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Signature(s)

Amount
€ 10,000,000
Sector(s)
Services : € 10,000,000
Signature date(s)
20/02/2015 : € 10,000,000
Link to source

Summary sheet

Release date
8 December 2014
Status
Reference
Signed | 20/02/2015
20140458
Project name
Promoter - financial intermediary
ENERGY ACCESS FUND
SPECIAL PURPOSE ENTITY(IES)/FUND
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 10 million
EUR 55 million
Location
Sector(s)
Description
Objectives

The proposed operation concerns participation in the Energy Access Ventures Fund, a private equity fund that will focus on financing SMEs active in the generation and/or distribution of electricity in sub-Saharan Africa. The fund will focus on off-grid rural electrification, and will start investing in companies with operations in East Africa before expanding to other sub-Saharan African countries. The majority of the investments will be in off-grid solar technology, in particular solar home systems, micro-grid infrastructure, and other small/micro-scale renewable energy and hybrid technologies.The fund has a target size of EUR 55 million and aims to provide access to electricity to at least one million low-income beneficiaries.

The fund aims to provide access to electricity to at least one million direct low-income beneficiaries, located in rural and peri-urban areas of Sub-Saharan Africa and who lack (reliable) access to electricity. Direct beneficiaries are defined as clients, consumers of goods and services and direct employees of portfolio companies. Moreover most of the electricity produced will come from renewable energy sources thereby generating minimum negative environmental impact.

Environmental aspects
Procurement

The fund's operational guidelines will provide for environmental and social due diligence of all projects, according to guidelines acceptable to the EIB.

The fund will be required to ensure that implementation of the underlying projects is done in accordance with the EIB Guide to Procurement.

Link to source
Summary sheet
Other links

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - ENERGY ACCESS FUND
Publication Date
19 Mar 2015
Document language
Main Topic
Lending
Document Number
57983891
Document Focus
Environmental Information
Project Number
20140458
Sector(s)
Countries
Publicly available
Download now
Environmental and Social Completion Sheet (ESCS) - ENERGY ACCESS FUND
Publication Date
15 Dec 2022
Document language
Main Topic
Lending
Document Number
159023580
Document Focus
Environmental Information
Project Number
20140458
Sector(s)
Countries
Publicly available
Download now
Other links
Summary sheet

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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