KIGALI, Rwanda, August 24, 2021 (Newswire.com) - 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, which is raising capital from American individuals, family offices, and wealth management firms. The Fund will invest in both greenfield and operating assets across the spectrum of renewable energy generation technologies.
Says Jonathan Shafer, Managing Director and Co-Founder, "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."
Benito Grimaudo, Managing Director and Co-Founder adds, "Developers working on small-scale renewable energy assets in Africa can struggle to raise equity because most firms will not make investments under $10 million. Also, very few firms investing equity are also interested in creating tailored equity-like packages for their clients (i.e. mezzanine equity). We have an opportunity to create something to help developers, while also increasing the supply of available power in Sub-Saharan Africa."
Shafer adds, "We are honored to steward our investors' capital and committed to financing responsible power for Africa's future."
About Fortis Green Renewables Investment Management
Fortis Green Renewables Investment Management invests in responsible power for Africa's future by providing flexible equity and equity-like capital to both greenfield and operating renewable energy assets. For more information, please visit fortisgreenrenewables.com.
Jonathan Shafer has over 16 years of investment and operational experience in Sub-Saharan Africa and the US. He is responsible for business development, strategy, and sits on the Investment Committee. Jonathan was most recently Chief Investment Officer of CommonGood Capital while previously SVP of CNL Financial Group's $4.5B private equity and private credit platform.
Benito Grimaudo has over 16 years of experience investing in and advising energy & infrastructure projects in nearly 20 African countries, with more than $3 billion of executed project value across the continent. He is responsible for all investment activities and sits on the Investment Committee. Benito was most recently with the African Development Bank while previously a Founding Executive of the ARM-Harith Infrastructure Fund.
For inquiries contact:
Source: Fortis Green Renewables Investment Management