News Column

Camco Clean Energy Gets Selected As Renewables Investment Advisor

July 3, 2014

Tom McIvor

LONDON (Alliance News) - Camco Clean Energy PLC Thursday said it has been jointly selected by Green Africa Power LLP as an investment advisor for an African renewables investment fund which is expected to generate the company at least EUR2.5 million in fees.

The company, which develops emission reduction and clean energy projects, said the Green Africa Power initiative will offer long term loans and contingent lines of credit to privately-owned renewable power generation projects in the most under-developed countries in Africa.

Camco said that Green Africa Power aims to influence the overall policy environment for the financing of renewable energy projects, with Camco and EISER Infrastructure Partners LLP identifying and managing the eligible projects.

Both of the two investment partners will also seek to make sure all developmental and climate change objectives set by the funders are realised at the projects.

Camco said it expects the process to generate base fees of roughly EUR2.5 million to Camco with additional fees payable on an incentive basis.

Bringing sustainable development and power generation to under-developed areas in Africa is a key goal in global development, with the World Bank reporting that only 24% of the population of Sub-Saharan Africa have access to electricity.

Camco Clean Energy shares were up 1.1% to 4.55 pence on Thursday.

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Source: Alliance News

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