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projectFP080

Zambia Renewable Energy Financing Framework

3991932
TONNES of CO2 Anticipated tonnes of CO2 equivalent avoided

Impact

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

Location & People

Region
  • Africa
Country
  • Zambia ZMB

Investment Data

  • Financing:
    • Public
    • Public / Private
    • Private
  • Project size:
    • Micro
    • Small
    • Medium
    • Large
  • E&S Risk category:
    • Category A
    • Category B
    • Category C
Total project investment
GCF Financing
  • Instrument Loan USD
  • Instrument Grant USD
Co-Financing
  • African Development Bank Loan USD
  • NAPSA / Commercial Banks / Other investors Loan USD
  • Project Sponsors Equity USD
  • African Development Bank Grant USD

Project owners

Accredited Entity Executing Entity
  • African Development Bank
Zambia Renewable Energy Financing Framework Approved March 2018 Est. implementation period 5.0 years
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.
Document title Published date
Funding proposal 27 Mar 2018
ESS report 22 Feb 2018
Gender assessment 22 May 2018
Gender action plan 23 May 2018
Accredited Entity
  • African Development Bank (AfDB) Mr. Timothy Afful-Koomson
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