Inspired Evolution has raised $90 million for South African solar and wind projects. The funds, from unnamed development finance institutions, will boost South Africa’s supply of electricity and help it wean itself off coal.
The first close for Inspired Evolution’s second fund will let it continue to invest in solar and wind projects across its home country.
The firm has announced exits from four projects, representing 300 megawatts of installed clean power capacity from its $90 million first fund.
Africa has an estimated clean energy potential, including hydropower, of 190 gigawatts, according to the International Renewable Energy Agency.
Photo credit: WindEnergyUpdate.com