January 17

Shell Foundation’s EEGF Receives $13 Million Injection to Accelerate Access to Clean Energy in Sub-Saharan Africa


Energy Entrepreneurs Growth Fund (EEGF) — founded in 2019 by the Shell Foundation and co-funded with UK aid from the UK government and FMO, the Dutch Entrepreneurial Development Bank — has received a US$13 million injection from FinDev Canada.

The EEGF offers catalytic financing and technical assistance to early and growth-stage companies that increase access to clean, safe, dependable, and affordable energy for off-grid households and businesses in Sub-Saharan Africa.

“A just and inclusive energy transition, one that alleviates energy poverty and mitigates climate change, requires understanding the financing needs of entrepreneurs who we are depending on to deliver the world’s energy access goals,” says Gareth Zahir-Bill, Shell Foundation Operations Director. “FinDev Canada’s investment into the fund will help it expand its provision of flexible financing solutions for entrepreneurs, accelerating access to clean and reliable energy for millions of lives in Africa.”

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Source: VentureBurn (link opens in a new window)

accelerators, energy access, global development, renewable energy