Afreenergy Solar Secures €12M Senior Debt from Camco’s REPP 2 for Senegalese C&I Portfolio

DAKAR & LONDON — REPP 2, the second flagship climate finance facility managed by Camco, has provided a €12 million (~$13.0 million) senior debt facility to renewable energy developer Afreenergy Solar.

The structured portfolio debt facility will refinance an existing operational portfolio of rooftop solar PV assets while funding the construction and deployment of new distributed solar and battery storage installations for commercial and industrial (C&I) clients across Senegal.

Platform Structuring & Portfolio Expansion

The transaction utilizes a portfolio-financing model aggregating contracted energy assets to provide long-term balance sheet capacity:

• Capacity Expansion: Scales Afreenergy Solar’s operational and development portfolio from 2.7 MWp to 14.9 MWp of rooftop solar PV capacity, integrated alongside 5.7 MWh of battery energy storage systems (BESS).
• Target Sectors: Deploys capital across high-demand off-takers in Senegal's retail, food manufacturing, agro-industrial, and infrastructure sectors.
• Customer Cost Savings: Off-takers are projected to reduce electricity expenses by approximately 30% under long-term energy agreements, with Afreenergy Solar retaining asset ownership and maintenance responsibility.
• Co-Investment Framework: Complements a €4.3 million (~$4.7 million) platform equity commitment secured from PIDG Project Development (InfraCo) earlier in 2026.
• Climate & Operational Impact: Avoids an estimated 21,300 tCO₂e in greenhouse gas emissions annually while delivering uninterruptible power supply to offset grid instability.

Executive Statements

"REPP 2 is backing Afreenergy Solar because it has built a scalable C&I model around long-term customer contracts and a growing portfolio of operating and development assets," stated Benjamin Hugues, Director at Camco. "This facility gives the business the balance-sheet capacity to accelerate deployment in Senegal and build a platform for larger industrial and mining projects across Africa."

"Competitive, long-term project finance is critical to delivering energy at scale and at the best possible cost to African businesses," added Christian Cachat, Chief Executive Officer of Afreenergy Solar. "Combined with the equity secured earlier this year, REPP 2’s facility strengthens our ability to invest in, own and operate assets under long-term energy agreements and provides a strong foundation for expansion into new markets and larger industrial and mining projects."

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