Bamboo Energy Fund – Bamboo Energy Access Multiplier (BEAM)

Investment Name: Bamboo Energy Fund – Bamboo Energy Access Multiplier (BEAM)

Region: Sub Saharan Africa/Asia

Total ElectriFI Financing: 8m USD

Environmental and Social Category: C

(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk

Project overview:

BEAM is a 25m USD impact fund, with objective to invest in BBOXX Ltd and greenfield and early-stage solar home system distribution companies in countries where the electric grid is either not reaching a significant portion of the population and/or unreliable and insufficient.

BEAM is managed by Bamboo Capital Partners, an impact investment firm with focus primarily in energy, financial services and agribusiness in emerging markets.

Funding objective and impact: ElectriFi equity investment will provide BEAM the necessary capital to support the launch of up to 4 new solar home system distribution companies in underserved markets.

Why ElectriFi wants to fund this project: BEAM will focus on investments in businesses that help reduce energy poverty whilst contributing to protecting the environment, and fostering fairer, healthier and more inclusive livelihoods. The fund pays particular attention to finance solutions that adapt to climate change and reduce greenhouse gas (GHG) emissions, thus improving their sustainability. In line with this, BEAM investments will only be made in businesses employing renewable energy technologies and solutions.

Environmental and social rationale:

The Project is rated category C.

Activities come with potential limited adverse risks associated with waste management and labour conditions.

IFC Performance Standards 1 to 3 might be triggered. BEAM counts with policies and procedures in place to screen, asses, mitigate and monitor their E&S activity.