Acumen, in partnership with the Nordic Development Fund (NDF), has officially launched the fully operational Hardest-to-Reach Initiative (H2R), a pioneering effort to expand clean energy access in underserved communities across Sub-Saharan Africa. The initiative leverages blended finance to address energy poverty, focusing on regions where traditional capital has historically failed to reach. NDF is contributing USD 10.5 million in concessional funding to incentivize off-grid solar companies to provide affordable energy to previously unserved or first-time users, while also promoting gender inclusion, climate adaptation, and resilience.
H2R has secured a total of USD 246.5 million in approved and committed capital, including USD 189.5 million for H2R Amplify, its debt vehicle designed to provide reliable growth capital, and USD 57 million through H2R Catalyze, a flexible facility supporting early-stage energy companies. Together, these mechanisms aim to deliver electricity access to communities with some of the lowest electrification rates in the world, including countries like Malawi, Burkina Faso, and Sierra Leone, where many households remain without reliable energy.
Launched at COP28 in 2023 and anchored by funding from the Green Climate Fund, H2R represents Acumen’s most ambitious energy effort to date, aiming to reach 70 million people, including 50 million first-time energy users. By combining public, private, and philanthropic financing, the initiative demonstrates how capital can be aligned with purpose to tackle energy poverty at scale. Acumen CEO Jacqueline Novogratz emphasizes that this model is a unique example of collaboration designed not just to invest, but to deliver transformative social and environmental impact.
With H2R now fully operational, the initiative is set to transform lives in sub-Saharan Africa by increasing electricity access, improving livelihoods, and driving sustainable development in some of the continent’s most energy-poor regions.
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