This summer, Inspired Evolution successfully secured a further USD87.75 million in commitments from Ascension Investment Management, CDC Group, Cyane Holding, European Investment Bank , KLP Norfund Investments AS and Morgan Stanley Alternative Investment Partners to reach total commitments of $212.25 million at final closing of its Evolution II Fund.

“Access to reliable energy is a prerequisite for economic development", said Mark Davis, EVP Clean Energy at Norfund. "Norfund's investment is expected to contribute towards improved energy access and reduced carbon emissions across Sub-Saharan Africa. We are pleased to have mobilized institutional capital from KLP (Norway’s largest pension fund) to co-commit USD29 million into Evolution II”.

The Inspired Evolution platform

The Inspired Evolution platform was established in 2007 by Christopher Clarke and Wayne Keast who raised USD90 million for Evolution One Fund in 2008. Evolution One made 12 investments and has developed and sold more than 922 MWs of clean energy projects. Both funds are specialised clean energy infrastructure and resource efficiency growth funds, currently active across 11 Sub-Saharan African countries. The funds invest in affordable, least-cost, low-carbon clean energy infrastructure projects and promote growth in resource efficiency technologies, products and businesses.

Inspired Evolution’s measurable development impacts, which to date have achieved 23 times investment multiple for every US dollar invested, will improve energy access and reduce industry footprint, contributing to a brighter future for Sub-Saharan Africa’s people. Since inception, the Inspired Evolution platform has achieved 17 exits.

Evolution II Fund’s investors

African Development Bank, CDC Group, KLP Norfund Investments AS, Cyane Holdings Ltd, European Investment Bank, the Dutch Development Bank FMO, the Finnish Fund for Industrial Cooperation, the European Initiative on Clean, Renewable Energy, Energy Efficiency and Climate Change related to Development SICAV, SIF – Compartment Global Renewable Energy and Energy Efficiency Fund, Swedfund International AG, Morgan Stanley Alternative Investment Partners, Swiss Investment Fund for Emerging Markets managed by Obviam and a US healthcare system. For more information, please visit