Empower New Energy, supported by the ICFA, announces first close

ICFA

Empower New Energy is one of the Fund Managers selected in the first cohort of the ICFA-International Climate Finance Accelerator Luxembourg in July 2018.

The company today successfully closed the Series A funding of USD 8 million, which will enable construction of the first projects starting this year. The fund will invest in a pipeline of reserved projects in Kenya, Rwanda, Ghana, Nigeria, Ethiopia and Tanzania, amongst others. Empower New Energy has three partners: Terje Osmundsen and Alexander Ørjan Pedersen, who founded the company in 2017, and Susie Scannelli Cook. The initiators target to raise USD 50 million.

See full press release here.

Innpact is proud to coordinate the ICFA - International Climate Finance Accelerator initiative since inception in 2018. This first success clearly shows that initiatives like ICFA are needed in order to create more intermediaries in the climate finance space and thus drag more funding for projects with strong environmental and social impact.

You may also read…