Evolution II

  • FUND SIZE
    USD216 million
  • FUND CLOSE
    2017
  • DESCRIPTION

    Evolution II is a 2017 vintage 10-year closed-ended fund with USD 216 million in commitments and a mandate for equity and equity-related investments into two principal 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. Evolution II targets sub-Saharan African countries where growth prospects, ease of doing business, policy and regulatory certainty, and political stability and bankability offer compelling investment opportunities. The fund will contribute to addressing the growing need to replace aging and inefficient carbon-intensive power plants as well as contribute to building least-cost, low-carbon clean and sustainable energy generation capacity to address the estimated 130 GW suppressed demand across sub-Saharan Africa’s high-growth countries. Evolution II will also contribute to the need for improved energy and resource efficiency measures across business activities that span key sectors in sub-Saharan Africa. These sectors are experiencing growing energy and resource insecurity. Within this changing resource landscape, the responsible deployment of capital to companies that are ‘doing more with less’ is a compelling private equity growth story.

Liberia
  • ESCOTEL (Mauritius) Limited
    Clean (Renewable) Energy Infrastructure
    USD 20 million
    2020
Sierra Leone
  • ESCOTEL (Mauritius) Limited
    Clean (Renewable) Energy Infrastructure
    USD 20 million
    2020
Botswana
  • Red Rocket Holding
    Clean (Renewable) Energy Infrastructure
    USD 32 million
    2020
Mali
  • Red Rocket Holding
    Clean (Renewable) Energy Infrastructure
    USD 32 million
    2020
South Africa
  • Red Rocket Holding
    Clean (Renewable) Energy Infrastructure
    USD 32 million
    2020
  • Commercial Energy SA
    Clean (Renewable) Energy Infrastructure
    ZAR 250 million
    2019
Swaziland
  • Red Rocket Holding
    Clean (Renewable) Energy Infrastructure
    USD 32 million
    2020
Uganda
  • Red Rocket Holding
    Clean (Renewable) Energy Infrastructure
    USD 32 million
    2020
  • D.Light Design Limited
    Resource Efficiency (Renewable Energy)
    USD 21.55 million
    2018
Zambia
  • Red Rocket Holding
    Clean (Renewable) Energy Infrastructure
    USD 32 million
    2020
Burundi
  • Gigawatt Global Burundi S.A.
    Clean (Renewable) Energy Infrastructure
    USD 7.3 million
    2020
Nigeria
  • Rensource Holdings, Inc. Virtus Energy Solutions Limited
    Clean (Renewable) Energy Infrastructure
    USD 8.5 million
    2019
  • D.Light Design Limited
    Resource Efficiency (Renewable Energy)
    USD 21.55 million
    2018
  • Alten RE Developments Africa B.V.
    Clean (Renewable) Energy Infrastructure
    USD 36 million
    2018
Namibia
  • Commercial Energy SA
    Clean (Renewable) Energy Infrastructure
    ZAR 250 million
    2019
Cote D"Ivoire
  • D.Light Design Limited
    Resource Efficiency (Renewable Energy)
    USD 21.55 million
    2018
Ghana
  • D.Light Design Limited
    Resource Efficiency (Renewable Energy)
    USD 21.55 million
    2018
Kenya
  • D.Light Design Limited
    Resource Efficiency (Renewable Energy)
    USD 21.55 million
    2018
  • Alten RE Developments Africa B.V.
    Clean (Renewable) Energy Infrastructure
    USD 36 million
    2018
Tanzania, United Republic of
  • D.Light Design Limited
    Resource Efficiency (Renewable Energy)
    USD 21.55 million
    2018
Mozambique
  • Alten RE Developments Africa B.V.
    Clean (Renewable) Energy Infrastructure
    USD 36 million
    2018
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