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African Renewable Energy Fund (AREF)

Category: Finance
Sub-Category: Equity
User: Project Developers
Donors: African Biofuel and Renewable Energy Company (ABREC), African Development Bank (AfDB), Dutch Development Bank (FMO), ECOWAS Bank for Investment and Development (EBID), West African Development Bank (BOAD)
Donor Countries: Cote d'Ivoire, Multi-donor, Netherlands

The African Renewable Energy Fund (AREF) targets investments in small to medium size energy generation projects that generate energy from the following renewable and clean energy sources: hydro, wind, solar, and biomass projects, certain geothermal projects and certain stranded natural gas projects. In addition, the Fund focuses on building technical and financial capacity of the local developers it partners with to enable them to roll out additional power projects to meet the growing demand for energy resulting from increasing urbanization and economic growth.

Location: Sub Saharan Africa
On- or Off-Grid: Both

AfDB Regional Member Countries


Project Developers

Contact information:
Last updated: August 10, 2020

Last updated: November 28, 2022