E+Co Sub-Saharan Modern Energy Fund

Purpose

To realise an investment fund to invest USD 12 million in 76 clean energy SMEs in Ghana, Mali and Senegal. The Fund will replicate and scale up E+Co's existing activities in an efficient manner. During implementation the regional scope was widened to Sub-Saharan Africa.

Main Activities

Indicative numbers at Fund-size of $12 million:

  • people provided with access to energy = 3,191,489
  • tons of CO2 offset (annually) 2,112,676
  • third party capital mobilized $ 120,000,000

Expected Impact

  • Invest USD 12 million in 76 clean energy SMEs in Ghana, Mali and Senegal;
  • Provide access to clean energy to mainly unserved people;
  • Socio-economic and environmental benefits of replacing fuelwood, kerosene and charcoal with modern cooking fuels;
  • Catalyse a sustainable financing value chain for clean energy SMEs in the region;
  • Include neighbouring African countries in scope of fund, once successful after about two years;
  • Replicate this first-time fund to other E+Co regions especially, Mekong and South-America;
  • Share lessons learned with the wider network of REEEP and other stakeholders.
Programme sector: 

RE & EE (Business&Finance)

Stage of project: 

Completed

Location: 

ML/Mali, SN/Senegal, ET/Ethiopia, GH/Ghana, TZ/Tanzania, UG/Uganda

Duration: 

2007 - 2009

Budget: 

€ 300,000 including co-funding from GEEREF, E+Co

Implementing agency: 

E+Co

REEEP grant funded by:

Norway