Church Pension Fund provides US$17 million for off-grid solar loans in Africa and South Asia

Facebook
Twitter
LinkedIn
Reddit
Email
Credit: CPF

The Church Pension Fund (CPF), a financial services organization that serves the Episcopal Church, has invested US$17 million in a fund that provides loans to microfinance institutions, distribution companies, and manufacturers in the off-grid solar sector in sub-Saharan Africa and South Asia.

CPF’s investment went into the US$75 million Social Investment Managers & Advisors (SIMA) Off-Grid Solar and Financial Access Senior Debt Fund I, B.V.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Asad Mahmood, CEO and managing partner of SIMA, said: “This investment will enable customers of solar energy to lease on an affordable installment basis and will impact the lives of more than one million people while reducing carbon dioxide by four million tons.”

Roger Sayler, executive vice president and chief investment officer of CPF, said: “This investment represents our second investment focused on the off-grid solar sector as market conditions in this space remain extremely strong. This investment offers us the opportunity to provide funding for much-needed financing while also earning a competitive rate of return.”

CPF, which has US$13 billion in assets, has also recently invested in the Developing World Markets’ Off-Grid, Renewable and Climate Action Impact Note.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
May 21, 2024
Sydney, Australia
Solar Media Events
May 21, 2024
Napa, USA
Solar Media Events
May 22, 2024
London, UK
Upcoming Webinars
May 29, 2024
11am (EDT) / 5pm (CEST)