The European Fund for Sustainable Development (EFSD) combines a Guarantee Fund (of up to 1.5 billion EUR) with two regional investment platforms – the Investment Platform for Africa and the Neighbourhood Investment Platform.
Under the Investment windows of the Guarantee Fund, the pillar-assessed (accredited) entities can submit Proposed Investment Programs (PIP), which are the framework for specific projects to be defined and supported.
The two Spanish pillar-assessed entities (AECID and COFIDES) have jointly presented the Renewable Energy Program for Sub-Saharan Africa, mainly in rural areas which is the focus of this Request for Proposals (RfP).
The RfP intends to identify projects that are in line with the following characteristics:
– Mini/off-grid renewable power Generation proposals
– In underserved areas (rural and/or periurban).
– Special consideration to productive uses of energy.
A maximum of 28 EUR million will be available to provide subordinated debt to the projects. The resources for financing specific projects under the PIP will be made available through FONPRODE (Development Fund managed by AECID), with the backing of the EFSD guarantee. Final commitment will be subject to a positive due diligence process and the approval of the FONPRODE governing bodies and the confirmation of the EFSD Guarantees for this initiative.
Given the origin of the resources being mobilised (the European Union and the Spanish administration) and their internal process of approval, formalisation and disbursement, it is important to bear in mind that the availability of the funding resources is to be foreseen for early 2021.
COFIDES invites private entities (i.e. companies, consultants, commercial banks, fund managers…) to submit proposals in the framework of the Renewable Energy Support Programme for Sub-Saharan Africa, mainly in rural areas, focusing on off-grid solutions, in order to improve energy access in underserved rural and/or peri-urban areas and enhancing productive uses of energy.
There is no limit to the number of Concept Notes that a single private institution or entity may submit.
Email address for proposals | email@example.com