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    Reference: 20210485
    Release date: 3 September 2021

    Promoter – Financial Intermediary




    Debt fund to finance companies and assets that contribute to improved access to electricity using solar photovoltaic (PV) in sub-Saharan Africa.


    The fund will provide loans to finance solar PV distributed generation projects in Central and West Africa with a primary focus on Nigeria, Côte d'Ivoire, Senegal, Ghana, Mali, Cameroon. The fund will be primarily targeting the countries where grid is unreliable and electricity prices are high. The fund will offer capital in the form of project finance and asset-based debt facilities. The fund aims to build a diversified portfolio of 20-30 investments with an average ticket size of USD 4 million.


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

    Proposed EIB finance (Approximate amount)

    EUR 25 million

    Total cost (Approximate amount)

    EUR 100 million

    Environmental aspects

    The Bank will require that the fund manager ensures that all investments are compliant with EIB social and environmental standards and guidelines. The capacity of the fund manager to assess and monitor environmental and social impact and risks of the individual investments to the satisfaction of the Bank will be further assessed during appraisal.


    The Bank will require the fund to ensure that all EIB-eligible investments are implemented in accordance with the Bank's Guide to Procurement.


    Under appraisal - 4/08/2021


    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 - Central Africa Regional - West Africa Energy