The new Electrification Financing Initiative (ElectriFI) aims to accelerate access to (rural) energy in developing countries by boosting private sector to yield business opportunities. Past efforts supporting rural electrification were predominantly grant-based and therefore not generating a leverage that would allow reaching the ambitious policy objectives, whilst the sustainability of projects was not optimal.
The Energy and Environment Partnership Trust Fund (EEP Africa) is a clean energy financing facility hosted and managed by the Nordic Development Fund (NDF) with funding from Austria, Finland and NDF. It is guided by a vision for a climate-resilient, zero-carbon future with the aim of contributing to the achievement of the Paris Agreement on climate change and Sustainable Development Goals (SDGs).
Climate change is one of the greatest challenges of our time. Dramatic changes in climate conditions and weather extremes are already affecting millions of people around the world, damaging crops and coastlines and putting food, water and energy security at risk. Climate change threatens to reverse progress towards sustainable development.
By 2050, the urban population in Africa is expected to grow from 400 million to 1.26 billion people. African cities need to respond to these challenges in order to provide a sustainable future for their citizens and keep greenhouse gas emissions low. Therefore, ensuring access to affordable, reliable, sustainable and modern energy and adapting to the effects of climate change are among the most pressing issues for the African population.
The Private Financing Advisory Network is a global network of climate and clean energy financing experts, which offers free business coaching and investment facilitation to entrepreneurs developing climate and clean energy projects in emerging markets.
Climate Investor One (CIO) is a blended finance facility. The first component of this programme is a development fund, which provides loans in the early stage of a project life cycle. The second component, a construction equity fund, will meet up to 75 percent of total construction costs in tandem with the project sponsor. Compared with conventional project financing, CIO removes the need for complex multi-party financing structures, with the potential to thereby reduce the time and cost associated with delivering renewable energy projects.
The Clean Energy for Development aims to increase access to renewable energy in developing countries. The initiative has provided lasting results for millions of people since it was started in 2007.
Both the Sustainable Development Goals and climate agreement in Paris states that the global community must continue to supporting sustainable energy development.
Renewable energy enables economic growth and protects the environment. Sustainable, affordable and reliable energy supplies are also prerequisites for abolishing extreme poverty.
The Carbon Initiative for Development (Ci-Dev) is a World Bank trust fund that mobilizes private finance for clean energy access in low-income countries. It delivers results-based finance to innovative and transformative business models driven by the private sector. Through 2025, Ci-Dev will have mobilized more than $250 million in private finance to provide low-carbon energy to more than 10 million people in the communities most vulnerable to climate change.
In 2015, the United Nations member states defined the seventh Sustainable Development Goal as: “Ensure access to affordable, reliable, sustainable and modern energy for all”. Subsequently, the Government of Mozambique, the British Government and various international partners signed the Energy Africa Mozambique Compact.