New fund seeks to catalyse local investment for off-grid expansion


In depth
Issue 361 - 18 Jan 2018 | 8 minute read

The African Development Bank (AfDB) has approved a $30m investment in the Facility for Energy Inclusion Off-Grid Energy Access Fund (FEI Ogef), which will provide debt finance for the off-grid power sector. Investments have also been approved by Calvert Impact Capital (CIC, $10m), the Global Environment Facility (GEF) and €6m ($7m) from the Nordic Development Fund (NDF), which also agreed a €0.5m grant for technical assistance. FEI Ogef comes as rapidly expanding off-grid solar companies are looking at options for raising larger tranches of debt funding.

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