BBOXX and Bamboo create finance platform BEAM for off-grid sector

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A new pioneering platform called BEAM has been launched today in Sub-Saharan Africa and Asia. The platform, which is the first of its kind, is set to revolutionize access to energy for millions in regions where it is unreliable.

The two companies are set to deploy, via BEAM, $50 million in equity for distributed energy service companies (DESCO), and is to further unlock more debt capital.

The platform is a result of the synergy between Bamboo Capital Partners, a private equity firm providing positive social and financial value, and BBOXX, a British next generation utility.

BEAM will firstly provide off-grid energy to consumers in parts of Africa and Asia, which will be managed with a first equity investment in BBOXX and DESCO. This will scale hopefully and generate greater impact in their respective markets. In addition to the equity capital from BEAM, the investment platform will organize further capital through debt, joint ventures and co-investments.

BEAM looks to play an important role in developing off-grid energy infrastructure in the developing world, delivering energy services aimed at lowering the 1.1 billion number of people who lack access to electricity.

The platform will seek to develop the growth of existing off-grid energy service companies found in sub-Saharan Africa and Asia, spanning solar home systems, large solar, and metering applications, such as pumps and mini-grids.

Ten countries will be the first focus of the initial capital deployment. The vision is for this first effort to disrupt the market and scale across continents.

Jean-Philippe de Schevel, founder at Bamboo Capital Partners, emphasized how BEAM will help developing countries to invest in traditionally expensive grid infrastructures, which will engender economic growth.

“BEAM will catalyze substantial investment into off-grid energy access initiatives across the developing world,” de Schevel said. “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.

“The vision of BEAM is to grow and thereby unlock this multi-billion dollar market.”

Working alongside BBOXX will provide partnering firms access to their data-driven smart technology, which will improve operational efficiency, alongside providing better customer service.

Mansoor Hamayun, Chief Executive Officer of BBOXX said, “BEAM solves two key market failures to scale DESCOs across the developing world – firstly, access to equity before debt becomes viable, and secondly it allows to drive dis-aggregation in what has been a vertical integrated model – both essential to scale.

“The BEAM model will allow to take our successful model in Rwanda and Kenya and expand it across Africa and Asia by solving a key financial challenge.”