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Engaging Banks in Financing Energy Transition Projects in East Africa

Region
Eastern Africa
Sector
Energy
Scope
TA
Grant Amount
EUR 2,000,000
Status
Fully disbursed
PFG Lead Financier
AFD

The project’s objective is to bring additional solutions to achieve the diversification of energy resources in the East African region and help the region’s transition towards renewable energy solutions that are technically, economically and financially viable. The target investments are mainly projects of a maximum amount of EUR 10m in hydroelectricity, biomass, biogas, solar and wind power. Other types of projects eligible to the AFD financing are energy efficiency projects, mainly in the Agribusiness sector. These solutions, both energy efficiency and renewable energy projects, will also contribute to the improvement of the investors’ sustainability, through a more secure power supply and a lower energy bill, thereby boosting the regional dynamic towards “green energy”.

The first EU-AITF technical assistance grant is completed. This support has helped to (i) assist the sponsors in carrying out feasibility studies and preparing project presentations to banks; (ii) assist the banks in assessing the projects, to build up their financial and technical expertise through the appraisal of the projects; (iii) contribute to the monitoring of the first stages of the projects' implementation (during the construction phase and the first stage of the projects' operating phases), etc.