Skip to navigation

Skip to content

ITF Home page

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 proposed project has two components:

  1. A soft credit line of EUR 60m to the major Mauritian banks, including their affiliates in the neighbouring countries, aiming to engage local banks in the financing of energy efficiency (EE) and  renewable energy (RE) projects in the private sector.
  2. Technical and financial assistance (i) to support project developers in the identification and development of sustainable energy projects, and partner banks to improve their appetite in and skills to appraise and finance projects; and (ii) to bear partially the cost of detailed energy audits.

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 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.

12/2017 

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