EEGF: Driving Impact in the Off-Grid Energy Sector
The Energy Entrepreneurs Growth Fund (EEGF) was launched to address a critical gap in the off-grid energy sector: access to flexible, risk-tolerant capital. While global investment in off-grid solar peaked in 2021, many early-stage and smaller companies continue to face challenges raising funds—especially in the wake of the COVID-19 pandemic and ongoing macroeconomic pressures. EEGF was designed to meet this moment, offering tailored financing solutions that help energy entrepreneurs grow and thrive.
EEGF supports companies across the energy access value chain, from solar home systems and commercial & industrial solar to productive use technologies and financial enablers. By blending concessional and commercial capital (including support from the African Development Bank’s COVID-19 Off-grid Recovery Platform) EEGF enables companies to scale sustainably, even in difficult operating environments.
Impact Highlights
As of the end of 2024, EEGF has:
- Raised USD 125 million in capital
- Disbursed USD 60.3 million to 15 active portfolio companies
- Reached 35.2 million people with improved energy access
- Supported 4,351 direct jobs
- Enabled the installation of 212.83 MW of clean energy capacity
- Avoided 11.1 million tons of CO₂ emissions over the lifetime of its investments
These results reflect EEGF’s strong alignment with Sustainable Development Goals (SDG 7 and SDG 13) and its commitment to climate action and inclusive development.
Gender Lens Investing
EEGF is proud to be a member of the 2X Challenge, promoting gender-smart investing across its portfolio. In 2024, 90% of EEGF portfolio companies met at least one 2X criterion. The fund supports women as customers, employees, and entrepreneurs, with 47% of end-clients being women and 39% of supported jobs held by women.
Climate Action: avoiding and reducing emissions
EEGF finances companies that deliver clean energy solutions to households and businesses across Sub-Saharan Africa and India, replacing fossil fuel-based methods like kerosene and diesel with renewable alternatives. This approach not only expands access to energy but also reduces reliance on carbon-intensive technologies, supporting a transition to low-emission, climate-resilient development.
SDG INVESTMENT FUND – ESG website disclosure (innpact.com)
