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Bridging the funding gap for early stage off-grid energy companies

IATI Identifier:

Published on IATI
  • date_range Mar 20, 2019 - Dec 31, 2021
  • 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. Phase II of the PEII is supported with a contribution of GBP1 million from the Carbon Trust, as implementing partner for DFID, under the Transforming Energy Access (TEA) initiative. This funding has enabled the PEII to make an additional new investment in mini-grid company PowerGen, and publish a report in October 2019 called “Lighting the Way: Roadmap to Exits in Off-Grid Energy”.

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Sectors:

  • Energy research

  • Energy generation, renewable sources - multiple technologies

  • Solar energy for centralised grids

Participating Organisations

Carbon Trust Advisory Ltd Private Sector Accountable
PowerGen Private Sector in Aid Recipient Country Implementing
Azimuth (Easy Solar) Private Sector in Aid Recipient Country Implementing
Open Capital Advisors Academic, Training and Research Implementing
60 Decibels Private Sector Implementing
UK - Foreign, Commonwealth and Development Office Government Funding

Transaction

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Budget

1,286,960 USD
  • 450,715 GBP (Valued at Oct 30, 2019)
    date_range Mar 20, 2019 - Dec 31, 2019
  • 480,715 GBP (Valued at Oct 30, 2019)
    date_range Jan 01, 2020 - Dec 31, 2020
  • 68,570 GBP (Valued at Oct 30, 2019)
    date_range Jan 01, 2021 - Dec 31, 2021
access_time Updated on Oct 22, 2020 11:23:01