ImpactAlpha, May 22 – Less than one-third of Haitian households have access to electricity. In rural areas electrification rates are as low as 5%. The Government of Haiti and the World Bank selected impact fund manager Bamboo Capital to manage the Off Grid Electricity Fund with the goal of 200,000 households in Haiti over the next decade.
Bamboo Capital, based in Geneva, Switzerland with $290 million under management, will invest debt and equity in companies that deliver renewable, off-grid energy, including mini grids and pay-as-you-go solar products.
The Haitian government set up the fund; The World Bank’s Clean Technology Fund and Scaling Up Renewable Energy Program provided the capital. The 10-year fund plans to raise further capital. Bamboo Capital launched a tech-driven impact fund with the government of Togo in March.