CARBON PROJECT
Africa Carbon One (ACOL).
Zambia cookstove distribution project developed and operated by The African Stove Company (TASC)
Investment summary.
- Spark+ investment
- USD 3.5m
- Instrument
- Project finance
- Facility type
- Carbon pre-finance
- Portfolio category
- CARBON PROJECT
- Countries of operation
- Zambia
- E&S risk classification
- C
- Portfolio status
- Active
Technology and business model.
Cookstove distribution project backed by carbon credit off-take agreement with voluntary market buyer
Investment narrative.
Africa Carbon One Limited is a Mauritius-incorporated project SPV wholly owned by The African Stove Company (TASC), a specialist carbon project developer with a long track record. The project finances free distribution of improved wood-burning cookstoves in rural Katete, eastern Zambia, executed by TASC with its on-ground operator Kucita (formerly Iposinet). The stoves will generate Verified Emission Reductions (VERs) under TASC’s existing Gold Standard PoA and carbon credits are pre-sold via an ERPA.
Spark+ financing is funding the procurement of 90,000 Ecoa stoves from Burn Manufacturing, in-country distribution, baseline and usage monitoring, and verification/issuance costs, scaling clean cooking access for households that could not otherwise afford a stove.
Use of proceeds.
Procurement of 90,000 Burn Ecoa stoves, distribution and monitoring activities, and the costs associated with carbon verification and issuance.
Company.
- Registered name
- Africa Carbon One Limited (ACOL)