Universal Green Energy Access Programme (GCF-FP027)

Countries
  • Benin
  • Kenya
  • Namibia
  • Nigeria
  • Tanzania
Where the impacts of the investment may be experienced.
Financial Institutions
  • Green Climate Fund (GCF)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
U
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Oct 3, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
The Universal Green Energy Access Program S.A.SIC-SICAV
The holder of the loan, grant, or other investment.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity, Grant
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 80.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Grant Amount (USD)
$ 1.60 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 301.60 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ GCF website

Updated in EWS Jul 10, 2018

Disclosed by Bank Jul 7, 2017


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Project Description

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.

Investment Description
  • Green Climate Fund (GCF)

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.

Co-Financing
  • Deutsche BankEquityUSD 9.0 M
  • Private SectorEquityUSD 192.6 M
  • Public SectorEquityUSD 20.0 M
Contact Information

Deutsche Bank AktienGesellschaft (Deutsche Bank AG)
Ms. Susanne Kern
Tel: +49 69 910 60585
susanne.kern@db.com
Mr. Michael Hölter
Tel: +49 69 910 30843
michael.hoelter@db.com

ACCOUNTABILITY MECHANISM OF GREEN CLIMATE FUND

The Independent Redress Mechanism (IRM) is the independent complaint mechanism for a person or people who have been or believe they are likely to be adversely affected by a project or programme funded by the Green Climate Fund. If you submit a complaint to the IRM, it may seek to address the issues raised by facilitating a problem-solving dialogue or, if that is not possible, conducting an independent investigation into whether the GCF has complied with its environmental and social policies. The IRM is newly created and is still in the process of developing its procedures and website. More information about the IRM and how you can file a complaint is forthcoming. You can contact the IRM at irm@gcfund.org.