Project H2R
INTERNATIONAL CLIMATE FINANCING
Acumen Hardest-to-Reach (H2R)
| Project Name | Acumen Hardest-to-Reach (H2R) |
|---|---|
| Accredited Entity | Acumen Fund, Inc. |
| Year of Approval | 2023 |
| Duration | 12 years |
| Sector | Energy |
| Amount | USD 250 million |
| Geographic Scope | Regional — 16 countries of Sub-Saharan Africa |
| Climate Use | Transversal |
| Contents | The main objective of the Acumen Hardest-to-Reach (H2R) initiative is to combat energy poverty and universalize access to electricity by financing solar solutions outside the network in the most isolated and economically vulnerable regions of Sub-Saharan Africa. Using a mixed US funding structure$ 250 million — supported by first loss capital of Green Climate Fund — the project aims to unlock neglected markets by providing patient capital and scalable debt financing to local solar energy companies. By replacing the use of polluting fossil fuels such as kerosene and diesel generators, the initiative aims to benefit some 70 million people, create thousands of green jobs and mitigate the emission of up to 5 million tonnes of carbon dioxide. |
