A group of investors and lenders is creating a $400m fund to invest more flexibly in power plants in Africa. Speaking at the Africa Energy Forum in Lisbon on 13 June, Lion’s Head Global Partners co-chief executive Clemens Calice said the equity portion of the first close of about $120m for the Facility for Energy Inclusion (FEI) on-grid fund was completed and that it was now in the process of bringing in loan finance.