Reference: 20180476
Release date: 4 September 2018

Promoter – Financial Intermediary

RESPONSABILITY INVESTMENTS AG

Location

Description

The project consists in of an investment fund providing debt and mezzanine financing to energy access companies that provide distributed generation solutions (primarily based on solar energy) to households and small and medium-sized enterprises (SMEs) mainly Africa and Asia.

Objectives

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 USD, and on a selective basis in local currencies. The targeted geographical allocation of the Fund is 60% Sub-Saharan Africa and 40% 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.

Sector(s)

  • Energy - Electricity, gas, steam and air conditioning supply

Proposed EIB finance (Approximate amount)

Not disclosed.

Total cost (Approximate amount)

Not disclosed.

Environmental aspects

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

Procurement

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.

Status

Under appraisal - 6/08/2018

Disclaimer

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

Related tags

Regional - Africa Regional - Asia Energy