PARIS, Feb 24 Reuters A new investment fund with 87.5 million euros 92.63 million will finance solar power production across Africa, with a focus on West and Central Africa, French fund manager RGREEN INVEST and investment adviser ECHOSYS INVEST said on Friday.

The AFRIGREEEN Debt Impact Fund39;s first closing will finance on and offgrid solar power plants for small and mediumsized commercial and industrial consumers across the continent, the statement said.

The project aims to provide direct lending and assetbased debt facilities for regional and international developers and African commercial and industrial companies to develop solar infrastructure.

The groups are looking to have a portfolio of twenty to thirty investments, with aim of meeting longterm debt financing needs of between 10 and 15 million euros, with an average of around 5 million euros over eight to ten years, the statement said.

The fund also includes and offer of longterm local currency financing in Ghana and Nigeria with support from the International Development Association39;s Private Sector Window Local Currency Facility.

The Fund39;s will measure impact targets in terms of megawatts MW installed, megawtthours MWh produced, tonnes of CO2 emissions and litres of fuel avoided, and number of companies directly or indirectly accessing new financing channel, it said.

The impact will also be measured by the number of commercial and industrial companies able to upgrade their power generation…