Camco Annual Report 2024: Driving impact and innovation in sustainable development and climate action

Camco is pleased to announce the release of its 2024 annual report, which highlights the continued success of Camco-managed platforms and funds.

The report underscores Camco's ongoing efforts to drive transformational change across emerging markets as a climate and impact fund manager, focusing on creating lasting value through clean energy investments and strategic partnerships.

Key 2024 achievements

• Secured USD185m in total commitments for Camco’s blended finance fund, REPP 2, which aims to support renewable energy projects across Sub-Saharan Africa.

• Successfully closed the initial senior debt round for Spark Energy Services, Camco's innovative financing platform to support renewable energy and energy efficiency projects in Africa’s C&I sectors.

• The UK and New Zealand governments pledged GBP23.9m to support Camco’s blended finance fund for the Pacific, TIDES.

• Secured a grant from Convergence to strengthen Camco’s position in expanding clean energy solutions across the Pacific.

• Launched a new technical assistance facility to support the acceleration of REPP 2.

• Co-authored a white paper with AMDA on scaling mini-grid investments in Zambia to accelerate energy access.

Impact and progress

Camco’s cumulative impact to 31 December 2024 includes:

• 313MW of renewable energy capacity funded

• 1.4 million people provided with new or improved electricity connections

• 14,747 jobs created, including more than 3,000 held by women

• 184,940 tCO₂e mitigated through Camco-managed REPP and Spark

Looking ahead

Despite challenges, the demand for clean energy in Africa and the Pacific remains high, with Africa’s abundant natural resources and the Pacific’s need for resilient, affordable energy solutions offering significant investment potential.

"Looking ahead, Camco is in a strong position to capitalise on the growing demand for clean energy solutions in Africa and the Pacific," said Camco CEO, Geoff Sinclair.

"We are committed to scaling our operations, deploying capital effectively, and delivering strong returns for our investors while making a lasting positive impact on the communities we serve."

Read Camco's 2024 annual report here.