FP148

Participation in Energy Access Relief Facility ("EARF")

Participation in Energy Access Relief Facility ("EARF")

  • Status Under implementation
  • Date approved 13 Nov 2020 at B.27
  • Est. completion Under revision
  • ESS Category Intermediation 3

Sub-Saharan Africa faces unique and acute challenges in the global fight to mitigate and adapt to climate change. On one front, the impacts of climate change are predicted to be more severe. At the same time, 548 million people in sub-Saharan Africa do not have access to electricity and instead have to rely on kerosene and diesel generators for lighting, while another 900 million (85% of the population) lack access to clean cooking fuels and technologies, causing rapid deforestation. In this context, energy access companies in the region are playing a major role in providing clean energy access to vulnerable people, but they now find their continued existence in peril due to the economic effects of the ongoing COVID-19 pandemic. 

As the energy access sector has matured and scaled up over the years, it has shifted the development pathway of Africa towards a renewable future. This has entailed replacing gas generators with powerful solar home systems, fuelwood stoves with electric pressure cookers, and diesel water pumps with solar-powered irrigation. 

The Energy Access Relief Facility (“EARF”) is a concessional debt fund that is intended to provide energy access companies with vital liquidity during this crisis, in the form of low-interest, unsecured junior loans.  GCF will channel its investment into Climate CV, which, in turn, will participate in EARF loans to eligible companies operating in NOL countries. The aim of these loans is to help companies remain solvent, maintain staff and supply lines, be positioned to drive the post-COVID-19 recovery, and reduce 1.3 million tonnes of carbon dioxide equivalent (MtCO₂eq) in emissions. 

Total project value

 

Tonnes of emissions avoided

 

Theme

Mitigation

Result areas

Project timeline

Pipeline

10 Jul 2020 - 127 days

Funding proposal received

10 Jul 2020

Legal opinion on AE's Internal Approval

31 Aug 2020

Cleared by GCF Secretariat

25 Sep 2020

Cleared by iTAP

19 Oct 2020

Approved

13 Nov 2020 - 357 days

Approved by GCF Board

13 Nov 2020

FAA executed

09 Jul 2021

Under implementation

04 Nov 2021 - 196 days so far

FAA effective

04 Nov 2021

Disbursement - USD 20,000,000

28 Feb 2022

Completed

Est. completion date under revision

One region

  • Africa

Nine countries

Two priority groups

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

GCF financing67% disbursed

InstrumentAmount
EquityUSD 30,000,000
Total GCF Financing
USD 30,000,000

Co-financing

Co-financerInstrumentAmount
Co-FinancingLoanUSD 26,300,000
Co-FinancingGrantUSD 3,700,000
Total Co-Financing
USD 30,000,000

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 6186 (KST)
File a complaint

Integrity issues

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

Accredited Entity

Acumen Fund, Inc.
Ms. Lynn Roland
Primary

General Counsel
Phone +1 (212) 566-8821
lroland@acumen.org
Ms. Katherine Montgomery
Secondary

Director of Business Development, Government Partnerships
Phone +254 716 252 802
kmontgomery@acumen.org
More contacts

National Designated Authority

Uganda
Ministry of Finance, Planning and Economic Development
Mr. Ramathan Ggoobi
Permanent Secretary / Secretary to the Treasury
Phone +256414707135
ramathan.ggoobi@finance.go.ug
Mr. Andrew Masaba
Principal Economist / Climate Finance Desk Officer, Development Assistance and Regional Cooperation
Nigeria
Federal Ministry of Environment
Ms. Aniobong Abiola-Awe
Director of the Department of Climate Change
Phone +2348034452959
iniabiolawe@yahoo.co.uk
Democratic Republic of the Congo
National Coordination of the Green Climate Fund
Mr. Hans André Lohayo Djamba
Coordinator
15, Avenue Papa Iléo (ex-des Cliniques) Commune de la Gombe, Kinshasa, Democratic Republic of the Congo (the)
Kenya
The National Treasury
Mr. Julius Muia
Principal Secretary
Treasury Building, Harambee Avenue, P.O Box 30007-00100, Nairobi, Kenya
Phone +254 20 224 0051
ps@treasury.go.ke
Mr. Peter Odhengo
Senior Policy Advisor, Climate Finance
Phone +254 722 984992
odhengo@gmail.com
Mr. Hillary Korir
Economist
Senegal
Ministry of Environment and Sustainable Development
Ms. Madeleine Diouf Sarr
Head of Climate Change Division
Parc Forestier de Hann, B.P. 4055 Dakar, Senegal, Dakar, Senegal
Mozambique
Ministry of Economy and Finance – National Directorate for Monitoring and Evaluation
Mr. Albano Manjate
Deputy National Director of Monitoring and Evaluation
Phone +258 828969570
Phone +258 843969570
albanomanjate@gmail.com
Sierra Leone
Environment Protection Agency
Dr. Bondi Gevao
Executive Chairman
Phone +23230082924
Phone +23279049175
gevaob@yahoo.com
bondi.gevao@epa.gov.sl
Rwanda
Rwanda Environment Management Authority
Mrs. Juliet Kabera
Director General
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

The growing urgency of funding off-grid solar: Exploring the multi-billion dollar investment opportunity in achieving climate and energy access goals

02 Feb 2022 /

GCF boosts COVID-19 low-carbon energy relief with anchor investment

01 Sep 2021 / Green Climate Fund (GCF) backing has been crucial in an emergency relief fund launched today that shields clean energy companies in developing countries from COVID-19 economic shocks to keep low-carbon trajectories on track. The USD 80 million Energy Access Relief Fund (EARF) has drawn together a unique coalition of financial support for 90 companies in Africa and Asia that have been filling energy access gaps with low-carbon solutions but now face bankruptcy form the COIVD-19 fallout. EARF will keep these companies financially solvent by providing them with short-term loans.