Stephenson Harwood advises Acumen on launch of African clean energy fund

Law firm Stephenson Harwood LLP has advised Acumen, a global impact investor building markets to solve poverty, on the launch of its Hardest-to-Reach Initiative (H2R), which secured $246.5 million in approved and committed capital.

H2R is a first-of-its-kind blended finance strategy to scale clean and inclusive energy solutions in sub-Saharan Africa’s most underserved regions.

Launched at COP28 in 2023, H2R is anchored by an award from the Green Climate Fund (GCF) and represents Acumen’s most ambitious energy effort to date. The fund welcomes investment from key global partners including GCF, IFC - International Finance Corporation, British International Investment, Soros Economic Development Fund, Nordic Development Fund and Shinhan Bank.

The Stephenson Harwood team was led by Partner Nick Horton, and included Partners John Meehan, William Robertson and Shaun Park, Managing Associate Alan Sauvain and Associate Kim Owens.