energy access

Gas power has a significant greenhouse gas footprint, but many transition fund managers are embracing natural gas.

While scaleability remains a concern, microgrids have a significant role in bringing power to developing countries.

Blackstone Green Private Credit III – the biggest energy transition credit fund to date – has an appetite for fossil fuel investments such as LNG, straddling energy transition and affordability goals.

'The market opportunity remains unprecedented, but trillions of rands of investment are still required to develop sustainable infrastructure across South Africa,' the firm said in a statement.

The impact investment firm leverages 'complicated government subsidy programmes' in its pursuit of smaller deals, and says it is on track to create 'the largest clean energy portfolio serving low and moderate income communities in the country'.

Victory Hill, founded by former directors of Japan’s Mizuho Group, has increased its debut private fund's target to $500m. It has a growth strategy targeting the cleantech ventures seeded by giant energy corporations.

Apollo is progressing against its $100bn-target climate strategy with an investment in Summit Ridge, a community solar operator 'expanding access for underserved communities'.

The climate-orientated growth investor prefers businesses that are already scaling, like distributed solar company Sun King, managing director Eli Aheto tells New Private Markets.

The investment in ION Solar received commitments from four private markets GPs led by Greenbelt Capital Partners.

The Energy Access Relief Fund has a target of $80m and will provide emergency finance to companies providing energy to off-grid users.