African Renewable Energy Fund successfully Reaches Final Close At Its Target of U.S. $200 Million of Committed Capital

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The African Renewable Energy Fund (AREF), a dedicated renewable energy fund focused on sub-Saharan Africa, announced during the African Development Bank's "Energy Week" that it successfully reached its final close at its hard cap, with US $200 million of committed capital to support small- to medium-scale projects, with investment at the final close from European Investment Bank (EIB) and the Global Energy Efficiency and Renewable Energy Fund (GEEREF), among other investors.