Private equity firm Lightrock has launched a new $500 million clean energy fund aimed at supporting growth-stage businesses expanding access to affordable and sustainable energy across Africa and Asia.
- +Lightrock launches $500 million clean energy fund targeting Africa, Asia firms
This is according to a statement reported by Bloomberg on Friday.
This is according to a statement reported by Bloomberg on Friday.
The fund, known as Accelerate7, will focus on companies operating in Sub-Saharan Africa, South Asia, and Southeast Asia, targeting sectors such as electricity access, clean cooking solutions, electric mobility, and energy storage technologies.
The development highlights growing investor interest in clean energy infrastructure across emerging markets, where energy access gaps and rising demand for sustainable solutions continue to attract global capital.
Lightrock said the new fund is designed to address the persistent equity financing gap facing clean energy businesses in emerging markets.
Africa and parts of Asia continue to face major energy access deficits despite growing demand for electricity, cleaner cooking technologies, and low-carbon transportation systems.
The clean energy sector has increasingly attracted private capital as governments and development institutions push for energy transition investments across emerging economies.
The launch of the Accelerate7 fund demonstratees rising global investor confidence in clean energy opportunities across Africa and Asia.
In September, the European Union (EU) unveiled a €545 million package to scale up renewables investment in Africa.
The €545 million package expands the EU and Team Europe’s clean energy efforts in Africa, with new projects supporting electrification, modernising power grids, and improving access to renewables.
In January, the African Development Bank approved a $3.9 million, two-year project to help Nigeria and 12 other African countries implement energy compacts under Mission 300 to expand electricity access by 2030.
In November, AfDB approved a $500 million loan to the Federal Government of Nigeria to finance the second phase of the Economic Governance and Energy Transition Support Programme.
The bank also approved a $100 million loan to the Emerging Africa and Asia Infrastructure Fund (EAAIF) to boost sustainable infrastructure development across Africa.
