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 - 1,050 days so far

FAA effective

16 Apr 2021

Disbursement - USD 43,000,000

26 Apr 2022

Disbursement - USD 4,000,000

26 Apr 2022

Completed

16 Apr 2033 - 3,334 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 financing17% disbursed

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

Co-financing

Co-financerInstrumentAmount
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
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 6714 (KST)
Send e-mail

Accredited Entity

International Bank for Reconstruction and Development and International Development Association
Mr. Zhihong Zhang
Primary

Senior Carbon Finance Specialist
The World Bank 1818 H Street, NW MSN MC3-309 Washington DC 20433 USA, Washington, United States
More contacts

National Designated Authority

Botswana
Ministry of Finance and Economic Development
Ms. Keineetse Lepekoane Primary
Director, Development Programmes
Phone +267 3950353
klepekoane@gov.bw
Ms. Catherine Matongo Primary
Chief Economist
Phone +267 398 9990
cmatongo@gov.bw
Ms. Keneilwe Bolebano Primary
Principal Economist
Government Enclave, State Drive,, Gaborone, Botswana
Phone +267 3950378
kbolebano@gov.bw
Ms. Gaanewe Mogotsi Primary
Deputy Director, Development Programmes
Government Enclave, State Drive, P/Bag 008, Goborone, Botswana
Phone +267 3950224
gnmogotsi@gov.bw
Central African Republic (the)
Ministry of Environment and Sustainable Development
Mr. Boris Bemokolo Primary
Focal Point
Phone +236 75 09 63 25
borisbemokolo@yahoo.fr
Tola Gildas Primary
Mr. Thierry Kamach Secondary
Minister
Phone +236 75 50 16 25
thierrykamach34@gmail.com
Democratic Republic of the Congo (the)
National Coordination of the Green Climate Fund
Prof. Isaac KALONDA KANYAMA Primary
National Coordinator and GCF Focal Point for the Democratric Republic of the Congo
Ms. Francine KATANGA MUTANDA Secondary
Deputy GCF Coordinator
Kenya
The National Treasury
Dr Chris Kiptoo Primary
Principal Secretary
Treasury Building 12th Floor, Harambee Avenue, Nairobi, Kenya
Phone +254 20 224 0051
pstnt@treasury.go.ke
Mr. Malik Aman Secondary
Programme Manager, National Coordination (FLLoCA)
Phone +254 720 771774
malikaman@me.com
Mr. Peter Odhengo Secondary
Senior Policy Advisor, Climate Finance
Phone +254 722 984 992
podhengo@climatefinanceken.go.ke
Mr. Hillary Korir Secondary
Senior Economist
Phone +254 722 644736
hillary.korir@treasury.go.ke
Mali
The Environment and Sustainable Development Agency
Mr. Zantigui KONE Primary
Director General
Phone +223 78 81 08 88
zantiguibkone@yahoo.fr
Mr. Amidou GOÏTA Secondary
Head of department financial resources mobilization
Cite Administrative – Batiment No. 7 – BP: 1634, Bamako, Mali
Phone +223 71768531/66883648
amidougoita@gmail.com
Namibia
Ministry of Environment and Tourism
Mr. Paulus Ashili Primary
Mr. Timoteus Mufeti Primary
Mr Petrus Muteyauli Primary
Deputy Director, Multilateral Environmental Agreements, Department of Environmental Affairs
Ministry of Environment and Tourism, Private Bag 13306, Windhoek, Namibia, Windhoek, Namibia
Uzbekistan
Ministry of Ecology, Environment Protection and Climate Change
Mr. Aziz Abdukhakimov Primary
Minister
Chilanzar district, Bunyodkor ave., 7-A, Tashkent, Uzbekistan
Phone +998-71-207-07-70
abdukhakimov@eco.gov.uz
info@uznature.uz
Ms. Suna Park Secondary
Advisor to the Minister
Chilanzar district, Bunyodkor ave., 7-A, Tashkent, Uzbekistan
Phone +998-71-207-07-70
s.park@eco.gov.uz
Mr. Jakhongir Talipov Operational focal point
Head of International Cooperation and Grants Department
Chilanzar district, Bunyodkor ave., 7-A, Tashkent, Uzbekistan
Phone +998-71-207-07-70
jakhongirtalipov@gmail.com