British International Investment (BII) has allocated $20 million to Acumen’s Hardest-to-Reach (H2R) Initiative to expand energy access in underserved African regions.
This ambitious initiative addresses the continent’s most challenging markets, where nearly 600 million Africans lack reliable power.
The funds will be directed through H2R Amplify, a debt-focused arm that provides impact-linked loans to off-grid solar firms aiming to scale operations across frontier economies.
Driving energy access in Africa’s toughest markets
H2R Amplify supports established solar businesses to grow, backed by a tiered finance structure designed to attract commercial investors by minimising risks and boosting returns.
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Since its launch, H2R Amplify has raised $123 million, while the broader H2R initiative, including its Catalyse arm supporting early-stage ventures, has gathered $246.5 million total to unlock energy in 17 sub-Saharan countries.
This initiative aims to reach around 70 million individuals living far from existing energy grids, like those in Malawi, Burkina Faso, and Sierra Leone, where electrification rates fall below 40%.
Chris Chijiutomi, Managing Director and Head of Africa at BII, asserted, “With nearly 600 million people in Africa still lacking access to energy, we’re focused on investing in inclusive energy solutions to close this gap. We also recognise that women bear the disproportionate burden of energy poverty, so that H2R Amplify will create economic opportunities for women through its off-grid solar investments.”
Jacqueline Novogratz, Acumen’s CEO, added that this coalition between public, private, and philanthropic partners “shows how the right kind of capital can build markets that endure and unlock human potential”.
The power of blended financing to expand energy
This expansion relies on a blended finance model, combining debt, equity, grants, and technical assistance. The effort also includes the Green Climate Fund, IFC, Shinhan Bank, Soros Economic Development Fund, and Nordic Development Fund. By structuring finance to de-risk investments in challenging markets, the initiative tackles the persistent challenge of scarce suitable capital for Africa’s energy frontier.
Acumen has also backed other projects, such as Husk Power in the Democratic Republic of Congo and Yellow Malawi, which have successfully delivered solar solutions to thousands.
This $20 million injection from BII adds momentum to these efforts, enabling millions more Africans to access clean, reliable energy that improves daily life and economic opportunities.