Deadline: 25-Jun-2020
AECID and COFIDES, the two Spanish pillar-assessed entities have jointly presented the Renewable Energy Program for Sub-Saharan Africa to improve energy access in underserved rural and/or peri-urban areas, therefore enhancing productive uses of energy.
Objectives
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.
Funding Information
A maximum of 28 EUR million will be available to provide subordinated debt to the projects.
Duration
The implementation period of a project may not exceed 24 months. The operation period of the project should have a lifespan beyond the duration of the financing provided by Spain.
Geographical Focus
Sub-Saharan Africa
Who can apply?
- 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.
Eligibility criteria for Project
- Project type: development of small-scale electricity generation solutions based on renewable energies that distribute electricity to a limited number of customers (either households, industries, or both) through a distribution network that can operate in isolation from the national transmission networks. The project should contribute to improve the supply of electricity in rural or peri-urban areas with significant benefits to people without access to reliable sources of energy.
- Geographical focus: Sub-Saharan Africa
- Target project size: between EUR 5 million and EUR 40 million.
- Jurisdiction: Projects in adapted regulatory frameworks or that promote the establishment and operation of these systems will be favoured. Specific purpose companies located in tax havens according to Spanish legislation cannot be financed.
- Social and Environmental Requirements: The project to be financed must comply with the guidelines on social and environmental matters contained in FONPRODE’s Code of Responsible Financing (CFR), which seeks to meet internationally recognized standards issued by the United Nations, the International Finance Corporation of the World Bank Group and the OECD. No project that affects or may affect the environment or people is eligible for funding. All funded activities will be carried out in accordance with local environmental and social laws and regulations and the IFC Performance Standards. In addition, in the context of the recently launched EU Taxonomy, investment assessments will pay particular attention to these new guidelines as an additional European reference. In the case of projects requiring an exhaustive environmental and social impact assessment, it will be provided as an annex of the concept note.
- Technological neutrality: those technological solutions already tested will be eligible.
- Duration: The implementation period of a project may not exceed 24 months. The operation period of the project should have a lifespan beyond the duration of the financing provided by Spain.
For more information, visit https://cofides.es/en/rfp-renewable-energy-program-sub-saharan-africa