This programme aims to provide financing for decentralized energy service companies for off-grid and mini-grid systems for rural households and communities and renewable energy for industrial players.
Fossil fuel based energy production will be replaced with renewable, clean energy solutions that can meet increasing energy demand. Investments will target three types of projects. Off-grid renewable electricity energy in the form of solar home systems will be provided via an affordable payment plan. Green mini-grid projects will also be supported via companies that install, operate and maintain photovoltaic based mini-grids to sell energy services in rural communities. Finally, industrial renewable electrical energy and selected on-grid installations will be targeted, by investing in companies that provide modular, transportable, and often rented photovoltaic farms, offering SMEs and communities competitively-priced solar power. Around 50 investments will be made, totalling a volume of USD 500M over the course of five years, and via two phases.
At a later stage, the programme will work with local financial institutions to enable banks to provide long-term loans to businesses that provide clean electricity solutions. A public-private partnership instrument will leverage at least two-fold the impact of public capital through private investment.
USD 78.4M GCF financing in the form of equity will be provided for phase I of the programme. The grant element of USD 1.6M indicated above is subject to GCF Board approval at B.15.
Deutsche Bank AktienGesellschaft (Deutsche Bank AG)
Ms. Susanne Kern
Tel: +49 69 910 60585
Mr. Michael Hölter
Tel: +49 69 910 30843
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