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Signature(s)

Amount
€ 5,000,000
Sector(s)
Energy : € 5,000,000
Signature date(s)
20/12/2019 : € 2,000,000
20/12/2019 : € 3,000,000

Summary sheet

Release date
12 March 2019
Status
Reference
Signed | 20/12/2019
20190011
Project name
Promoter - financial intermediary
RESPONSABILITY ACCESS TO CLEAN POWER FUND LCFP
RESPONSABILITY INVESTMENTS AG,MULTICONCEPT FUND MANAGEMENT SA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 5 million
EUR 130 million
Location
Sector(s)
  • Energy - Electricity, gas, steam and air conditioning supply
Description
Objectives

Investment fund providing debt financing to energy access companies that provide distributed generation solutions (primarily based on solar energy) to households and SMEs mainly Africa and Asia. Operation to be under the Luxembourg-EIB Climate Finance Platform.

The financing offered by the Fund will include working capital to finance inventory and/or receivables of energy access companies, as well as project debt to finance larger distributed generation projects for SMEs. Investments will be primarily in US Dollars, and on a selective basis in local currencies. The targeted geographical allocation of the Fund is 60% in Sub-Saharan Africa and 40% in South-Southeast Asia. The Fund will address a financing gap in the off-grid solar market, where the growth of off-grid solar energy providers is hampered by the lack of financing available from commercial banks due to the illiquidity of assets to be utilised as security by lenders.

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 Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.

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).

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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.

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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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