Climate ventures raising > $200m

Major investors have long complained that it's hard to deploy capital in Africa's green economy because the ticket sizes are small. But that may be changing.

Two weeks ago we published a list of 20 companies seeking investments of up to $200m. The strength of the list was a sign of confidence in the market.

• But a few companies are raising amounts even higher than $200m. Today we feature three of them.

In the pipeline: The mega-raisers have one thing in common – they're all energy-related.

A. Burn Manufacturing:

• Raising amount: $250m in debt, equity and carbon-offset finance

• Use of funds: Distribute one million electric cookstoves to urban, low-income, grid-connected households in six countries within two years

• What has changed: Carbon finance allows cookstove makers to scale

B. Husk Power:

• Raising amount: $500m in debt and equity

• Use of funds: Build 2,500 mini-grids within five years

• What has changed: As mini-grids become more bankable, the sector becomes attractive to PE and infrastructure funds

C. Xlinks:

• Raising amount: >£30bn in debt and equity

• Use of funds: Develop renewable power generation in Morocco plus a 3,800km subsea transmission line to the UK to supply 8% of national needs

• What has changed: Surging power prices in Europe could turn Africa into a viable power exporter

In a nutshell: Globally, the investment climate remains difficult. But boards and advisers in Africa's green economy are confident enough to take big asks to investors. That suggests growing optimism at least among some African climate companies.

Reality check: Only 3% of global climate finance currently finds its way to Africa, says the Climate Policy Initiative. And an ask is not yet a get.