FP080

Zambia Renewable Energy Financing Framework

Zambia Renewable Energy Financing Framework

  • Status Under implementation
  • Date approved 01 Mar 2018 at B.19
  • Est. completion 17 Feb 2025
  • ESS Category Category B

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.

Total project value

 

Tonnes of emissions avoided

 

Theme

Mitigation

Result areas

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

FAA executed

20 Nov 2019

Under implementation

17 Feb 2020 - 524 days so far

FAA effective

17 Feb 2020

Completed

17 Feb 2025 - 1,305 days to go

One region

  • Africa

One country

Two priority groups

  • Least Developed Countries
  • African States
USD  
  • Financing
    • Private sector
    • Public sector
  • Size
    • Micro
    • Small
    • Medium
    • Large

GCF financing

InstrumentAmount
LoanUSD 50,000,000
GrantUSD 2,500,000
Total GCF Financing
USD 52,500,000

Cofinancing

CofinancerInstrumentAmount
Co-FinancingLoanUSD 50,000,000
Co-FinancingLoanUSD 12,500,000
Co-FinancingEquityUSD 37,500,000
Co-FinancingGrantUSD 1,500,000
Total Co-Financing
USD 101,500,000

GCF Contacts

General media inquiries

GCF Communications
Phone +82 32 4458 6338 (KST)
Send e-mail

Request for information

GCF Information Disclosure
Request information about this project

Project complaints and grievances

GCF Independent Redress Mechanism (IRM)
Phone +82 32 458 6485 (KST)
File a complaint

Integrity issues

GCF Independent Integrity Unity (IIU)
Phone +82 32 458 6155 (KST)
Send e-mail

Accredited Entity

African Development Bank
Mr. Timothy Afful-Koomson
Chief Climate Finance Officer
More contacts

National Designated Authority

Zambia
Ministry of National Development Planning
Mr. Francis Mpampi
National Coordinator - National Designated Authority
P.O. Box 50555, Corner of John Mbita and National, Lusaka, Zambia
Phone +260 21 1 252625
francis.mpampi@ndazambia.gov.zm

Documents

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.