UK Support Helps New Africa-Focused Climate Fund Reach $200M Initial Closing

The Helios Climate, Energy Access, and Resilience (CLEAR) Fund has announced its successful first close, securing approximately $200 million in anchor investments from eight prominent institutions. This significant milestone includes contributions from PIDG company InfraCo Africa, the Foreign, Commonwealth and Development Office (FCDO), and British International Investment (BII).

Managed by Helios Investment Partners, the CLEAR Fund aims to become the largest Africa-focused climate fund with a target size of $400 million. The fund will channel investments into African businesses dedicated to climate mitigation and adaptation.

Initial backing from PIDG’s InfraCo Africa and the UK’s FCDO, through the MOBILIST programme, has paved the way for additional commitments from six leading climate investors. These include:

• British International Investment, the UK’s development finance institution
• The European Investment Bank
• The Emerging Markets Climate Action Fund, advised by EIB and managed by Allianz Global Investors
• The Dutch Development Bank
• The Swiss Investment Fund for Emerging Markets, advised by ResponsAbility Investments AG

With immediate effect, Helios, the largest Africa-focused private investment firm, will begin deploying the capital. The CLEAR Fund will target five key areas:

• Green energy solutions
• Climate-smart agriculture and food
• Green mobility and logistics
• Recycling and resource efficiency
• Digital and financial climate enablers

Research by MOBILIST highlights a potential $193 billion investment opportunity in sub-Saharan Africa’s renewable energy sector by 2031, though the region currently attracts only 3% of global energy investment.

UK Minister for Development Anneliese Dodds commented, “This Government is committed to restoring the UK’s leadership in climate action. The CLEAR Fund exemplifies how UK innovation can mobilize climate finance for Africa, aiding businesses in delivering climate-friendly solutions and advancing our mission for a world free from poverty on a livable planet.”

Gilles Vaes, CEO of InfraCo Africa, stated, “Today’s announcement is a crucial milestone for CLEAR and for African growth businesses addressing the climate crisis. The fund will provide essential finance and exit routes for climate entrepreneurs, supporting global climate efforts in line with the PIDG strategy.”

Christopher Chijiutomi, Managing Director and Head of Africa at BII, added, “We are thrilled to partner with Helios Investment Partners to support the growth of African companies and bolster Africa’s green transition. This investment will drive innovation and create opportunities, contributing to a resilient and prosperous future for Africa.”

Ross Ferguson, who leads the MOBILIST programme at the FCDO, said, “MOBILIST is proud to collaborate with Helios Investment Partners and InfraCo Africa Investment Ltd to mobilize commercial capital for Africa’s climate needs. This partnership will address Africa’s climate financing gap and advance efforts to overcome global climate challenges.”