US$90 million fund to start renewable energy in Sub-Saharan Africa The Evolution One Fund is a US$90-million fund that focuses on the clean energy and environment sectors. It has now vended its stake in three assets to an entity controlled by TriAlpha Investment Management’s clients. A different indirect stake in the 138.6 MW Cookhouse wind farm – a fourth asset – was sold to Old Mutual Life Assurance, a present shareholder in the project. The exit of these assets has permitted Inspired Evolution to return Evolution One’s entire capital back to its financiers – all in just more than six years from its last close. The fund will add to tackling the mounting need to substitute aging and incompetent carbon-intensive power plants, as well as add to building cheaper, low-carbon, clean and sustainable energy production aptitude to tackle the projected 130 GW of suppressed demand across sub-Saharan Africa’s high-growth nations. (Source: Construction Review Online)
