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Evolution II (Mauritius) LP

Region and countries in which the fund invests: Africa
Jurisdiction of registration: Mauritius
Business sector: Renewable energy
Date of agreement (month/year): 6/2018
Size and share of Finnfund’s financing (commitment): USD 15,000,000, 14.63%
Names of the companies financed by the fund:

Name Sector Region Country
Alten Development Renewable energy Africa Sub-Saharan Africa
Alten Hardap Renewable energy Africa Namibia
Alten Hardap Renewable energy Africa Kenya
d.light Renewable energy Africa Sub-Saharan Africa
Commercial Energy SA Renewable energy Africa South Africa
Gigawatt Global Burundi SA Renewable energy Africa Burundi
Rensource Holdings Inc. Renewable energy Africa Nigeria
Virtus Energy Solutions Limited Renewable energy Africa Nigeria
Red Rocket Holding Renewable energy Africa Sub-Saharan Africa
Escotel Mauritius Renewable energy Africa Sierra Leone, Liberia
General du Solaire Renewable energy Africa Senegal
ManoCap Energy Renewable energy Africa Ghana, Sierra Leone
Sabi Holdings

Brief description

Evolution II is a 10-year closed-ended fund with a mandate for equity and equity-related investments into two principle investment streams: development and project finance infrastructure-type investments in clean and sustainable energy; and growth equity investments in energy and resource efficiency companies, and the value chains that support them.

Main development impact

The Fund is expected to create positive development impact by mitigating existing power shortage in sub-Saharan Africa. Main direct impact will come from job creation, tax revenues and power production.

More information


Last modified: May 2023