Press Releases
Mourant advises Acumen on multi-million dollar investment fund to scale clean energy in Sub-Saharan Africa
Mourant, a law firm-led professional services business, has advised Acumen on all Guernsey legal aspects of the formation of its new Guernsey impact fund – the Hardest to Reach (H2R) initiative – its first-of-a-kind blended finance strategy which aims to activate markets for clean and inclusive energy in Sub-Saharan Africa.
Acumen is a global community of entrepreneurs, investors, philanthropists, and social innovators working to break the cycle of poverty. This latest initiative, which has secured US$246.5 million in approved and committed capital, aims to achieve positive social and climate impact, while also generating financial returns for investors through supporting off-grid solar distribution into sub-Saharan Africa's underserved markets – helping achieve energy access for all.
A diverse set of public and private institutions, including the Green Climate Fund, International Finance Corporation, Shinhan Bank, British International Investment, Soros Economic Development Fund, Nordic Development Fund, Signify Foundation, and ImpactAssets, joined forces to be part of this next chapter for the H2R initiative.
Launched at COP28 in 2023, H2R represents Acumen's most ambitious energy effort to date. The initiative aims to reach nearly 70 million people across 17 countries, including 50 million first-time energy users in areas with some of the lowest electrification rates in the world.
The Mourant team was led by Guernsey investment funds specialist, Frances Watson (Partner), supported by Alasdair McKenzie (Senior Associate) and Lauren Ingrouille (Associate).
Commenting on the transaction, Frances said:
"We're delighted to have supported Acumen on the successful launch of the Hardest to Reach initiative. This project demonstrates how innovative investment structures can drive meaningful social and climate impact, while also seeking to deliver a return for investors.
"Our team's deep understanding of Guernsey’s regulatory landscape, combined with close collaboration with Acumen and our instructing onshore counsel, enabled the successful completion of this important transaction. We are proud to have played a part in advancing access to clean, affordable energy in Sub-Saharan Africa, and look forward to supporting further initiatives that create positive environmental change in the future."
For further information please contact:
Chloe Whittaker, External Communications and Content Manager:
[email protected]
About Mourant
Mourant is a law firm-led, professional services business with over 60 years' experience in the financial services sector.
We advise on the laws of the British Virgin Islands, the Cayman Islands, Guernsey, Jersey and Luxembourg and provide specialist entity management, governance, regulatory and consulting services.
We are an international and globally-integrated firm with offices in a number of the world's leading international finance centres, including London and Hong Kong. Our business is intrinsically linked to the global economy and the capital flows that support it. We serve the needs of our clients in all major time zones, facilitating responsible cross-border finance and investment, the pooling and protection of capital and the resolution of disputes.
Our clients include many of the world's leading financial institutions, international corporations, asset managers and institutional investors. We are routinely instructed to work alongside the world's pre-eminent legal, accounting and financial services firms.
We have an outstanding reputation for integrity and professional ethics, underpinned by a strong risk management culture.
Find out more: mourant.com
29 September 2025