Camco's Impact in 2020

Our Commitment

Geoff Sinclair - Managing Director, Camco Clean Energy


In a world of climate change and increasing inequality it can sometimes be hard to remain optimistic. But at Camco we know that solutions are already available and clean energy is already one of the best.

That’s why we’re getting on with it, providing practical financing solutions to scale the clean energy transition and bring forward a world that is smarter, healthier, safer and free-er.

This report is Camco’s first annual impact report, and also serves as our second Communication on Progress to the UN Global Compact, which we signed up to in April 2019. As you will see, sustainability underpins everything we do at Camco, shaping our approach to investing, how we manage the company and our team, the way we work with clients and partners, and the world we want to create.

Camco as a company was founded in 1989 and has evolved over time to become the leading climate and impact fund manager that it is today.

We manage the Renewable Energy Performance Platform – or REPP – which is a USD 200m UK government-funded facility that responsibly invests in small- and medium-size renewable energy projects across Sub Saharan Africa.

We also recently established the innovative USD 3m Spark seed facility for deployment into pilot commercial and industrial renewables and energy efficiency projects in Kenya and South Africa. Camco is already raising an extra USD 100m to execute on a strong deal pipeline.

And in January this year Camco became an Accredited Entity for the Green Climate Fund (GCF) which is a really exciting development for the company and one that enables us to propose private sector programmes to GCF for up to USD 250m of GCF money per programme.

As a climate and impact fund manager, we recognise the huge responsibility and opportunity we have for supporting both the Paris climate targets and the Sustainable Development Goals. Both remain core objectives of our work.

We are taking urgent action to combat climate change and its impacts in alignment with SDG13 by decoupling economic growth and carbon emissions and supporting implementation of countries’ climate policy, and we are supporting universal clean and affordable energy access as laid out in SDG 7 by investing in innovative renewable energy solutions.

We also prioritise SDG 9, which is about building resilient infrastructure, promoting inclusive and sustainable industrialisation and fostering innovation, by upgrading and retrofitting industries to make them more sustainable, resource-efficient and by adopting clean technologies.

Our impact does not end there. By providing first-time access to electricity and good jobs through our investments, for example, we support the first SDG to end poverty in all its forms. By limiting the use of pollutants through the deployment of clean technologies we support SDG3 and the promotion of good health and well-being, and by investing in women-owned or managed businesses and by promoting gender equality and social inclusion, we actively support SDG5. You can read more about our work in support of the SDGs in the Creating Sustainable Value section of this webpage.

Of course, the scale of the challenge in meeting climate action targets and the SDGs is huge, and the arrival of COVID-19 in late-2019 has made achieving these targets more challenging. On our part, we have increased our efforts to help tackle the energy challenges faced in developing countries and climate change more broadly by applying innovative financing solutions to sustainable energy and helping to rebuild into a more inclusive, more resilient, and more sustainable future.

Through the REPP fund, we have offered all investees COVID-19-related financial support and gave six-month interest moratoriums to help offset decreases in revenue and project delays. A separate COVID Working Capital support facility was also established to provide short-term working capital loans to help REPP investees and other renewable energy companies through the financial difficulties of the pandemic. But with the virus still showing no signs of abating, we know that the bulk of the work is likely still ahead of us and we remain committed to doing everything we can to support the projects, businesses and communities through this challenging time, just as we are to supporting the SDGs and global climate action.

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A Year in Review

2020 was an extraordinary year. The personal impact of COVID-19 on the team and the many people we work with has of course been deeply felt, and like everyone we are all hoping for a sense of normality to return very soon.

At a company level, Camco enjoyed a year of progress and development, welcoming more talented and experienced individuals to our team and opening new doors for the business to grow. These are some of the highlights:

USD 203m assets under management

During 2020, Camco had USD 203m assets under management.

Spark facility launched

Camco established Spark Energy Services, an innovative USD 3m seed facility for deployment into commercial and industrial renewables and energy efficiency projects in Africa. With the first project successfully completed and others on the way, Camco is already raising funds to unlock a strong deal pipeline.

GCF accreditation

Camco was approved to become a Green Climate Fund Accredited Entity. The company can now put forward proposals to the Fund – for third parties and on our own behalf - and then oversee, supervise, manage, and monitor these proposals when approved.

FCA regulation

Camco became authorised and regulated by the UK Financial Conduct Authority as an Alternative Investments Fund Manager.

Camco team expansion

Ten new recruits joined the Camco team over the last year, increasing the team size by more than a third and taking the total up to 26. Meet the team here.

Improved controls and governance

Camco’s Board established a Sustainable Business Committee and Audit and Risk Committee to provide independent oversight and guidance across the company’s operations.

Capacity-building events and publications

Camco hosted numerous capacity-building events for our project partners and the wider clean energy community over the year. These included well-attended webinars on gender mainstreaming and the importance of fit-for-purpose shareholders agreements and the REPP Academy for investees of the Camco-managed Renewable Energy Performance Platform (REPP). We also launched two free-to-use toolkits, co-developed an open-source investment resource with CBEA and its partners for the mini-grid sector, and released several publications including our first Communication on Progress as a UN Global Compact signatory, the Talking Points interview series with REPP investees in partnership with ESI Africa and a new quarterly impact report for REPP.

Thought leadership

Camco continued to assert its position as a thought leader in the clean energy sector in 2020 with senior team members appearing regularly as guest speakers and panellists at notable industry events including Africa Energy Forum and the UK-Africa Renewable Energy Ministerial Symposium. We also revamped our weekly newsletter to include more direct commentary on industry developments, and provided interviews and opinion pieces for ESI Africa, EnergyNet and other industry publications.

Industry award

Camco was recognised as the Renewable Energy Fund Manager – UK at EU Business News’ European Enterprise Awards 2020.

2020 Impact Highlights

Impact Approach

Our Vision

In the context of climate change and increasing inequality it would be easy to lose optimism. But at Camco we know that the solutions are already there, and that clean energy is one of the best.

That’s why we’re getting on with it, providing practical financing solutions to scale the clean energy transition and bring forward a world that is more abundant, affordable and profitable. A future for everyone that is smarter, healthier, safer, and free-er.

A brighter future, today.

Camco is a climate and impact fund manager, building towards a sustainable, low-carbon future. We engage in responsible investment that incorporates environmental, social and governance (ESG) factors into investment decisions to better manage risk and generate sustainable, long-term returns.

All investment activities carried out by Camco are governed by our own policies and procedures , as well as those applying to the third-party funds/facilities that Camco manages.

The chart below provides an overview of our investment approach:

our goal
invest responsibly
principles of gov
measure impact

Creating Sustainable Value


As a climate finance and impact fund manager investing in renewable energy and energy efficiency projects in developing economies, sustainability underpins everything we do and strive for at Camco. We only back projects and companies where negative environmental and social impacts can be satisfactorily mitigated within reasonable timescales, and only projects categorised low or medium risk - categories C/I-3 and B/I-2, respectively, according to IFC’s environmental and social categorisation - are eligible for our support. The very nature of Camco’s business means the company’s negative impact on the environment is small, but the positive impact on people and planet is significant.

Through its management of the USD 200m UK government-funded Renewable Energy Performance Platform (REPP), Camco is working to stimulate the development of a vibrant, networked and viable market for small and distributed renewable energy projects in African countries. Such a market is fundamental to helping ensure access to affordable, reliable and sustainable energy for all of the nearly 600m people still living without electricity in Sub-Saharan Africa and for taking urgent climate action.

Similarly, commercial and industrial businesses operating in Africa face major energy challenges that make it difficult to run their businesses profitably and sustainably. The Camco-seeded USD 3m Spark pilot facility targets the efficient deployment of capital for commercial and industrial project implementation in Africa. This requires the execution of many small deals without introducing unnecessary financial risk, which it does by partnering with - and building the capacity of - suitable project developers.

By the end of 2020, the following energy and climate impacts had been achieved through the REPP fund:

  • 580,000 people connected to electricity for the first time, with finance committed to projects that will lead to a further 1.8 million people being connected.
  • 8.4MW operational renewable energy capacity with 10.3MW under construction and finance committed towards a further 101 MW.
  • 16,095 tonnes of greenhouse gases mitigated, with an anticipated reduction of 240,000 tonnes per year by the end of 2023 through REPP’s current project portfolio.

Investment impacts

enabling change
govern well


Camco Team
Carbon footprints
Camco's governance
contribution to SDGs
Risk of not delivering


Bold and transformative steps are needed to shift the world onto a sustainable and resilient path. In recognition of this, we work in partnership with actors from the private, public and not-for-profit sectors to finance and implement clean energy projects, as well as to contribute to knowledge development and advocacy to strengthen the enabling environment for the implementation of SDG7 and SDG13.