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Technical Assistance for the GEFIOR project

Region
Southern Africa
Sector
Energy
Scope
TA
Grant Amount
EUR 1,700,000
Total project cost
EUR 71,900,000
Status
Under disbursement
PFG Lead Financier
AFD

The project has two components:

1. A soft credit line of EUR 60 million to the major Mauritian banks, and their affiliates in neighbouring countries, to engage local banks in financing optimisation in the use of natural resources and energy and the promotion of renewable energy by the private sector.

2. Technical and financial assistance to help project developers to identify and unfold sustainable energy projects.

The project will improve the competitiveness of the local enterprises and reduce the Government’s budgetary burden. In addition, it will reduce negative health impacts on the population thanks to the reduction of pollution. Expected impacts include 25 MW of RE installed and 50 GWh saved each year.

The project will improve the competitiveness of the local enterprises and reduce the Government’s budgetary burden. In addition, it will reduce negative health impacts on the population thanks to the reduction of pollution. Expected impacts include 25 MW of RE installed and 50 GWh saved each year.

The EU-AITF will be providing a Technical Assistance Grant from the SE4ALL envelope (EUR 1.7 million) organised around five main components to improve the local financial intermediaries’ skills and appetite for such RE and EE projects:

1. Support to sub-projects’ origination, preparation and implementation.

2. Capacity building and transfer of knowledge. 

3. Awareness raising and dissemination of best practices at regional level. 

4. Monitoring and evaluation of the programme. 

5. Financial assistance to energy audit studies.

As at December 2016, forty six subloans, representing more than EUR 131 m of investment (see table below) have been selected and a loan amount of EUR 53 m has been granted by AFD to the local banks (banks have disbursed partially to project owners). There are 27 sub-loans for RE activities (solar, biomass and biofuel), 19 in EE (commercial buildings, industry) and 10 in clean production sectors. Three projects are located in Madagascar (biofuel and biomass), while the others are located in Mauritius. About half of these projects are very small projects (less than EUR 50,000). Thanks to these projects, 18 500 MWh of energy will be saved and 7.9 MW of RE capacity was added. Moreover, emissions of 11,6371 tonnes of CO2 will be avoided,

220,000 m3 of water will be saved, 72,000 tonnes of waste will be avoided and 57,000 tonnes of chemical fertilizers will be also avoided. 

Link to SUNREF website and communication material: https://www.sunref.org/ocean-indien/ressource/

12/2016