Off Grid Energy Access Fund

By providing emergency capital to off grid energy companies the covid 19 energy access relief fund aims to protect the progress already made towards achieving sustainable development goal 7.

Off grid energy access fund.

The final close reached on 18 november 2019 was made possible through a 15 million equity contribution from the european union eu. Facility for energy inclusion off grid energy access fund fei ogef ndf c103 21 12 2017 the overall objectives are to scale up access to affordable clean energy for off grid households in ssa and facilitate a long term sustainable financing environment for off grid energy access with particular focus on mobilizing local currency financing. The off grid market potential is massive and on track to transform electricity access in africa as we know it said harry guinness fund manager of ogef. To accelerate the pace of off grid renewable energy deployment many different pre conditions must be met.

Ogef offers a flexible pragmatic and context driven approach to transaction structuring provides local currency options to. By stabilizing economies in emerging markets and providing security for up to 370 000 jobs the fund will also ensure that the sector can continue to grow. Fei ogef had its first close in november 2018 with committed capital of 58 million and has since closed a number of deals in the energy access space. Off grid energy access fund.

The facility for energy inclusion s off grid energy access fund fei ogef has reached a final equity close with 59 million in committed equity capital and 36 million debt facilities to support innovative off grid energy access companies. Decades of national and international efforts have yielded impressive gains in access to modern energy. Afdb the off grid energy access fund s anchor sponsor with a 30 million 2 12 billion contribution and 8 5 million 601 6 million from the global environment facility gef said that the fund expects to raise further debt towards its 130 million 9 2 billion target over the next 12 18 months. Off grid energy access fund preparation facility ndf c102 12 01 2017 this project aims at preparing and establishing the off grid energy access fund an afdb led flagship financing initiative for scaling up access to clean energy for off grid households and communities throughout sub saharan africa.

Yet estimates suggest that under a business as usual scenario around 600 million people will still not have access to electricity by 2040. The facility for energy inclusion s off grid energy access fund ogef has been structured by lion s head in partnership with the african development bank and nordic development fund.