FP163

Sustainable Renewables Risk Mitigation Initiative (SRMI) Facility

Sustainable Renewables Risk Mitigation Initiative (SRMI) Facility

  • Status Under implementation
  • Date approved 19 Mar 2021 at B.28
  • Est. completion 16 Apr 2033
  • ESS Category Category A

Falling technology costs are making investment in renewable energy commercially viable in increasingly more countries. Nevertheless, global investment remains below the targets needed to meet the Paris Agreement. Achieving universal access to electricity will require rapid growth in the share of variable renewable energy used in global power generation.

This programme is designed to help unlock the large amounts of private finance needed to complement the limited public funding available. It will help the seven target countries shift to low-emission sustainable development pathways and increase access to affordable, reliable, sustainable and modern energy. To do this, the programme will support the use of technical assistance, public investments and risk mitigation instruments.

Total project value

 

Tonnes of emissions avoided

 

Theme

Mitigation

Result areas

Project timeline

Pipeline

20 May 2020 - 304 days

Funding proposal received

20 May 2020

Cleared by GCF Secretariat

17 Aug 2020

Legal opinion on AE's Internal Approval

19 Feb 2021

Cleared by iTAP

23 Feb 2021

Approved

19 Mar 2021 - 29 days

Approved by GCF Board

19 Mar 2021

FAA executed

19 Mar 2021

Under implementation

16 Apr 2021 - 5 days so far

FAA effective

16 Apr 2021

Completed

16 Apr 2033 - 4,380 days to go

Two regions

  • Africa
  • Asia-Pacific

Seven countries

Two priority groups

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

GCF financing

InstrumentAmount
GrantUSD 54,000,000
GrantUSD 30,000,000
LoanUSD 176,000,000
GuaranteeUSD 20,000,000
Total GCF Financing
USD 280,000,000

Cofinancing

CofinancerInstrumentAmount
Co-FinancingGrantUSD 1,500,000
Co-FinancingLoanUSD 459,500,000
Co-FinancingLoanUSD 750,000,000
Co-FinancingGrantUSD 72,500,000
Total Co-Financing
USD 1,283,500,000

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

More contacts

National Designated Authority

Botswana
Ministry of Finance and Economic Development
Mr. Boniface Mphetlhe
Deputy Secretary
Government Enclave, State Drive, P/Bag 008, Gaborone, Botswana
Phone +267 3950350
bmphetlhe@gov.bw
Central African Republic
Ministry of Environment and Sustainable Development
Mr. Boris Bemokolo
Focal Point
Phone +236 75 09 63 25
borisbemokolo@yahoo.fr
Tola Kogadou Igor Gildas
Mr. Thierry Kamach
Minister
Phone +236 75 50 16 25
thierrykamach34@gmail.com
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
Mali
The Environment and Sustainable Development Agency
Mr Boureima Camara
Director General of the Environment and Sustainable Development Agency
Cite Administrative – Batiment No. 7 – BP: 1634, Bamako, Mali
Phone (+223) 66 80 57 56
bouricamara@gmail.com
Namibia
Ministry of Environment and Tourism
Mr Petrus Muteyauli
Deputy Director, Multilateral Environmental Agreements, Department of Environmental Affairs
Ministry of Environment and Tourism, Private Bag 13306, Windhoek, Namibia, Windhoek, Namibia
Mr. Teofilus Nghitila
Environmental Commissioner
Private Bag 13306, Windhoek, Namibia, Windhoek, Namibia
Mr. Jonathan Kamwi
Chief Conservation Scientist - Climate Change
Private Bag 13306, Windhoek, Namibia, Windhoek, Namibia
Uzbekistan
Ministry of Investments and Foreign Trade of the Republic of Uzbekistan
Mr Badriddin Abidov
Deputy Minister
1 Islam Karimov Str., Tashkent city, Uzbekistan
Phone +998 71 238 50 81
gcfnda@mift.uz

Documents