The proposed project has two components:
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:
As at December 2017, 51 subloans, representing more than EUR 137.2 m of investment, have been selected and a loan amount of EUR 56 m has been granted by AFD to the local banks (banks have disbursed partially to project owners). There are 28 sub-loans for RE activities (solar, biomass and biofuel), 18 in EE (commercial buildings, industry) and 13 in clean production sectors. 2 projects are located in Madagascar (Energy efficiency and biomass), while the others are located in Mauritius and Rodrigues. About half of these projects are very small projects (less than EUR 50,000) and the average amount per project is around EUR 1,000,000. Thanks to these projects: 29 661 MWh of energy will be saved per year and 9.12 MW of RE capacity was added. Moreover, emissions of 93 040 tonnes of CO2 will be avoided per year, 299 000 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.
A verification mission took place in June 2017, to verify the proper implementation of the project and check the ex-post impact.
Link to SUNREF website and communication material: https://www.sunref.org/ocean-indien/ressource/