano Development is thrilled to partner with Evenpar, a young, dynamic, and innovative investor. By providing comprehensive fund support activities, Cardano Development will empower Evenpar to maximize its potential and scale its impact. With this collaboration, we aim to bolster sustainable development in emerging and frontier markets and pave the way for a brighter, greener future.”Joost Zuidberg, CEO at Cardano Development
“With its global reach and 16 years of experience in Impact investing, Cardano provides assurance to Evenpar’s stakeholders that fund support activities are executed against the highest standards. This allows the Evenpar team to focus on its core activities: investing in great projects!”
Pjotr Schade, Managing Director at Evenpar”
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Climate Finance Forum 2023
Pjotr Schade attended Climate Finance Forum 2023 by ICFA – International Climate Finance Accelerator on 26 May 2023 in Luxembourg.
The forum aims to delve into the challenges on how to tackle pressing climate issues through finance, and to collectively work on solutions to overcome these barriers through inspirational keynote speeches and thematic round-table discussions.
The event will be highly visible with speakers such as Yuriko Backes (Luxembourg Minister of Finance), Joëlle Welfring (Luxembourg Minister for the Environment), Piet Colruyt (Impact Capital), Patrick Losch, as well as representatives of the European Investment Bank (EIB), the European Investment Fund (EIF), EVPA, Innpact, Mercy Corps Ventures, LuxFLAG, E&Y, Deloitte, Incofin Investment Management, Finance in Motion, and more.
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1.5 Degrees Africas net zero conference
Our Fund Manager, Caspar Slagboom, participated in the 1.5 Degrees Africas net zero conference and exhibition to discuss investments in wastewater treatment solutions in South Africa. It was a real pleasure to have contributed to the panel discussion! Many thanks to 1.5 Degrees Africas net zero conference and exhibition for the great organisation, and KaacKai and Citra – Live Different for the interesting conversation.
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Newsletter 26-01-2023
Africa’s crucial role in fighting climate change
An article published by the Financial Times noted that Africa is more central to the issues of climate change than almost anyone recognises. Today, with 1.4 billion people, Africa accounts for approximately 6 per cent of global carbon emissions. Going forward, the continent’s carbon emissions will rise dramatically under any business-as-usual scenario. As Africa has the fastest growing and fastest urbanising population in the world.
It must be acknowledged that African countries have the right to expand, rather than cut their energy consumption. As currently still some 600mil. Africans live without electiricty.
Investments must be made into renewable energy technologies and innovations and there lies an opportunty for these countries to leapfrog into a new energy age. This is exactly where Evenpar aims to make an impact.
Find the full article here.This month Evenpar was part of the Global Impact Investor Network Conference and our team was showcased in their introduction film. Global Impact Investor NetworkThis month Pjotr Schade represented Evenpar at the Global Impact Investor Network. We had the opportunity to connect with like minded impact investors in the sector.
Main take aways: ”Debt is readily available and the equity focus is on deploying funding to reach scale.” -
Newsletter 30-01-2023
“Advanced” recycled material will be incorporated by Mars to pack KIND bars in
Mars Incorporated announced it is packing its KIND snack bar utilising materials sourced from advanced recycling in order to reduce the amount of virgin plastics in its packaging portfolio.
Thanks to a ‘closed loop’ collaboration with SABIC, Landbell, Plastic Energy, Taghleef, and SIT, the new wrapper is made from mono-material propylene, which is thought to make it fully recyclable and thus eliminating the need for multi-material layers or laminated plastics. The goal is that the redesign will be a circular solution compatible with drop-off recycling in the UK and curbside recycling in Ireland.
Mars is counting on the new packaging to advance in its goals of reducing its use of virgin plastic by 25%, guarantee that all plastic packaging contains 30% recycled content, and redesigning packaging components across its portfolio to ensure its compatibility with current or future recycling infrastructure.
Ever more large corporates are looking at recycling solutions for their products, Evenpar aims to provide financing solutions for projects in the recycling and circular sector,
Find the full article.One of Kenya’s oldest bottling companies gets funded for a clean energy upgrade
Sustainable energy developer Safi Power has completed a 400kWp rooftop solar PV installation at the Coastal Bottlers plant in Mombasa, helping the soft drinks bottler to transition one of its PET production lines to a cleaner and more affordable source of energy.
The project, funded by Spark Energy Services (Spark), is expected to generate c.600MWh of renewable energy a year, leading to more than 8,000 tonnes of avoided greenhouse gas emissions over the project’s lifetime and a like-for-like reduction in the company’s power costs of over 25%.
Seth Adu-Baah, CEO of Coastal Bottlers, said: “This is a significant milestone for us as Coastal bottlers as we continue to drive and embrace innovation in every part of our business to reduce our carbon footprint.
This case proves the appetite for innovation to reduce companies carbon footprints in Kenya.
Find the full article. -
One of Kenya’s oldest bottling companies gets funded for a clean energy upgrade
Sustainable energy developer Safi Power has completed a 400kWp rooftop solar PV installation at the Coastal Bottlers plant in Mombasa, helping the soft drinks bottler to transition one of its PET production lines to a cleaner and more affordable source of energy.
The project, funded by Spark Energy Services (Spark), is expected to generate c.600MWh of renewable energy a year, leading to more than 8,000 tonnes of avoided greenhouse gas emissions over the project’s lifetime and a like-for-like reduction in the company’s power costs of over 25%.
Seth Adu-Baah, CEO of Coastal Bottlers, said: “This is a significant milestone for us as Coastal bottlers as we continue to drive and embrace innovation in every part of our business to reduce our carbon footprint.
This case proves the appetite for innovation to reduce companies carbon footprints in Kenya.
Evenpar Fund 