Evolution II (Mauritius) LP
Region and countries in which the fund invests: Africa
Jurisdiction of registration: Mauritius
Business sector: Renewable energy
Date of agreement (month/year): 6/2018
Size and share of Finnfund’s financing (commitment): USD 15,000,000, 14.63%
Names of the companies financed by the fund:
| Name | Sector | Region | Country |
| Alten Development | Renewable energy | Africa | Sub-Saharan Africa |
| Alten Hardap | Renewable energy | Africa | Namibia |
| Alten Hardap | Renewable energy | Africa | Kenya |
| d.light | Renewable energy | Africa | Sub-Saharan Africa |
| Commercial Energy SA | Renewable energy | Africa | South Africa |
| Gigawatt Global Burundi SA | Renewable energy | Africa | Burundi |
| Rensource Holdings Inc. | Renewable energy | Africa | Nigeria |
| Virtus Energy Solutions Limited | Renewable energy | Africa | Nigeria |
| Red Rocket Holding | Renewable energy | Africa | Sub-Saharan Africa |
| Escotel Mauritius | Renewable energy | Africa | Sierra Leone, Liberia |
| General du Solaire | Renewable energy | Africa | Senegal |
| ManoCap Energy | Renewable energy | Africa | Ghana, Sierra Leone |
| Sabi Holdings |
Brief description
Evolution II is a 10-year closed-ended fund with a mandate for equity and equity-related investments into two principle investment streams: development and project finance infrastructure-type investments in clean and sustainable energy; and growth equity investments in energy and resource efficiency companies, and the value chains that support them.
Main development impact
The Fund is expected to create positive development impact by mitigating existing power shortage in sub-Saharan Africa. Main direct impact will come from job creation, tax revenues and power production.
More information
www.inspiredevolution.co.za/funds/evolution-two-fund)
Last modified: May 2023