1. A soft credit line of EUR 60 million to the major Mauritian banks, and their affiliates in neighbouring countries, to engage local banks in financing optimisation in the use of natural resources and energy and the promotion of renewable energy by the private sector.
2. Technical and financial assistance to help project developers to identify and unfold sustainable energy projects.The project will improve the competitiveness of the local enterprises and reduce the Government’s budgetary burden. In addition, it will reduce negative health impacts on the population thanks to the reduction of pollution. Expected impacts include 25 MW of RE installed and 50 GWh saved each year.
The EU-AITF will be providing a Technical Assistance Grant from the SE4ALL envelope (EUR 1.7 million) organised around five main components to improve the local financial intermediaries’ skills and appetite for such RE and EE projects:
As at June 2017, 49 subloans, representing more than EUR 136.5 m of investment, have been selected and a loan amount of EUR 56 m has been granted by AFD to the local banks (banks have disbursed partially to project owners). There are 28 sub-loans for RE activities (solar, biomass and biofuel), 18 in EE (commercial buildings, industry) and 13 in clean production sectors. 2 projects are located in Madagascar (Energy efficiency and biomass), while the others are located in Mauritius and Rodrigues. About half of these projects are very small projects (less than EUR 50,000) and the average amount per project is around 1,000,000 EUR. Thanks to these projects: 17 700 MWh of energy will be saved per year and 9.2 MW of RE capacity was added. Moreover, emissions of 120 910 tonnes of CO2 will be avoided 299 000 m3 of water will be saved, 72,000 tonnes of waste will be avoided and 57,000 tonnes of chemical fertilizers will be also avoided.
Link to SUNREF website and communication material: https://www.sunref.org/ocean-indien/ressource/