FP080
Zambia Renewable Energy Financing Framework
Zambia Renewable Energy Financing Framework
Supporting the Government of Zambia catalyze private investment in the renewable energy sector to boost electricity generation and diversify the country's energy mix.
Energy generation in Zambia relies almost entirely on hydro power, accounting for nearly 90 percent of its total installed generation capacity. While the country's electrification rate stands at approximately 27.9 percent, it is facing a serious electricity supply deficit from recent droughts.
This initiative will support the Government of Zambia's Renewable Energy Feed-in Tariff (REFIT) policy to develop 100 MW of renewable projects, mostly solar power, through long-tenor project loans. It will provide technical assistance to build capacity for rural electrification, currently at 4 percent, and help local financial institutions carry out renewables and project finance.
The project has an estimated lifespan of 23 years.
Project timeline
Pipeline
27 Jul 2017 - 218 days
Funding proposal received
27 Jul 2017
Cleared by GCF Secretariat
15 Dec 2017
Cleared by iTAP
26 Jan 2018
Approved
01 Mar 2018 - 719 days
Approved by GCF Board
01 Mar 2018
Legal opinion on AE's Internal Approval
09 Nov 2019
FAA executed
20 Nov 2019
Under implementation
17 Feb 2020 - 1,548 days so far
FAA effective
17 Feb 2020
Disbursement - USD 1,000,000
09 Nov 2021
To be completed
17 Feb 2025 - 281 days to go
-
Financing
- Private sector
- Public sector
-
Size
- Micro
- Small
- Medium
- Large
GCF financing2% disbursed
| Instrument | Amount |
|---|---|
| Loan | USD 50,000,000 |
| Grant | USD 2,500,000 |
| Total GCF Financing |
|---|
| USD 52,500,000 |
Co-financing
| Co-financer | Instrument | Amount |
|---|---|---|
| Co-Financing | Loan | USD 50,000,000 |
| Co-Financing | Loan | USD 12,500,000 |
| Co-Financing | Equity | USD 37,500,000 |
| Co-Financing | Grant | USD 1,500,000 |
| Total Co-Financing |
|---|
| USD 101,500,000 |
GCF Contacts
General media inquiries
GCF CommunicationsSend e-mail
Request for information
GCF Information DisclosureRequest information about this project
Project complaints and grievances
GCF Independent Redress Mechanism (IRM)Phone +82 32 458 6186 (KST)
File a complaint
Integrity issues
GCF Independent Integrity Unity (IIU)Phone +82 32 458 6714 (KST)
Send e-mail
Accredited Entity
African Development Bank
Climate Finance Expert
CCIA. Rue Jean Paul 11, Plateau, 01 BP 1387 Abidjan 01., Abidjan, Cote d'Ivoire
More contacts
National Designated Authority
Ministry of Green Economy and Environment
Documents
| Title | Type | Date |
|---|---|---|
| Gender action plan for FP080: Zambia Renewable Energy Financing Framework | Gender action plan | 23 May 2018 |
| Gender assessment for FP080: Zambia Renewable Energy Financing Framework | Gender assessment | 22 May 2018 |
| Zambia renewable energy financing framework | Approved funding proposal | 27 Mar 2018 |
| Environmental and social safeguards (ESS) report for FP080: Zambia Renewable Energy Financing Framework | Environmental and Social Safeguards report | 22 Feb 2018 |
News + Stories
GCF and AfDB partner to increase renewable power in Zambia
21 Nov 2019 / The Green Climate Fund (GCF) and the African Development Bank (AfDB) are working together to support a USD 154.0 million renewable energy financing framework in Zambia. Historically, Zambia has relied on hydropower generation for 90% of its energy needs. Since 2015, Zambia has faced challenges in meeting the country’s electricity demand – a challenge that is exacerbated by climate-induced droughts that limit hydroelectric generation.