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projectFP027

Universal Green Energy Access Programme

50564677
TONNES of CO2 Anticipated tonnes of CO2 equivalent avoided

Impact

Mitigation
GCF results areas
  • Energy generation and access
UN Sustainable Development Goal #7 Affordable and clean energy

Location & People

Region
  • Africa
Countries
  • Benin BJ
  • Kenya KE
  • Namibia NA
  • Nigeria NG
  • Tanzania TZ

Investment Data

  • Financing:
    • Public
    • Private
  • Project size:
    • Micro
    • Small
    • Medium
    • Large
  • E&S Risk category:
    • Category I1
    • Category I2
    • Category I3
Total project investment
GCF Financing
  • Instrument Equity USD
  • Instrument Grant USD
Co-Financing
  • Deutsche Bank Equity USD
  • Private Sector Equity USD
  • Public Sector Equity USD

Project owners

Accredited Entity Executing Entity
  • The Universal Green Energy Access Program S.A.SIC-SICAV
Universal Green Energy Access Programme Approved October 2016 Duration 15.0 years
Contributing to universal access to electricity in Sub-Saharan Africa by scaling up investments in renewable energy from local financial markets and the international private sector.

This programme is an investment fund that will reduce GHG emissions by increasing access to clean electrical energy for mainly rural populations in Sub-Saharan Africa. It 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.
Document title Published date
Funding proposal 28 Sep 2016
FP027 ESS Report 21 Oct 2016
Accredited Entity
  • 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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