Exits and Sales
In line with its mandate, AEF provides funding for higher-risk clients. As clients grow and mature, their risk profile may improve, enabling them to secure financing from other parties and effectively reducing the on-going relevance of the Government Fund as a financier.
In 2021 the AEF equity participation in Anergi Turkana (wind energy, Kenya) was transferred to FMO’s balance sheet. At the time of initial investment, in 2013, equity capital for renewable energy projects in Kenya was scarce and the AEF investment was seen as highly additional.
Since Turkana is operational, it has increased the availability and affordability of energy in the country, while contributing to GHG avoidance (~155,295 tCO2eq annually). The wind farm supports 385 direct jobs. Via its foundation, Turkana implements activities intended to contribute to uplifting the livelihoods of the communities in and around the area.