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PEII Phase 1

IATI Identifier:

Published on IATI
  • date_range Dec 19, 2016 - Jul 18, 2018
  • autorenew Implementation (Status)

Acumen launched the Pioneer Energy Investment Initiative (PEII) to bridge the funding gap for early stage off-grid energy companies and accelerate energy access across the developing world. By investing in companies with the potential to validate new business models, scale, and attract additional capital, the PEII will demonstrate ways that risk-tolerant patient capital can bring energy access to populations that have not yet been reached by the expanding off-grid sector. The PEII invests in companies delivering off-grid energy from renewable sources in India, East Africa, West Africa, and Pakistan, with a focus on solar home systems in new markets, mini and micro grids, and innovations in productive use. Through investing, helping to scale businesses, and capturing the voice of new energy customers through Lean Data, they hope to impact 8M people by 2026, and have recently published an Energy Impact Report detailing our impact to date. DFID’s contribution of GBP1 million (through TEA) has been instrumental in their first two investments in PEG Africa and Easy Solar; and in developing a report on the “Role of Equity” in early-stage energy enterprises that was published in June 2018.

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Sectors:

  • Energy research

  • Energy generation, renewable sources - multiple technologies

  • Solar energy for centralised grids

Participating Organisations

Department for International Development Government Funding
PEG Africa Private Sector Implementing
Azimuth "Easy Solar" Private Sector Implementing

Transaction

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Budget

1,313,577 USD
  • 889,357 GBP (Valued at Jun 27, 2018)
    date_range Dec 19, 2016 - Dec 18, 2017
  • 110,643 GBP (Valued at Jun 27, 2018)
    date_range Dec 19, 2017 - Jul 18, 2018
access_time Updated on Oct 22, 2020 10:42:45