On 17 November 2014, IIED, the Overseas Development Institute and Institute of Development Studies co-hosted a one-day workshop titled ‘Financing sustainable energy for all’. The event took place at IIED’s offices in London, and was aimed at allowing researchers to engage more actively with investors, donors and practitioners and use this engagement to inform a future research agenda. Thirty-three participants attended the workshop, ranging from practitioners (working in Haiti, Bangladesh, Peru and Kenya), to investors, to researchers and advocacy NGOs. This presentation by Camille Astier, of Berkley Energy, discusses reaching the poorest. More details: http://www.iied.org/how-can-we-finance-sustainable-energy-for-all.

1. 17 November 2014
AFRICA RENEWABLE ENERGY FUND

2. About Berkeley Energy
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 develop and invest in renewable energy projects
 Asian and sub-Saharan African developing markets
 small hydro, wind, geothermal, solar, stranded gas and
biomass projects
 raised REAF in 2009 in the middle of the economic crisis
 AREF 1st close in March 2014 with just over US$100m
 offices in London, Singapore, Mauritius, Delhi and Nairobi
and a presence in Manila
 25 professionals across the two funds

3. Why Africa?
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Credit: NASA

4. Why Africa?
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 Energy gap
 Political drive
 Falling cost of renewable energy
 Africa has some of the world’s best potential sites for
wind, solar and hydropower
 more attractive regulatory framework

5. Berkeley Energy’s approach
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 Fund management experience
 over 115 renewable energy projects carried out by the
management team
 model of the Asian fund implemented
 In-house team at every stage of the project:
 investment team
 engineers
 ESG manager
 legal
 Maximise efficiency
 Keep costs under control

6. Key challenges
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 Uncertain legal environment
 Lack of expertise
 Lack of investors
 Lack of infrastructure
 Access to capital
 How to make a project bankable?