The New Sparta Asset Management equity fund is seeking €42m from the European Investment Bank (EIB) to help finance between 10 and 15 renewable energy projects in sub-Saharan Africa.
The projects will range between 10MW and 60MW, with the the fund looking to invest a total of €212m in the projects.
The aim of the fund is to use the capital to bring the projects to financial close and through construction.
The application is currently under appraisal by the EIB.
Image: EIB
