Bamboo Capital Partners, a private equity firm delivering positive social and financial value, and BBOXX, a next generation utility for clean energy, announced their BEAM investment platform, which aims to give access to energy to off-grid communities in the developing world.
It is set up to deploy USD$50 million in equity for distributed energy service companies and unlock further debt capital, joint ventures and co-investments. The first equity investment of BEAM constituted BBOXX and its data-driven distributed energy service companies to further catalyze these processes.
By spanning solar home systems, large solar and metering applications, such as pumps or mini-grids, BEAM tries to aid 1.1 billion people across the world without any access to reliable energy with the support of further energy service companies. With its first deployment BEAM focused on only ten countries, further global projects to come.
With their focus on distributed businesses, BEAM helps skipping the need for developing countries to invest in expensive traditional grid infrastructure and simultaneously aiding the economic growth of these countries. Also, the distributed energy service companies benefit from BBOXS’ data-driven smart technology, in order to improve the operational efficiency as well as the improvement of customer service.
“BEAM will catalyze substantial investment into off – grid energy access initiatives across the developing world. By drawing in and encouraging further capital via joint ventures debt and co – investments, we have a bold and ambitious vision of providing millions more with access to energy to improve their everyday lives,” explained Jean-Philippe de Schrevel, Founder at Bamboo Capital Partners.
Source: Bamboo Capital Partners
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