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    Reference: 20190011
    Release date: 12 March 2019

    Promoter – Financial Intermediary

    RESPONSABILITY INVESTMENTS AG,MULTICONCEPT FUND MANAGEMENT SA

    Location

    Description

    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.

    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 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.

    Sector(s)

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

    Proposed EIB finance (Approximate amount)

    EUR 5 million

    Total cost (Approximate amount)

    EUR 130 million

    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

    Signed - 20/12/2019

    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