Fortis Green Renewables Investment Management, an investment firm providing capital to small-scale renewable energy assets in Sub-Saharan Africa, recently held the initial close in its Green Fund I. The fund is raising capital from individuals, family offices, and wealth management firms. The fund raised $6m thus far, and overall is targeting $20m.
The Fund will invest in both greenfield and operating assets across the spectrum of renewable energy generation technologies. Jonathan Shafer, Managing Director and Co-Founder, says “600 million people in Africa still lack access to power, and it is largely a matter of woefully insufficient supply. There simply is nowhere near enough power relative to demand. We are excited to address this shortfall via responsible generation technologies while also pioneering a way for American individuals and family offices to invest for both profit and impact in these types of green African infrastructure assets.”