📋 Tender Overview
Project duration
01.01.2016 - 01.01.2032
Project locations
Zambia
Nigeria
Côte d’Ivoire
Benin
Kenya
Burundi
Eswatini
Uganda
Overall budget
€254 000 000
EU contribution
€236 300 000
93% of the overall budget
ElectriFI is an EU-funded impact investment facility that finances early-stage and small-sized projects focusing on electricity access and generation from sustainable energy sources in emerging markets. It has a global scope, with a particular focus on sub-Saharan Africa.
The facility is managed by FMO and the EDFI Management Company on behalf of the 15 European Development Finance Institutions (DFIs).
Accelerating clean energy access in developing countries
ElectriFI aims to accelerate the development of businesses providing access to clean energy to hundreds of millions of people by 2030. ElectriFI’s unique business model relies on EU funding so that it can invest in local markets in less developed economies and fragile situations. By combining technical assistance and risk capital, ElectriFI can take greater risks than other investors. This initiative decreases investment risk and allows private investors and development finance institutions to deploy capital that they would not have invested otherwise.
The total size of the facility is €254 million earmarked as follows:
ElectriFI Global (€ 126 million) - launched in 2016 and including contributions from Power Africa (targeted at sub-Saharan Africa) Italy and Sweden.
ElectriFI Country Windows – offering dedicated funding for selected countries. Country Windows are established in close collaboration with EU delegations and with the support of national governments. The first set of Country Windows (launched in 2018) was allocated to Zambia (€ 31 million), Nigeria (€30 million), Côte d’Ivoire (€10 million), Benin (€ 5 million) and Pacific (€ 8 million). The second set of Country Windows (contracted at the end of 2020) will deploy specific funding for Kenya (€ 24.7 million), Burundi (€ 9.3 million), Eswatini (€ 5 million) and Uganda (€ 5 million).
An impact-first and catalytic blending instrument
Typical business models financed by ElectriFI include minigrids, solar home systems, independent power projects (IPP) and captive power production.
ElectriFI clients have to comply with pre-defined impact targets, high standards of business integrity, and are expected to reach profitability within 3 years following ElectriFI investment.
ElectriFI makes investments additional to those from other investors. These investments rely on a strategic and entrepreneurial approach to attracting additional financing for promising early-stage businesses. They comply with EU development finance objectives by reducing their exposure to risk and allowing them to grow and access traditional finance.
All investments are assessed through strict additionality criteria and leverage ratios.
