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  • ANALYSIS OF

    RENEWABLE ENERGY

    PROJECT PREPARATION

    FACILITIES IN SUB-

    SAHARAN AFRICA

    Intended for

    SIDA

    Document type

    Report

    Date

    December 2015

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    CONTENTS

    1. ABBREVIATIONS 3 2. INTRODUCTION 5 2.1 Sida and Power Africa 5 2.2 Project scope 5 3. BACKGROUND 7 3.1 The financing gap 7 3.2 Project preparation 7 4. PROJECT PREPARATION FACILITIES 9 4.1 Roles and stakeholders 9 4.2 Types of financing 10 4.3 Categorisation of PPFs 11 4.4 PPF database 11 4.5 Overview of PPF extracts from database 12 4.6 Other PPF databases 13 5. GAP ANALYSIS 14 5.1 Geographical coverage 14 5.2 Size of investments 15 6. SITUATION ANALYSIS 16 6.1 Best practices according to interviewed PPFs 16 6.2 Constraints and hurdles 16 6.3 On-going improvements and requested support from Sida 17 7. CRITICAL SUCCESS FACTORS FOR PPFS 19 8. RECOMMENDATIONS TO SIDA 21

    APPENDIX I GEOGRAPHICAL COVERAGE OF PPF SUPPORTED

    PROJECTS 23

    APPENDIX II SUMMARY OF PROJECT PREPARATION FACILITIES

    DATABASE 30

    TABLE OF FIGURES AND TABLES

    Figure 1. The project development cycle .................................................... 7 Figure 2. Illustration of financing flow to project owners ............................... 9 Figure 3. Project preparation financing framework, ICA (2014) ................... 10 Figure 4. Categorisation of identified PPFs ................................................ 11 Figure 6. Visualisation of PPF coverage .................................................... 15 Figure 7. Overview of critical success factors ............................................ 19

    Table 1. Headings in PPF database ............................................................ 5 Table 2. Size of PPF investment and funding ............................................. 15 Table 3. Overview of Ramboll's recommendations to Sida .......................... 21

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    1. ABBREVIATIONS

    Abbreviation Explanation

    ICA The Infrastructure Consortium for Africa

    DFI Development Finance Institution

    MDB Multilateral Development Bank

    PPF Project Preparation Facility

    RECs Regional Economic Communities

    Sida The Swedish International Development Cooperation Agency

    USAID United States Agency for International Development

    PPFs

    ACEF Africa Clean Energy Finance initiative

    ACF Access Co-Development Fund

    ACP-EC EF II African, Caribbean and Pacific - European Commission Energy Facility II

    AECF REACT Africa Enterprise Challenge Fund

    AFD DBSA PPFS Agence Franaise de Dveloppement Development Bank of Southern Africa Project Preparation and Feasibility Study

    AREF Africa Renewable Energy Fund

    CDFF Climate Development and Finance Facility

    CDKN Climate & Development Knowledge Network

    CIC Kenya Climate Innovation Centre

    CIF-CTF The Climate Investment Funds Clean Technology Fund

    Clean Start Programme The United Nations Capital Development Fund (UNCDF) Clean Start Programme

    CTI-PFAN Climate Technology Initiative-Private Financing Advisory Network

    DBSA EIB PDSF Development Bank of Southern Africa European Investment Bank Project Development and Support Facility

    DBSADF Development Bank of Southern Africa Development Fund

    DEG the German Development Finance Institutions

    DemoMilj III DemoMilj

    DevCo Infrastructure Development Collaboration Partnership Fund

    DI Frontier Investment The Confederation of Danish Industry Frontier Investment

    EAIF Emerging Africa Infrastructure Fund

    EAV Energy Access Ventures

    EEDF EU-EDFI Private Sector Development Facility

    EEP Energy and Environment Partnership South & East Africa

    ElectriFI Electrification Finance Initiative

    ESMAP The Energy Sector Management Assistance Program

    EU-AITF EU-Africa Infrastructure Trust Fund

    Evolution One Fund Evolution One Fund

    Finance and Competence Finance and Competence

    FIRST Facility for Investment in Renewable Small Transactions

    GAP Green Africa Power

    GCPF Global Climate Partnership Fund

    GEEF Green Energy Efficiency Fund

    GEEREF Global Energy Efficiency and Renewable Energy Fund

    GEF Global Environment Facility

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    Get FiT Global Energy Transfer Feed-in Tariffs for developing countries

    GIF Global Innovation Fund

    GPOBA Global Partnership on Output-Based Aid

    GVEP Global Village Energy Partnership

    ICF-DP Infrastructure Crisis Facility Debt Pool

    IFC InfraVentures the IFC Global Infrastructure Project Development Fund

    IISS International Infrastructure Support System

    IRENA/ADFD International Renewable Energy Agency/Abu Dhabi Fund for Development Project Facility

    KAM RTAP Phase II-SUNREF Regional Technical Assistance Programme

    LFI The United Nations Capital Development Fund (UNCDF) Local Finance Initiative

    LMSC Lereko Metier Sustainable Capital fund

    NEPAD IPPF The New Partnership for Africa's Development Infrastructure Project Preparation Facility

    OFID Energy Poverty Program The OPEC Fund for International Development Energy Poverty Program

    PAIDF Pan African Infrastructure Development Fund

    PEP Persistent Energy Partners

    PIDG TAF Private Infrastructure Development Group Technical Assistance Facility

    PPIAF Public Private Infrastructure Advisory Facility

    Progeny Development Finance Progeny Development Finance

    RECP Renewable Energy Cooperation Programme

    REEEP The Renewable Energy and Energy Efficiency Partnership

    REF Rural Energy Fund

    REPP Renewable Energy Performance Platform

    SADC PPDF Southern Africa Development Community Project Preparation and Development Facility

    SCAF Seed Capital Assistance Facility

    SEFA Sustainable Energy Fund for Africa

    SREP Climate Investment Fund (CIF) Scaling Up Renewable Energy in Low Income Countries Program

    USADF The United States African Development Foundation

    USTDA United States Trade and Development Agency

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    2. INTRODUCTION

    2.1 Sida and Power Africa

    The Swedish International Development Cooperation Agency (Sida) is a Swedish government

    agency working on behalf of the Swedish parliament and government, with the mission to reduce

    poverty in the world through development assistance. Sida works to implement the Swedish

    development policy that will enable poor people to improve their lives and to distribute

    humanitarian aid to people in need of assistance. Sida carries out enhanced development

    cooperation with a total of 33 countries in Africa, Asia, Europe and Latin America.

    The need for projects in the Energy sector in the sub-Saharan region is massive and is the basis

    for the Power Africa initiative. Power Africa was initiated by the U.S. president Barack Obama and

    the United States Agency for International Development (USAID) in 2013. The long-term goal of

    Power Africa is to reduce poverty in Africa by increasing the electrification, more specifically by

    doubling the electricity access rate. Sweden is participating since 2014 and has made a

    commitment to catalyse and mobilise one billion USD over ten years towards energy sector

    development in sub-Saharan Africa. The focus for the Swedish operations is renewable energy.

    Other organisations such as the World Bank and the African Development Bank are also part of

    the Power Africa initiative. Apart from contributing with funding, the partners of the initiative

    work to engage others, such as private investors and stakeholders from the industry.

    2.2 Project scope

    Ramboll has, on behalf of Sida, conducted a mapping of Project Preparation Facilities (PPFs) in

    the sub-Saharan region supporting projects within renewable energy and energy efficiency. The

    mapping has resulted in a database and this report. The database consists of the identified PPFs

    with information such as supported types of projects, countries, funding bracket and contact

    information. The purpose of the database is to enable an easily accessible overview of the project

    preparation support available on the market today. The headings in the database are presented

    in Table 1 below.

    The project has been carried out through a literature review and 15 interviews with stakeholders

    active in the area of project preparation.

    Table 1. Headings in PPF database

    Heading Explanation

    Abbreviation The PPFs short name

    Title The full name of the PPF

    PPF structure PPFs are categorised as either a program, fund or other

    organisation depending on its structure

    Support

    The type of support the PPF provides. This can vary

    between Financial support (F), Competence or advisory

    support (C) or both Competence and Finance support

    (C&F)

    Year established The year the PPF was founded

    Host organisation The organisation that hosts the PPF. Not applicable to all

    PPFs

    Contributors / donors / funders The actors that provides monetary support to the PPF

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    Total Capital USD The total value of the funding available at the PPF

    Funding bracket min USD The minimum amount of funding that the PPF will provide

    Funding bracket max USD The maximum amount of funding that the PPF will

    provide

    Type of finance provided The type of financial support provided. Can range from

    grants, guarantees, equity and various forms of debt

    Supported energy types The type of energy projects and solutions the PPF

    supports. RES = Renewable Energy Sources

    PPF Description A description of the PPF in terms of support provided, its

    objectives and purpose

    Requirements for support A description of the requirements for the potential

    projects supported by the PPF

    Target countries The countries within sub-Saharan Africa that the PPFs

    cover in terms of providing support

    Actual countries The countries at which the PPF have stated finished or

    ongoing projects

    E-mail Contact details to the PPF

    Phone Contact details to the PPF

    PPF URL Address to the PPFs web-page

    Responsible person Contact details to the PPF

    Other contact information Contact details to the PPF

    Ramboll's source of information The source from which the PPF was found

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    3. BACKGROUND

    3.1 The financing gap

    Infrastructure and access to electricity is widely recognized as a key enabler in developing

    countries1. In sub-Saharan Africa almost 600 million people lack access to electricity and only

    seven countries have electricity access rates above 50 %2. Several studies have shown that the

    GDP is connected to the electrification rates and that an increase in the electricity supply and

    infrastructure would boost the countries GDPs3. Furthermore, it is commonly acknowledged that

    renewable power generation and energy efficiency technologies must play a central role in any

    sustainable development when increasing electrification access rates in the sub-Saharan region.

    It is widely recognized that one of the main constraints for infrastructure development in Africa is

    well-packaged, bankable projects4. Project preparation, the process of taking a project from

    conceptualisation to implementation, is a costly and high risk phase in developing infrastructure.

    The New Partnership for Africa's Development Infrastructure Project Preparation Facility (NEPAD-

    IPPF) has recently estimated the cost for the activities conducted during project preparation to be

    up to 10-12 % of the total project cost for large regional projects in Africa. Based on this, The

    Infrastructure Consortium for Africa (ICA) has estimated the financing gap to be USD 24.9 billion

    only for the four major African Regional Economic Communities (RECs).5

    It is not only the lack of financial resources that constitutes a hurdle for developing bankable

    projects; there is also a lack of technical capacity for undertaking project preparation.

    3.2 Project preparation

    The project development cycle is commonly divided into different phases. Both ICA6 and Public

    Private Infrastructure Advisory Facility (PPIAF)7 divide the process into six main phases, from

    enabling an environment with the right prerequisites for project development to monitoring of

    outcomes while implementing the project, see Figure 1 below.

    Figure 1. The project development cycle, phase 2-5 defining project preparation

    1 UNDP/Sustainable Development Goal 7: Affordable and clean energy.

    http://www.undp.org/content/undp/en/home/mdgoverview/post-2015-development-agenda/goal-7.html 2 McKinsey & Company (2015) Brighter Africa, the growth potential if the sub-Saharan electricity sector 3 McKinsey & Company (2015) Brighter Africa, the growth potential if the sub-Saharan electricity sector 4 ICA (2014) Effective Project Preparation for Africas Infrastructure Development, Interviews 5 ICA (2014) Effective Project Preparation for Africas Infrastructure Development 6 ICA (2014) Effective Project Preparation for Africas Infrastructure Development 7 PPIAF (2007) The African Project Preparation Gap

    Project preparation

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    Project preparation, unlike project development, is commonly defined as phase 2. Project

    Definition to phase 5. Transaction Support, and it is in the project preparation phases that

    projects can seek both financial and technical support from project preparation facilities. The

    purpose of such support is to make the project bankable and by extension succeeding in realising

    it. The definition of project preparation is supported by the conducted interviews with

    stakeholders. Most of the interviewees explain project preparation to be all stages prior to the

    project reaching financial close where financial close can be defined as The stage where they

    can attract domestic and international finance.8

    8 http://www.pidg.org/what-we-do/companies/infraco-africa

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    4. PROJECT PREPARATION FACILITIES

    4.1 Roles and stakeholders

    A key role of PPFs is to bridge resource gaps for project preparation in terms of both financing

    and competence. The PPFs normally operate mainly in the mid- to late phases of project

    preparation. As described by one of the interviewees:

    There is a strong need for PPFs as there is a lot capital looking for a good investment

    opportunity yet there is a gap in terms of demand for that capital. PPFs work to bridge that gap

    by preparing projects to be an attractive investment and connecting projects with investors.

    In the project preparation process there is a large number of stakeholders involved, ranging from

    national governments to single project owners. What defines and constitutes a PPF can be

    discussed and it should be noted that not all stakeholders interviewed were familiar with the

    concept PPF and that different perspectives on the meaning of PPF were expressed. When the

    concept was further explained the interviewees could relate to it and many of them recognized

    themselves as a PPF. What the PPFs normally have in common is a combination of providing

    financial support and competences to projects that are in a development phase. There are also

    entities that provide support either in the form of competence or financing, where competence

    can be any type of advisory support. Figure 2 below shows an illustration of the overall flow of

    financial support to the project owner.

    As shown in the figure, financial resources originate in organisations such as development banks

    and agencies, national governments, international organisations and private corporations. The

    financial resources are thereafter distributed through programs, funds or other organisations. The

    funds can be used to provide the project owner with requested competences, through in-house

    competence or external consultants. Funding can also be given directly to the project owner who

    can then obtain needed support by its own. In many cases a PPF offers a combination of the two

    and provides both financing and competences.

    Figure 2. Illustration of financing flow to project owners

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    A PPF in this context is thereby the program, fund or organisation providing the project owner

    with financial support and/or requested competences, including or excluding in-house

    competence. In the cases when the program/fund/organisation supports the project owner only

    with financial resources the project owner may use the money received to hire consultants of its

    own and thus money may flow in the opposite direction, from the project owner to the

    consultants, see Figure 2. Usually these funds are targeted towards being used for certain stages

    in the preparation process.

    Another role the PPF holds is that of enabling future financing by providing the project owner with

    contacts with possible investors, such as banks, private equity etc. This service does not include

    any direct financial transactions but has by many been stressed as a success factor for the

    projects.

    4.2 Types of financing

    There are four main types of financing for project preparation:

    Grants Debt Equity

    Guarantees

    The four types of financing play different roles in the project development cycle, as seen in Figure

    3. Grants are most common in the early and mid-stage of project development where the risk is

    high. Grants are therefore considered very important in the phases leading up to bankability.

    Guarantees and debt are common from mid-stage to implementation, while equity normally

    comes in at a later stage and implementation phase.9 The conducted interviews confirm the

    situation that grants are most common in the early stages of project preparation. The interviews

    also revealed that during the early stages it is perceived as difficult to find debt, equity and

    guarantees support from PPFs.

    Figure 3. Project preparation financing framework, ICA (2014)10

    9 ICA (2014) Effective Project Preparation for Africas Infrastructure Development 10 ICA (2014) Effective Project Preparation for Africas Infrastructure Development

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    4.3 Categorisation of PPFs

    The identified PPFs have been categorised based on type of organisation and the support they

    offer, see

    Figure 4. Categorisation of identified PPFs

    . The main categories are programs, funds and other organisations, where the categorisation is

    based on the PPFs own description of their organisation. The subcategories are decided based on

    if the PPF offers financial resources, competence or both. The largest category is funds offering

    financing, followed by programs offering both competence and financing. There are no identified

    PPFs in the category funds offering only competence and only one program that only offer

    competence.

    Figure 4. Categorisation of identified PPFs

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    4.4 PPF database

    A database containing basic information of the identified PPFs has been compiled. The purpose of

    the database is to assist entrepreneurs and investors in projects in finding PPFs that are well

    suited to help develop the projects to the next phase. Thus, the database enables an overview of

    PPFs supporting renewable energy projects in sub-Saharan Africa.

    The main function of the database is to enable the search for PPFs based on certain criteria, such

    as by whom it is funded, the span of funding bracket, or the countries in which the PPFs operate.

    The database is designed to contain basic information regarding the PPFs, yet the information is

    detailed enough to give a good overview to what type of services the PPF provides. Therefore,

    information such as the facilities objectives is included. Furthermore, contact information and

    web-page to the facilities are provided.

    The PPFs have been identified through different sources. As a starting point the PPFs described

    by ICA at their web-page have been included. Also, documents provided by Sida have been used

    for identifying PPFs as well as the interviews that have generated points of contact to different

    PPFs. Additionally, PPFs have been identified as some facilities have described other similar

    organisations providing project support. Multilateral development banks and similar institutions

    have also been used as starting point for finding PPFs. Lastly, the internet has been searched by

    using search items specific for the identified PPFs.

    4.5 Overview of PPF extracts from database

    Below follows a brief description of a selection of identified PPFs. The PPFs described have been

    chosen as they represent different types of support in terms of funding size and

    funding/competence support model.

    Seed Capital Assistance Facility (SCAF)

    SCAF is a fund that offers funding for low carbon projects in development countries in Africa and

    Asia. The contributors are the United Nations Environment Programme (UNEP), the Asian

    Development Bank and the African Development Bank. The PPF is aimed at helping energy

    investment funds in Asia and Africa to provide seed financing to early stage clean energy

    enterprises and projects. SCAF offers funding in three stages:

    Support line 0 Enterprise development

    Support line 1 Seed capital cost sharing

    Support line 2 Project development

    What distinguishes SCAF is that they only work through Private Equity (PE) firms. The PE-firms

    propose a type of incubator solution where competence and progress can be transferred to the

    target company even if the PE-firm does not fulfill the investment. The reason for working

    through PE-firms, UNEP states, is that they identify the right projects and are much better at the

    due diligence process compared to the PPF itself. Since PE-funds usually have a 2% management

    fee they require fairly large projects to invest in. With this model they cannot invest in smaller

    projects since it takes too long time and makes them unprofitable, even if they would be

    successful. Thereby, with support from SCAF the PE-funds can invest in smaller projects.

    However, SCAF requires the PE-funds to also invest and SCAF normally takes around 20% of the

    investment. SCAF states that they, before working through PE-firms, used to have a ~30 %

    success rate and that they now aim at 70 %.

    Climate Technology Initiative-Private Financing Advisory Network (CTI-PFAN)

    CTI-PFAN is a multilateral public private partnership offering competence for early stage clean

    energy projects in, among other, sub-Saharan Africa. The PPF receives funding from CTI and

    other funding partners including USAID, the Renewable Energy & Energy Efficiency Partnership

    (REEEP), the Energy and Climate Partnership of the Americas (ECPA), International Development

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    Research Centre (IDRC) and the International Center for Environmental Technology Transfer

    (ICETT). The key objective for the PPF is to accelerate clean energy projects.

    The CTI-PFAN identifies promising clean energy projects at an early stage and provides

    mentoring for development of a business plan, investment pitch and growth strategy,

    significantly enhancing the possibility of financial closure. The aim is to provide private financing

    and thus they work to connect clean energy businesses and projects with private sector

    financing. CTI-PFAN has four core services:

    1. Project identification

    2. Service investment readiness assessment

    3. Provide coaching, mentoring, consulting

    4. Tipping point technical assistance

    The requirements for receiving support are technical viability, commercial viability, reducing

    greenhouse gas emissions, development benefits, competent management team and growth

    potential.

    Electrification Finance Initiative (ElectriFI)

    ElectriFI is a program currently being operationalized by the European Commission and is

    expected to enter service in 2016. The contributor is the European Commission with European

    Development Finance Institutions (DFIs) as anchor investors; the fund will also be open to

    additional investors. The focus of the PPF is rural electricity, including for example minigrids,

    anchor consumers to consumers and solar solutions. The PPF can also support small projects in

    Renewable Energy Sources (RES) to grid.

    ElectriFI will act as a financing mechanism to support market development and private sector

    initiatives for affordable, sustainable, and reliable energy solutions in developing countries. The

    fund will provide flexible support options, including technical assistance, junior debt, senior debt,

    and equity.

    The project requirements are renewable energy projects with high potential in developing

    countries, addressing access to energy. Projects must be promoted to ElectriFI by another

    European entity, such as a DFI or development agency11. For projects seeking funding at early

    stages of the project development cycle ElectriFI requires the own-capital to be 50 % whereas

    the requirement for developed projects is 15 %. ElectriFI will provide on average 12.5% of the

    total project and no more than 50%.

    U.S African Development Foundation (USADF)

    USADF supports African-led development that grows community enterprises by providing seed

    capital and technical support. The core projects are agricultural but under Power Africa the PPF

    supports renewable energy projects, 2/3rds of which are within solar energy. USADF provides

    grants of 100 000 UDS per project that normally covers 100 % of CAPEX and is a first stage seed

    financing.

    Beneficiaries are, as USADF expresses, those who are presently underserved but ready to do

    their part, typically small holder farmers, youth, women and recovering communities. A key

    requirement is that the supported organisation is locally owned and managed.

    From the first round of the program 8 of the 22 projects are ready for additional financing and

    they are moving towards 50 % success rate. This could be derived from the core operating

    principles:

    11 Africa-EU Renewable Energy Cooperation Programme. http://www.africa-eu-renewables.org/_funds/electrifi/

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    1. Focus program activities on marginalized communities in Africa.

    2. Invest in Africans and their ideas through participatory development.

    3. Ensure projects produce long term social and economic results.

    4. Promote African led and managed field project support.

    5. Achieve the highest levels of openness and transparency.

    6. Support and develop an equal opportunity, results driven staff that rewards hard work,

    dedication to the mission, and personal success.

    7. Model high effectiveness and low overhead operations.

    4.6 Other PPF databases

    There are several organisations that have collected known PPFs, initiatives and funding sources in

    online databases to facilitate the projects process of finding support. As described later in this

    report it is Rambolls recommendation that Sida collaborates with organisations that already have

    such databases. Below are examples of where online PPF databases can be found.

    ICA Fund Finder: http://www.icafrica.org/en/fund-finder/the-fund-finder/

    UNDP-World Bank Climate Finance Options (CFO) Platform:

    http://climatefinanceoptions.org/cfo/funding-sources

    African Development Bank Group: http://www.afdb.org/en/topics-and-sectors/initiatives-

    partnerships

    IRENA Financial Navigator: https://navigator.irena.org/Pages/popupFN.aspx

    RECP Funding Database: http://www.africa-eu-renewables.org/services/funding-database/

    http://www.icafrica.org/en/fund-finder/the-fund-finder/http://climatefinanceoptions.org/cfo/funding-sourceshttps://navigator.irena.org/Pages/popupFN.aspxhttp://www.africa-eu-renewables.org/services/funding-database/

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    5. GAP ANALYSIS

    A Gap analysis has been conducted in order to identify the missing coverage by the identified

    PPFs. The purpose of the gap analysis is to see the geographical coverage of the PPFs as well as

    identifying countries that are not covered. Furthermore, an analysis of investments sizes

    provided by the PPFs has been conducted in order to see potential gaps. The geographical

    coverage is based on projects supported by PPFs in countries within the sub-Saharan Africa

    region in the recent years.

    5.1 Geographical coverage

    In order to find the geographical coverage it has been realised that it is not enough to describe

    the regions that the PPFs express that they can sponsor. Rather, this analysis is based on the

    areas in which the PPFs actually do support projects. Thus, the analysis is based on data from

    each PPF that describes what projects they do support and in which countries these projects are

    present. The information is retrieved either in the form of brochures or web-based sources.

    However, it is important to consider that this analysis is limited to including the projects

    described by the PPF in official documents. Thus, there may be projects not covered due to lack

    of information from the PPF. Also, the available data on supported projects differ between the

    PPFs; some provide complete project lists whereas others only present reference projects. Not all

    PPFs provide information on supported projects and therefore the analysis is based on

    information from 45 of the 71 identified PPFs. There might thereby be a more extensive coverage

    than the analysis shows, albeit the referenced projects could indicate where the PPF has

    successful experiences of working.

    Figure 5 provides a condensed overview of the PPFs geographical coverage. The different colours

    represent the number of PPFs that have conducted projects in renewable energy or energy

    efficiency in the area. This visualisation also includes an aspect of density, showing which

    countries that receive more or less support from PPFs. It is shown that there are many PPFs that

    have supported projects in countries such as Kenya, Tanzania, Uganda, Ghana, Benin and

    Senegal. On the other hand there are countries with very few or no PPF supported projects and

    where there consequently can be considered to be a gap. These countries are foremost:

    Angola Comoros Equatorial Guinea Eritrea Gabon Gambia Mauritius Republic of the Congo So Tom and Prncipe South Sudan

    For a complete list of which PPFs that have supported projects in the different countries, see

    Appendix I.

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    Figure 5. Visualisation of PPF coverage*

    5.2 Size of investments

    As described, the PPFs differ in terms of which type of support they give, geographical areas they

    support, what type of funding they provide, and the size of the funding support. A gap analysis

    mapping the different size of investments and/or funding provided by the PPFs has been

    conducted. A categorisation has been done of small, mid and large sized funding. The

    categorization is based on the range of funding of investments that the PPFs state that they

    support projects with.

    Based on this mapping of the identified PPFs it can be concluded that there is no clear gap in

    funding across the different ranges. Also, it is seen that the PPFs tend to state a wide range of

    their potential size of funding. Further analysis could include looking at the average size of

    funding or investment provided; however, due to the lack of data from the PPFs regarding

    average funding size it has not been possible to execute such analysis.

    Table 2. Size of PPF investment and funding

    In terms of what types of funding that is provided within the different ranges it is seen that

    funding below 1 million USD tend to be in the form of grants whereas larger investments above

    10 million USD tend to be a mixture of equity and debt. For the middle range, a combination of

    grants, equity and debt is provided. In terms of gaps, it has been identified that there are few

    PPFs that support projects with guarantees. Thus, the gap analysis of the size of the PPF

    investments has shown that in terms of the size of funding there are no major gaps but looking

    at the type of funding provided there is a lack of guarantees.

    * South Sudan is in this map included in Sudan, however there are four PPFs with projects in Sudan and none in South Sudan

    PPF funding range (USD)

    Support to

    projects within

    the range

    Support projects

    only within the

    range

    < 1 000 000 26 7

    1 000 000 - 10 000 000 30 7

    > 10 000 000 17 9

    Northern Africa

    1 PPF

    2-4 PPFs

    5-9 PPFs

    10 PPFs

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    6. SITUATION ANALYSIS

    6.1 Best practices according to interviewed PPFs

    Both in the literature and in conducted interviews success factors and best practices among PPFs

    have been discussed. In the interviews two success factors are stressed: finding the right

    projects and local adaptability. Additionally, ICA has identified some aspects of best practice for

    PPFs.

    Finding the right projects

    The key for a PPF to be successful is to find the right projects. The PPFs interviewed describe a

    number of factors which have enabled their organisation to succeed. In terms of selecting

    projects, such factors include being open to and review a large number of projects, to have a

    rigorous yet flexible selection process, local market and context understanding of where the

    project operates, and to source a project at a relatively defined cost.

    Local adaptability

    Some of the interviewees have expressed that the success of a PPF is dependent on the local

    marketing and communication efforts. There is a demand in the market for such kind of support;

    the complication is that each local region has its own sets of regulations and conditions. Thus,

    local adaptability is important for a PPF to succeed.

    Best practice

    ICA has identified and followed up on best practices when financing project preparation of

    infrastructure projects. They have summarised the best practices in the following five points.13

    Clear objectives and a focused strategy Self-sustainable financing model Excellence in portfolio management Cost-efficient and value-adding advisory services

    Stringent governance and accountability framework

    In the latest study however, ICA has found that very few of existing PPFs manage to follow these

    best practices, which may be the explanation as to why there has been an unsatisfying

    performance among the PPFs.

    6.2 Constraints and hurdles

    In the conducted interviews Ramboll has identified a number of constraints and hurdles for PPFs.

    Below are some of the key hurdles expressed during the interviews.

    Lack of early stage support

    Ramboll has through interviews and document studies come to the understanding that there is a

    lack of early stage support in terms of project development. There are several dimensions to this

    challenge. Firstly, the support is not easily accessible for the support seeking projects. One

    reason for this, as one of the interviewees argues, is that the facilities offering support risk

    receiving an unmanageable amount of applications. So, by being too known, a PPF might get too

    many applications that consume the management teams resources instead of actually

    developing projects.

    Secondly, the amount of development support in terms of grant and other financial funding

    support is argued not enough to cover the needs of project development. On the other hand, it

    has also been expressed during the interviews that there is an excess amount of investors

    providing grants and that the problem is a lack of investors with large amount of capital that

    contributes with soft loans and bank guarantees. Another interviewee adds to this by describing

    13 ICA (2015) Assessment of African Infrastructure Project Preparation Facilities Lessons Learned and Best practices, Draft report

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    that on an overall perspective, a challenge PPFs and other investors face regards that

    organisations and investors are more familiar working with providing aid rather than

    development. There is a paradigm shift where a different kind of support is provided and it is a

    challenge for organisations to adapt to this.

    Lack of resources

    One of the challenges described during the interviews concern the capacity of the advisory and

    consultancy industry in sub-Saharan Africa. Currently, there is an insufficient amount of

    consultants to cover the need for advisory services making it a bottle neck. Thus, even though

    more and more investments become available there is a lack of consultants who support projects

    to become bankable. From an internal perspective of the PPF, some organisations have

    expressed the importance of keeping the right competence within the organisation in order to be

    able to provide high quality support.

    Lack of enabling environment

    A challenge for developing renewable energy projects concern legal rights and corruption. For

    example, when developing projects legal rights is a vital aspect as well as it is a subject for

    corruption. Another hurdle for renewable energy investments in sub-Saharan Africa concerns the

    immature stage of the energy market where a lack of insight in consumption and demand

    contributes to high uncertainties.

    Difficulties matching projects and PPFs

    In terms of challenges for PPFs it differs between commercial profit seeking facilities and those

    that are non-commercial. For the commercial facilities where the facility invests in large projects

    with equity or debt the challenges are two-fold. On the one hand, the PPF has to prove to the

    project that their support is necessary for the projects survival. On the other hand, it is hard for

    such PPFs to identify projects that fit the desired scale which limits the market.

    Also, the perspective of advisory provider is described as a challenge where some organisations

    argue that it is important to provide advisory services to projects that are not necessarily

    successful. It is therefore a challenge for a PPF not to only seek successful projects but to have a

    wider scope in what type of projects are supported. Rambolls view on this is that there is a high

    risk that resources are wasted if projects are not sustainable in an economic way. Infrastructure

    projects including power generation from renewable energy sources may deteriorate quickly if

    they are not properly maintained, which will not be the case if the project is not successful. This

    view is also shared with most of the interviewees.

    A hurdle for the support seekers is to identify and get in contact with suitable PPFs and also that

    the PPFs request better channels to find project. Today much of the support provided is based on

    personal relations and there is also a challenge for small actors to meet the different

    requirements when applying for funding. One appeal expressed in the interviews, is to compile

    information on available projects where investors can observe: type of project, project phases,

    project owners etc. One idea would be to launch a project database in parallel to a PPF database.

    Project owners would then enter their project ideas and its current status in terms of land,

    permits, people, funding etc. into a template in the database. PPFs would then in a quick way be

    able to seek projects.

    6.3 On-going improvements and requested support from Sida

    Related to the constraints and hurdles the PPFs express a number of on-going or desired

    improvements, some of which they are managing themselves and some for which they view Sida

    as a potential enabling partner.

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    One key area of improvement, which the PPFs to a large extent can manage themselves, includes

    a simplification of the application process for gaining project development support. This also

    concerns the projects reporting to the PPF which in many cases can be simplified.

    In order for projects success to extend after the project preparation it is suggested that PPFs

    improve their collaboration with banks. The PPFs could work together with the bank sector for

    each project where the banks can be involved and gain in-depth insight into the business and

    thereby realising the value of the project.

    Another aspect, stronger related to requested support from Sida, is managing high risk

    investments. One aspect of a challenge that emerged during the interviews concern that the need

    for support when developing projects is rather equal regardless of the size of the project. From a

    commercial point of view with a need to invest in scalable and typically larger projects it is

    common that larger projects receive project preparation support. However, the interviewees

    recommended Sida to take the role of investing in project preparation support for smaller

    projects. The type of projects concerned are where the development costs are not covered by the

    projects returns, thus these are not as attractive as larger projects from an investor point of

    view.

    Similarly Sida could provide financing support in terms of providing collateral to banks in addition

    to providing grants. This is described as an area where many project developers struggle as

    banks may have difficulties in seeing the value of the projects assets. Furthermore there is a

    potential role for Sida in increasing funding provided in terms of governmental guarantees.

    One of Sidas key values is expressed to be the local presence and competence. This aspect

    should be fully utilised in terms of providing support in the manner of project facilitation. One of

    the interviewees suggests that Sida can play an important role by engaging embassies in the

    local markets to help PPFs and projects to develop through its networks. This is related to the

    need for collaboration in order to ensure that the projects are developed and find sustainable

    business models and modes of financing. In order for this, it has been expressed during the

    interviews that collaboration between private sector and public organisations and regulators is

    essential.

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    7. CRITICAL SUCCESS FACTORS FOR PPFS

    Ramboll has identified a number of critical success factors that can make PPFs more or less

    successful in moving projects from ideas to bankable projects.

    The basis for a successful PPF is to view the projects to be prepared in the same way as any

    commercial investment opportunity where you would put your own money and expect some sort

    of return on investment. Successful Venture Capital (VC) funds focus on a specific sector where

    they have a deep knowledge, experience and understanding. Already when providing seed

    funding they have a view on how to attract additional investors and are often ready to participate

    in the next round of financing in order to show confidence in the project. They asses risks and

    document how risks can be mitigated. This includes financial risks, technical, market,

    environmental, political, lack of competence, supply chain and all other risks that may delay the

    project or affect the budget. It also includes moving a project through a staged process with a

    number of milestones that have to be passed, often labelled toll gates. A Venture Capital Fund

    will have a portfolio of different projects since they know that only a part of the projects will

    actually be successful. When applying this philosophy of VC firms to PPFs the criteria described

    below are critical.

    Figure 6. Overview of critical success factors

    Professional Management

    The PPF should be managed by a professional team with experience in the relevant sector. This

    means a team of professionals with experience in project development of renewable energy

    solutions in the sub-Saharan markets. The team should set up routines for evaluating project

    potential including CAPEX and OPEX, long term market potential and revenues. Their internal

    processes should follow a staged approach with milestones meaning that some potential projects

    will be stopped during the project preparation, a process similar to the credit approval process of

    a commercial bank.

    The professional management includes a clear mandate to the PPF managers to take

    responsibility for which projects to support and to avoid bureaucratic procedures and decision

    making processes.

    Bankable projects Professional

    Management

    Focus

    Sustainable financing

    model with return on

    investment

    Large funds with

    economies of scale

    Local knowledge

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    Focus

    Most PPFs are broad in their approach to support infrastructure projects in Africa and Asia. This is

    however an extremely diverse approach. According to the PPF-managers that have been

    interviewed it is important to have a sector focus on for instance Renewable Energy as well as a

    geographical focus on a smaller number of countries. To succeed in developing a project from an

    idea through financial close into a profitable company requires local knowledge, often political

    acceptance and contacts with the local business environment. Such knowledge cannot be built in

    too many countries in parallel.

    Sustainable financing model Return on Investment

    Funds that have requirements on returns on investment are perceived as more successful in

    moving projects to financing than funds that just supply grants. A reason is that the managers

    taking decisions on which project to support will be much more critical in the evaluation and

    support projects with a higher probability of success and limited risks of failure. The way that the

    invested capital is returned can vary with a number of instruments available including debt,

    convertible loans, equity, guarantees or a blend of different instruments.

    With a requirement to have a return on investment the PPF and its team of professionals will

    have a higher continuity and the profits will be re-invested in new projects and the PPF will

    continue on its own merits. To build a professional team with a high rate of success takes several

    years and the longer experience the better performance. With programs that only provide grants

    there is a dependency of continuous support from donors and as funds are disbursed the

    program ends.

    SCAF who only supports projects that are backed by Private Equity firms has an operating model

    which is expected to take 70% of the supported projects to financial close. SCAF leaves the due

    diligence and evaluation of the projects to the responsibility of the PE-firms. In SCAFs operating

    model it is also a prerequisite that business plans and other assistance provided by the PE-firm or

    its advisors are left with the project, even if the PE-firm pulls out of the deal.

    Large funds Economies of scale

    The larger the fund the smaller the management fee will be and the easier it is to have a highly

    experienced team of experts engaged. A large fund will also have the capability to provide

    additional support or funding in order to push a viable project into financial close. Large fund will

    also have a portfolio of projects in different phases, with varying potential to become profitable

    entities.

    Local knowledge

    Understanding of the local and national context is important in succeeding with project

    development. This includes understanding national regulatory and legal systems, having an

    acceptance from the political agencies but also an understanding of the business climate in the

    specific country. As Sida is well aware of the countries of sub-Saharan Africa differ a lot in

    between each other, and to succeed in developing projects the national environment must be

    known.

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    8. RECOMMENDATIONS TO SIDA

    Sida has in its mission within the Power Africa initiative very clear goals in working with poverty

    reduction and to support sustainable projects within Renewable Energy and Energy Efficiency.

    There is a high demand for PPFs and as mentioned earlier the available funds are not sufficient to

    give the necessary support to the needed infrastructure projects on the African continent. So

    Ramboll recommends Sida to continue to support existing PPFs, but that this support is focused

    on the funds with the potential to actually choose the right projects and make them bankable,

    which is not easy. Success in supporting PPFs can only be measured in the number of projects

    that are moved from idea to financial close.

    Table 3. Overview of Ramboll's recommendations to Sida

    Recommendation Description

    1. PPF support Support existing PPFs with a high hit rate that live up to

    the critical success factors

    2. The PPF database

    Assure continuity in maintaining the database in the

    future by integrating it in the ICA database that already

    exists

    3. Project database Create a database to provide both investors and PPFs

    with an overview of potential projects to support

    PPF support

    It is recommended to support PPFs with a high hit rate that fulfils the Critical Success Factors

    mentioned in the previous chapter. It is also recommended to stop supporting smaller PPFs

    without the local knowledge, size or professional management that is required. Smaller projects

    may still be reached by supporting organisations like USADF that even though they provide

    grants, have a sustainable and long term model that assures continuity.

    Ramboll was asked to provide a gap analysis to Sida to evaluate whether there are any types of

    projects or countries that do not get adequate support in terms of project preparation within

    renewable energy or energy efficiency. Based on the huge number of existing PPFs and the

    number of countries that are already covered the recommendation to Sida is to channel its funds

    through the best performing PPFs rather than new PPFs. Ramboll sees no need for additional PPFs

    but rather that the existing improve their performance.

    The PPF Database

    The need for PPFs is unquestionable and new PPFs will emerge to help support projects in

    reaching financial close. The number of organizations in the Western World that are willing to

    help in supporting infrastructure projects in Africa is enormous. Many of them will help with both

    expertise and funding in order to move projects to financial close.

    In order to get an overview of all funds that Ramboll have identified and to assure continuity in

    maintaining a database in the future, Ramboll recommends that this database is integrated in the

    ICA database that already exists. The database should be presented as an opportunity for PPF-

    managers to promote their funds and thereby provide information to ICA. When building the

    extended ICA database all PPFs must verify and update the information on a regular basis.

    When Sida gets requests to support projects in reaching financial close one can point to the ICA

    database.

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    Project Database

    Ramboll also recommends that a database is created to provide both investors and PPFs with an

    overview of potential projects to support. There must be some sort of quality assurance in

    allowing projects to be posted in the database to avoid unserious fortune seekers to access

    money. In the database it should be clear where the project stands in terms of available business

    plan, economic potential, required investments, overall time plan, access to land, required

    permits as well as obtained permits as well as information about the project owners.

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    APPENDIX I GEOGRAPHICAL COVERAGE OF PPF

    SUPPORTED PROJECTS

    Country PPFs that have supported projects in the country**

    Angola ESMAP

    Benin CP-EU EF

    Camco

    CTI-PFAN

    ESMAP

    EU-AITF

    GEF

    ICF-DP

    NEPAD IPPF

    OFID Energy Poverty Program

    Powering Agriculture

    REEEP

    Botswana CTI-PFAN

    EEP

    F&C

    NEPAD IPPF

    Burkina Faso ACP-EU EF

    CDKN

    ESMAP

    NEPAD IPPF

    OFID Energy Poverty Program

    REEEP

    Burundi ACP-EU EF

    EEP

    ESMAP

    EU-AITF

    OFID Energy Poverty Program

    Cameroon ACF

    ACP-EU EF

    CDKN

    DEG

    ESMAP

    EU-AITF

    GEF

    OFID Energy Poverty Program

    Cape Verde CTI-PFAN

    InfraCo Africa

    Central African Republic ACP-EU EF

    ESMAP

    Chad ACP-EU EF

    GEF

    Comoros ACP-EU EF

    Democratic Republic of the

    Congo

    ACP-EU EF

    AFD DBSA PPFS

    CTI-PFAN

    ESMAP

    EU-AITF

    * The geographical coverage is based on ~30 identified PPFs that provide project lists or reference projects

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    GPOBA

    OFID Energy Poverty Program

    Djibouti ESMAP

    OFID Energy Poverty Program

    Equatorial Guinea GEF

    Eritrea ACP-EU EF

    Ethiopia ACP-EU EF

    CDKN

    CTI-PFAN

    DEG

    ESMAP

    EU-AITF

    GEF

    ICF-DP

    PAEGC

    REEEP

    SREP

    USADF

    Gabon

    Gambia

    Ghana ACP-EU EF

    CDFF

    CDKN

    CTI-PFAN

    DEG

    EAIF

    ESMAP

    EU-AITF

    ICF-DP

    InfraCo Africa

    NEPAD IPPF

    OFID Energy Poverty Program

    PEC

    Powering Agriculture

    PPIAF

    REEEP

    USADF

    USTDA

    Guinea ESMAP

    EU-AITF

    PPIAF

    Guinea-Bissau ACP-EU EF

    CTI-PFAN

    ESMAP

    GEF

    OFID Energy Poverty Program

    REEEP

    Ivory Coast ACP-EU EF

    DEG

    EAIF

    EU-AITF

    OFID Energy Poverty Program

    PPIAF

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    REEEP

    Kenya ACP-EU EF

    Camco

    CDFF

    CDKN

    CIC

    CTI-PFAN

    DEG

    DI Frontier Investment

    EAIF

    EEP

    ESMAP

    EU-AITF

    F&C

    GEF

    GPOBA

    GVEP

    ICF-DP

    IFC InfraVentures

    KAM RTAP Phase II - SUNREF

    NEPAD IPPF

    OFID Energy Poverty Program

    Powering Agriculture

    PPIAF

    REEEP

    SREP

    USADF

    Lesotho ACP-EU EF

    CTI-PFAN

    EEP

    ESMAP

    GEF

    REEEP

    Liberia ACP-EU EF

    CTI-PFAN

    ESMAP

    EU-AITF

    OFID Energy Poverty Program

    PPIAF

    USADF

    Madagascar ACP-EU EF

    ESMAP

    GEF

    OFID Energy Poverty Program

    Malawi ACP-EU EF

    CDKN

    ESMAP

    GEF

    OFID Energy Poverty Program

    Mali ACP-EU EF

    CDKN

    CTI-PFAN

    ESMAP

    IFC InfraVentures

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    IRENA/ADFD Project Facility

    OFID Energy Poverty Program

    REEEP

    SREP

    Mauritania ACP-EU EF

    EU-AITF

    IRENA/ADFD Project Facility

    OFID Energy Poverty Program

    Mauritius ESMAP

    Mozambique ACP-EU EF

    CDKN

    CTI-PFAN

    EEP

    ESMAP

    F&C

    OFID Energy Poverty Program

    Powering Agriculture

    REEEP

    Namibia CDKN

    CTI-PFAN

    EEP

    EU-AITF

    F&C

    NEPAD IPPF

    OFID Energy Poverty Program

    REEEP

    Niger ACP-EU EF

    ESMAP

    EU-AITF

    OFID Energy Poverty Program

    REEEP

    Nigeria ACEF

    ACF

    CDFF

    CDKN

    CTI-PFAN

    DEG

    EAIF

    ESMAP

    GEF

    GuarantCo

    IFC InfraVentures

    InfraCo Africa

    Powering Agriculture

    PEC

    USADF

    Republic of the Congo

    Rwanda ACP-EU EF

    CDKN

    CTI-PFAN

    EAIF

    EEP

    ESMAP

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    EU-AITF

    FMO Entrepreneurial Development Bank

    GVEP

    OFID Energy Poverty Program

    Powering Agriculture

    So Tom and Prncipe

    Senegal ACP-EU EF

    CDKN

    CTI-PFAN

    EAIF

    ESMAP

    EU-AITF

    GVEP

    IFC InfraVentures

    PPIAF

    REEEP

    Seychelles EEP

    ESMAP

    Sierra Leone ACP-EU EF

    CDKN

    CTI-PFAN

    EAIF

    ESMAP

    EU-AITF

    GEF

    ICF-DP

    IRENA/ADFD Project Facility

    PPIAF

    Somalia ACP-EU EF

    CTI-PFAN

    South Africa Camco

    CDKN

    CIF-CTF

    CTI-PFAN

    DEG

    EAV

    EEP

    ESMAP

    Evolution One Fund

    F&C

    GCPF

    GEEF

    GEF

    ICF-DP

    LMSC

    REEEP

    SCAF

    South Sudan

    Sudan CTI-PFAN

    ESMAP

    GEF

    OFID Energy Poverty Program

    Swaziland EEP

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    CTI-PFAN

    Tanzania ACP-EU EF

    ACEF

    AECF REACT

    Camco

    CTI-PFAN

    DI Frontier Investment

    EEP

    ESMAP

    EU-AITF

    GEF

    GuarantCo

    GVEP

    KAM RTAP Phase II-SUNREF

    LFI

    NEPAD IPPF

    OFID Energy Poverty Program

    Powering Agriculture

    PEC

    PPIAF

    REF

    REEEP

    SCAF

    USADF

    Togo ACP-EU EF

    CDKN

    CTI-PFAN

    DEG

    ESMAP

    EU-AITF

    NEPAD IPPF

    OFID Energy Poverty Program

    PEC

    REEEP

    Uganda ACF

    ACP-EU EF

    Camco

    CDFF

    CTI-PFAN

    DEG

    DI Frontier Investment

    EAIF

    EEP

    ESMAP

    EU-AITF

    F&C

    Get FiT

    GuarantCo

    InfraCo Africa

    KAM RTAP Phase II-SUNREF

    LFI

    LMSC

    Powering Agriculture

    PEC

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    PPIAF

    REEEP

    Zambia ACP-EU EF

    CDKN

    CTI-PFAN

    EEP

    ESMAP

    EU-AITF

    F&C

    FMO Entrepreneurial Development Bank

    NEPAD IPPF

    Powering Agriculture

    Zimbabwe ACP-EU EF

    AECF REACT

    CDKN

    CTI-PFAN

    ESMAP

    NEPAD IPPF

    OFID Energy Poverty Program

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    APPENDIX II SUMMARY OF PROJECT PREPARATION FACILITIES DATABASE

    Summary of Project Preparation Facilities Database

    Abbreviation Title Host organisation Contributors / donors / funders Funding

    bracket min

    USD

    Funding

    bracket

    max USD

    Type of

    finance

    provided

    Supported

    energy

    types

    Target countries

    1 ACEF Africa Clean Energy Finance

    initiative

    OPIC, the U.S. Trade and

    Development Agency and

    the U.S. Department of

    State

    OPIC, the U.S. Trade and Development Agency and

    the U.S. Department of State

    n.a. n.a. Debt,

    guaranteees

    RES Algeria, Democratic Republic of Congo,

    Kenya, Nigeria, Angola, Ivory Coast,

    Lesotho, Rwanda, Benin Djibouti Liberia

    Sao Tome and Principe , Botswana,

    Egypt, Madagascar, Senegal, Burkina

    Faso, Equatorial Guinea, Malawi, Sierra

    Leone, Burundi, Eritrea, Mali, South

    Africa, Cameroon, Ethiopia, Mauritania,

    Swaziland, Cape Verde, Gabon,

    Mauritius, Tanzania, Central African

    Republic, Gambia, Togo, Chad, Ghana,

    Mozambique, Comoros Islands, Guinea,

    Namibia, Uganda, Congo, Guinea-Bissau,

    Niger, Zambia

    2 ACF Access Infra Africa Access Co-

    Development Fund

    n.a. EREN Developpement, Access Power MEA n.a. n.a. Equity RES Africa

    3 ACP-EC EF II African, Caribbean and Pacific -

    European Commission Energy

    Facility II

    European Commission EU Member States 200 000 2 500 000 Grant RES Angola, Benin, Botswana, Burkina Faso,

    Burundi, Cameroon, Cape Verde, Central

    African Republic, Chad, Comoros, Congo-

    Brazzaville, Cte d'Ivoire, Democratic

    Republic of Congo, Djibouti, Equatorial

    Guinea, Eritrea, Ethiopia, Gabon,

    Gambia, Ghana, Guinea, Guinea-Bissau,

    Kenya, Lesotho, Liberia, Madagascar,

    Malawi, Mali, Mauritius, Mozambique,

    Namibia, Niger, Nigeria, Rwanda,

    Senegal, Seychelles, Sierra Leone,

    Somalia, South Africa, Sudan,

    Swaziland, Sao Tome and Principe ,

    Tanzania, Togo, Uganda, Zambia,

    Zimbabwe

    4 AECF REACT Africa Enterprise Challenge Fund Alliance for a Green

    Revolution in Africa (AGRA)

    / KPMG International

    Development Advisory

    Services (KPMG IDAS)

    governments of Australia, Denmark, Netherlands,

    Sweden and the United Kingdom, as well as the

    International Fund for Agricultural Development

    (IFAD)

    n.a. 1 500 000 Grants,

    interest free

    loans

    RES Burundi, Kenya, Malawi, Mozambique,

    Rwanda, Tanzania, Uganda, Angola

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    5 AFD DBSA PPFS AFD DBSA Project Preparation and

    Feasibility Study

    Development Bank of

    Southern Africa

    AFD - Agence Franaise de Dveloppement

    DBSA - Development Bank of Southern Africa

    500 000 500 000 n.a. RES,

    Transmission

    /distribution

    Angola, Benin, Botswana, Burkina Faso,

    Burundi, Cameroon, Cape Verde, Central

    African Republic, Chad, Comoros, Congo-

    Brazzaville, Cte d'Ivoire, Democratic

    Republic of Congo, Djibouti, Equatorial

    Guinea, Eritrea, Ethiopia, Gabon,

    Gambia, Ghana, Guinea, Guinea-Bissau,

    Kenya, Lesotho, Liberia, Madagascar,

    Malawi, Mali, Mauritius, Mozambique,

    Namibia, Niger, Nigeria, Rwanda,

    Senegal, Seychelles, Sierra Leone,

    Somalia, South Sudan, Sudan,

    Swaziland, Sao Tome and Principe ,

    Tanzania, Togo, Uganda, Zambia,

    Zimbabwe

    6 Africa50 Africa50 Investment Bank for

    Infrastructure in Africa

    n.a. AfDB n.a. n.a. n.a. RES Africa

    7 AREF Africa Renewable Energy Fund Berkley Energy SEFA, AfDB, GEEREF 10 000 000 30 000 000 Equity, Grant RES Angola, Benin, Botswana, Burkina Faso,

    Burundi, Cameroon, Cape Verde, Central

    African Republic, Chad, Comoros,

    Democratic Republic of the Congo,

    Djibouti, Equatorial Guinea, Eritrea,

    Ethiopia, Gabon, Gambia, Ghana,

    Guinea, Guinea-Bissau, Ivory Coast,

    Kenya, Lesotho, Liberia, Madagascar,

    Malawi, Mali, Mauritania, Mauritius,

    Mozambique, Namibia, Niger, Nigeria,

    Republic of the Congo, Rwanda, Sao

    Tome and Principe, Senegal, Seychelles,

    Sierra Leone, Somalia, South Sudan,

    Sudan, Swaziland, Tanzania, Togo,

    Uganda, Zambia, Zimbabwe

    8 Ariya Capital Sub-

    Saharan Africa

    Cleantech Fund

    Ariya Capital Sub-Saharan Africa

    Cleantech Fund

    n.a. n.a. 3 000 000 10 000 000 Equity RES Southern Africa

    9 Camco Camco n.a. n.a. n.a. n.a. n.a. RES - Solar Angola, Benin, Botswana, Burkina Faso,

    Burundi, Cameroon, Cape Verde, Central

    African Republic, Chad, Comoros,

    Democratic Republic of the Congo,

    Djibouti, Equatorial Guinea, Eritrea,

    Ethiopia, Gabon, Gambia, Ghana,

    Guinea, Guinea-Bissau, Ivory Coast,

    Kenya, Lesotho, Liberia, Madagascar,

    Malawi, Mali, Mauritania, Mauritius,

    Mozambique, Namibia, Niger, Nigeria,

    Republic of the Congo, Rwanda, Sao

    Tome and Principe, Senegal, Seychelles,

    Sierra Leone, Somalia, South Africa,

    South Sudan, Sudan, Swaziland,

    Tanzania, Togo, Uganda, Zambia,

    Zimbabwe

  • Analysis of renewable energy project preparation facilities in sub-Saharan africa

    Page | 33

    10 CDFF Climate Development and Finance

    Facility / Climate Investor One

    n.a. The Netherlands, UK, the Netherlands Development

    Finance Company (FMO)

    80 000 000 100 000 000 Equity, non-

    repayable

    donor

    contributions

    RES Africa

    11 CDKN Climate & Development Knowledge

    Network

    PricewaterhouseCoopers

    LLP (PwC), Fundacin

    Futuro Latinoamericano, the

    Overseas Development

    Institute, SouthSouthNorth,

    and LEAD Pakistan

    the UK Department for International Development

    (DfID) and the Dutch Ministry of Foreign Affairs

    (DGIS)

    n.a. n.a. n.a. RES Ethiopia, Kenya, Uganda, Tanzania,

    Mozambique, Malawi, Zambia,

    Zimbabwe, Botswana, South Africa,

    Namibia, Angola, Democratic Republic of

    the Congo, Cameroon, Nigeria, Benin,

    Togo, Ghana, Burkina Faso, Sierra

    Leone, Senegal, Mali, Chad,

    12 Charge Charge World Resource Institute World Resource Institute n.a. n.a. n.a. RES Sub-Saharan Africa

    13 CIC Kenya Climate Innovation Centre infoDev (World Bank) United Kingdoms UKaid and the Danish Ministry of

    Foreign Affairs

    50 000 750 000 Grants,

    repayable

    loans

    RES Kenya

    14 CIF-CTF The Climate Investment Funds

    Clean Technology Fund

    The Climate Investment

    Funds (CIF)

    UK, US, Japan, Germany, Canada, France, Norway,

    Australia, Sweden, Spain, Netherlands, Denmark,

    Switzerland, Korea

    n.a. n.a. n.a. RES,

    Energy

    Efficiency

    Nigeria, South Africa

    15 Clean Start

    Programme

    UNCDF Clean Start Programme UN Capital Development

    Fund (UNCDF)

    ADC, Norad, Liechtenstein, Sida, UNCDF n.a. n.a. Grants, other RES Uganda, Ethiopia, Democratic Republic

    of the Congo, Tanzania, Cameroon,

    Senegal, Burkina Faso

    16 CTI-PFAN Climate Technology Initiative-

    Private Financing Advisory

    Network

    Climate Technology

    Initiative and the United

    Nations Framework

    Convention on Climate

    Change

    CTI and other funding partners including USAID, the

    Renewable Energy & Energy Efficiency Partnership

    (REEEP), the Energy and Climate Partnership of the

    Americas (ECPA), International Development

    Research Centre (IDRC), and the International

    Center for Environmental Technology Transfer

    (ICETT)

    n.a. n.a. n.a. RES,

    Energy

    Efficiency

    East, West and Southern Africa

    17 DBSA EIB PDSF DBSA EIB Project Development

    and Support Facility

    Development Bank of

    Southern Africa

    DBSA - Development Bank of Southern Africa

    EIB - European Investment Bank

    625 000 625 000 Grant RES,

    Transmission

    /distribution

    Angola, Botswana, Burundi, Comoros,

    Djibouti, Eritrea, Ethiopia, Kenya,

    Lesotho, Madagascar, Malawi,

    Mauritius, Mozambique, Namibia,

    Rwanda, Seychelles, Somalia, South

    Sudan, Sudan, Swaziland, Tanzania,

    Uganda, Zambia, Zimbabwe

    18 DBSADF DBSA Development Fund Development Bank of

    Southern Africa

    DBSA and South African Department of Treasury n.a. n.a. Grant RES South Africa

    19 DEG The German Development Finance

    Institutions

    n.a. Federal Government of Germany 10 000 000 30 000 000 Equity, Debt RES South Africa, Kenya and Ghana,

    Cameroon, Ivory Coast, Nigeria,

    Ethiopia, Uganda, Tanzania, Zambia and

    Mozambique. Selective projects in other

    Sub Saharan countries.

    20 DemoMilj III DemoMilj Tillvxtverket Sida n.a. 1 800 000 SEKGrant RES Mozambique, Tanzania, Zambia, Kenya

  • Analysis of renewable energy project preparation facilities in sub-Saharan africa

    Page | 34

    21 DevCo Infrastructure Development

    Collaboration Partnership Fund

    IFCs Public Private

    Partnerships Transactions

    Advisory Services

    Department

    IFC, DFID, Dutch Ministry for Foreign Affairs (DGIS),

    Sida, Austrian Development Agency (ADA)

    1 000 000 1 000 000 Grant RES,

    Transmission

    /distribution

    Algeria, Angola, Benin, Botswana,

    Burkina Faso, Burundi, Cameroon, Cape

    Verde, Central African Republic, Chad,

    Comoros, Congo-Brazzaville, Cte

    d'Ivoire, Democratic Republic of Congo,

    Djibouti, Egypt, Equatorial Guinea,

    Eritrea, Ethiopia, Gabon, Gambia,

    Ghana, Guinea, Guinea-Bissau, Kenya,

    Lesotho, Liberia, Libya, Madagascar,

    Malawi, Mali, Mauritania, Mauritius,

    Morocco, Mozambique, Namibia, Niger,

    Nigeria, Rwanda, Senegal, Seychelles,

    Sierra Leone, Somalia, South Africa,

    Sudan, Swaziland, Sao Tome and

    Principe , Tanzania, Togo, Tunisia,

    Uganda, Zambia, Zimbabwe

    22 DI Frontier

    Investment

    DI Frontier Investment Danish based investment

    fund

    SCAF, EU 3 000 000 10 000 000 Equity

    Mezzanine

    capital,

    Short term

    debt

    financing

    RES Angola, Benin, Botswana, Burkina Faso,

    Burundi, Cameroon, Cape Verde, Central

    African Republic, Chad, Comoros,

    Democratic Republic of the Congo,

    Djibouti, Equatorial Guinea, Eritrea,

    Ethiopia, Gabon, Gambia, Ghana,

    Guinea, Guinea-Bissau, Ivory Coast,

    Kenya, Lesotho, Liberia, Madagascar,

    Malawi, Mali, Mauritania, Mauritius,

    Mozambique, Namibia, Niger, Nigeria,

    Republic of the Congo, Rwanda, Sao

    Tome and Principe, Senegal, Seychelles,

    Sierra Leone, Somalia, South Africa,

    South Sudan, Sudan, Swaziland,

    Tanzania, Togo, Uganda, Zambia,

    Zimbabwe

    23 EAIF Emerging Africa Infrastructure

    Fund

    Network/partners: PIDG

    Group, European DFIs

    Governments (UK, NL, Swiss), KfW, FMO, SBSA,

    Standard Charter, PIDG (Equity investor)

    30 000 000 50 000 000 Debt RES Angola, Benin, Botswana, Burkina Faso,

    Burundi, Cameroon, Cape Verde, Central

    African Republic, Chad, Comoros,

    Democratic Republic of the Congo,

    Djibouti, Equatorial Guinea, Eritrea,

    Ethiopia, Gabon, Gambia, Ghana,

    Guinea, Guinea-Bissau, Ivory Coast,

    Kenya, Lesotho, Liberia, Madagascar,

    Malawi, Mali, Mauritania, Mauritius,

    Mozambique, Namibia, Niger, Nigeria,

    Republic of the Congo, Rwanda, Sao

    Tome and Principe, Senegal, Seychelles,

    Sierra Leone, Somalia, South Africa,

    South Sudan, Sudan, Swaziland,

    Tanzania, Togo, Uganda, Zambia,

    Zimbabwe

    24 EAV Energy Access Ventures Network/partner: Schneider

    Electric, AFD, Berkeley

    Energy

    Schneider Electric in partnership with, CDC Group,

    FISEA PROPARCO, OFID, and AFD- FFEM

    500 000 4 000 000 Equity, Debt RES - Solar Burundi, Ethiopia, Kenya, Malawi,

    Mozambique, Rwanda, Tanzania,

    Uganda, Zambia and Zimbabwe

  • Analysis of renewable energy project preparation facilities in sub-Saharan africa

    Page | 35

    25 EEDF EU-EDFI Private Sector

    Development Facility

    the European Financing

    Partners (EFP) and the

    Interact Climate Change

    Facility (ICCF)

    the European Financing Partners (EFP) and the

    Interact Climate Change Facility (ICCF)

    n.a. 43 200 000 EURGrants,

    Guarantees

    RES,

    Energy

    Efficiency

    Sub-Saharan Africa

    26 EEP Energy and Environment

    Partnership South & East Africa

    n.a. Ministry of Foreign Affairs of Finland (lead donor),

    The Austrian Development Agency (ADA) and

    the UK DFID

    100 000 1 000 000 Grant RES - Solar

    (both PV and

    thermal),

    RES -

    Biomass,

    Waste-to-

    energy,

    Energy

    Efficiency

    Botswana, Burundi, Kenya, Lesotho,

    Mozambique, Namibia, Rwanda,

    Seychelles, South Africa, Swaziland,

    Tanzania, Uganda, Zambia

    27 ElectriFI Electrification Finance Initiative EIB, EC, SE4All European Commission, and European DFIs as anchor

    investors - the fund will be open to additional

    investors

    1 000 000 EUR10 000 000 EURConvertible

    Grants,

    Equity, Debt

    RES Angola, Benin, Botswana, Burkina Faso,

    Burundi, Cameroon, Cape Verde, Central

    African Republic, Chad, Comoros,

    Democratic Republic of the Congo,

    Djibouti, Equatorial Guinea, Eritrea,

    Ethiopia, Gabon, Gambia, Ghana,

    Guinea, Guinea-Bissau, Ivory Coast,

    Kenya, Lesotho, Liberia, Madagascar,

    Malawi, Mali, Mauritania, Mauritius,

    Mozambique, Namibia, Niger, Nigeria,

    Republic of the Congo, Rwanda, Sao

    Tome and Principe, Senegal, Seychelles,

    Sierra Leone, Somalia, South Africa,

    South Sudan, Sudan, Swaziland,

    Tanzania, Togo, Uganda, Zambia,

    Zimbabwe

    28 ESMAP The Energy Sector Management

    Assistance Program

    World Bank World Bank n.a. n.a. Grant RES,

    Energy

    Efficiency

    Sub-Saharan Africa

    29 EU-AITF EU-Africa Infrastructure Trust

    Fund

    European Investment Bank European Commission, Austria, Belgium, Finland,

    France, Germany, Greece, Italy, Luxembourg,

    Netherlands, Portugal, Spain, United Kingdom

    280 000 33 600 000 Grant RES,

    Transmission

    /distribution

    Angola, Benin, Botswana, Burkina Faso,

    Burundi, Cameroon, Cap Verge, Central

    Africa Republic, Chad, Comoros, Congo

    (Brazzaville), Congo (Democratic

    Republic), Cte d'Ivoire, Djibouti,

    Equatorial Guinea, Eritrea, Ethiopia,

    Gabon, Gambia, Ghana, Guinea, Guinea-

    Bissau, Kenya, Lesotho, Liberia.

    Madagascar, Malawi, Mali, Mauritania,

    Mauritius, Mozambique, Namibia, Niger,

    Nigeria, Rwanda, Senegal, Seychelles,

    Sierra Leone, South Sudan, Sudan,

    Swaziland, So Tome and Prncipe,

    Tanzania, Togo, Uganda, Zambia,

    Zimbabwe

  • Analysis of renewable energy project preparation facilities in sub-Saharan africa

    Page | 36

    30 Evolution One

    Fund

    Evolution One Fund Inspired Evolution

    Investment

    CYANE HOLDINGS LTD, QUANTUM POWER, GEEREF,

    IFC, FINNFUND, SIFEM, NORFUND, AfDB, IDC, SCAF

    (investors of fund)

    10 000 000 20 000 000 Equity, Quasi

    Equity

    RES Ghana, Nigeria, Kenya, Ethiopia,

    Tanzania, Uganda, Namibia, Botswana,

    South Africa (30% exposure),

    Mozambique, The Gambia

    31 Finance and

    Competence

    Finance and Competence n.a. Programs n.a. n.a. Grants,

    equity, debt

    RES South, West and East Africa

    32 FIRST Facility for Investment in

    Renewable Small Transactions

    n.a. KfW, DBSA n.a. n.a. Grants, non-

    interest

    bearing loans

    RES South Africa

    33 GAP Green Africa Power PIDG Group PIDG, UK Departments for International Development

    (DFID) and Energy and Climate Change (DECC),

    Norwe.g.ian Ministry of Foreign Affairs

    5 000 000 GBP5 000 000 GBPDebt

    Mezzanine

    RES Angola, Benin, Botswana, Burkina Faso,

    Burundi, Cameroon, Cape Verde, Central

    African Republic, Chad, Comoros,

    Democratic Republic of the Congo,

    Djibouti, Equatorial Guinea, Eritrea,

    Ethiopia, Gabon, Gambia, Ghana,

    Guinea, Guinea-Bissau, Ivory Coast,

    Kenya, Lesotho, Liberia, Madagascar,

    Malawi, Mali, Mauritania, Mauritius,

    Mozambique, Namibia, Niger, Nigeria,

    Republic of the Congo, Rwanda, Sao

    Tome and Principe, Senegal, Seychelles,

    Sierra Leone, Somalia, South Africa,

    South Sudan, Sudan, Swaziland,

    Tanzania, Togo, Uganda, Zambia,

    Zimbabwe

    34 GCPF Global Climate Partnership Fund n.a. the Dutch development bank FMO, UK, Development

    Bank of Austria, responsAbility, International Finance

    Corporation (IFC), Denmark, KfW, Germany

    5 000 000 20 000 000 senior debt,

    mezzanine

    instruments,

    equity

    RES,

    Energy

    Efficiency

    Sub-Saharan Africa

    35 GEEF Green Energy Efficiency Fund n.a. The Industrial Development Corporation (IDC), the

    German

    Development Bank (KfW)

    1 000 000 Rand50 000 000 RandDebt RES,

    Energy

    Efficiency

    South Africa

    36 GEEREF Global Energy Efficiency and

    Renewable Energy Fund

    n.a. EU n.a. n.a. Equity RES,

    Energy

    Efficiency

    Angola, Benin, Botswana, Burkina Faso,

    Burundi, Cameroon, Cape Verde, Central

    African Republic, Chad, Comoros,

    Congo, Cte d'Ivoire, Democratic

    Republic of the Congo, Djibouti,

    Equatorial Guinea, Eritrea, Ethiopia,

    Gabon, Gambia, Georgia, Ghana, Guinea,

    Guinea-Bissau, Guyana, Indonesia,

    Kenya, Lesotho, Liberia, Madagascar,

    Malawi, Mali, Mauritania, Mauritius,

    Mozambique, Namibia, Niger, Nigeria,

    Rwanda, Sao Tome and Principe,

    Senegal, Sierra Leone, Somalia, South

    Africa, South Sudan, Sudan, Swaziland,

    Tanzania, Togo, Uganda, Zambia,

    Zimbabwe

  • Analysis of renewable energy project preparation facilities in sub-Saharan africa

    Page | 37

    37 GEF Global Environment Facility n.a. Asian Development Bank (ADB), African Development

    Bank (AFDB), Development Bank of Latin America

    (CAF), Conservation International (CI), Development

    Bank of Southern Africa (DBSA), European Bank for

    Reconstruction and Development (EBRD), Foreign

    Economic Cooperation Office - Ministry of

    Environmental Protection of China (FECO), Food and

    Agriculture Organization of the United Nations

    (FAO), Fundo Brasileiro para a Biodiversidade

    (FUNBIO), Inter-American Development Bank (IDB),

    International Fund for Agricultural Development

    (IFAD), International Union for Conservation of

    Nature (IUCN), United Nations Development

    Programme (UNDP), United Nations Environment

    Programme (UNEP), United Nations Industrial

    Development Organization (UNIDO), West African

    Development Bank (BOAD), World Bank Group (WBG),

    World Wildlife Fund U.S. (WWF)

    n.a. n.a. Grants RES,

    Energy

    Efficiency

    Sub-Saharan Africa

    38 Get FiT Global Energy Transfer Feed-in

    Tariffs for developing countries

    Deutsche Bank Deutsche Bank, KfW, Norway, DECC, DfID, EU AITF,

    Germany, World Bank

    n.a. n.a. Grant,

    equity, debt

    RES Angola, Benin, Botswana, Burkina Faso,

    Burundi, Cameroon, Cape Verde, Central

    African Republic, Chad, Comoros,

    Democratic Republic of the Congo,

    Djibouti, Equatorial Guinea, Eritrea,

    Ethiopia, Gabon, Gambia, Ghana,

    Guinea, Guinea-Bissau, Ivory Coast,

    Kenya, Lesotho, Liberia, Madagascar,

    Malawi, Mali, Mauritania, Mauritius,

    Mozambique, Namibia, Niger, Nigeria,

    Republic of the Congo, Rwanda, Sao

    Tome and Principe, Senegal, Seychelles,

    Sierra Leone, Somalia, South Africa,

    South Sudan, Sudan, Swaziland,

    Tanzania, Togo, Uganda, Zambia,

    Zimbabwe

    39 GIF Global Innovation Fund n.a. the Department of International Development in the

    UK, the United States Agency for International

    Development, the Omidyar Network, the Swedish

    International Development Cooperation Agency and

    the Department for Foreign Affairs and Trade in

    Australia

    50 000 15 000 000 Grants,

    equity, debt

    n.a. Angola, Benin, Botswana, Burkina Faso,

    Burundi, Cameroon, Cape Verde, Central

    African Republic, Chad, Comoros,

    Democratic Republic of the Congo,

    Djibouti, Equatorial Guinea, Eritrea,

    Ethiopia, Gabon, Gambia, Ghana,

    Guinea, Guinea-Bissau, Ivory Coast,

    Kenya, Lesotho, Liberia, Madagascar,

    Malawi, Mali, Mauritania, Mauritius,

    Mozambique, Namibia, Niger, Nigeria,

    Republic of the Congo, Rwanda, Sao

    Tome and Principe, Senegal, Seychelles,

    Sierra Leone, Somalia, South Africa,

    South Sudan, Sudan, Swaziland,

    Tanzania, Togo, Uganda, Zambia,

    Zimbabwe

  • Analysis of renewable energy project preparation facilities in sub-Saharan africa

    Page | 38

    40 GPOBA Global Partnership on Output-

    Based Aid (GPOBA)

    World Bank Established by UK Department for International

    Development and the World Bank. Its other donors

    are the IFC, the Netherlands (DGIS), Australia

    (AusAID), and Sweden (Sida).

    25 000 500 000 Grant RES,

    Transmission

    /distribution

    Algeria, Angola, Benin, Botswana,

    Burkina Faso, Burundi, Cameroon, Cape

    Verde, Central African Republic, Chad,

    Comoros, Congo-Brazzaville, Cte

    d'Ivoire, Democratic Republic of Congo,

    Djibouti, Egypt, Equatorial Guinea,

    Eritrea, Ethiopia, Gabon, Gambia,

    Ghana, Guinea, Guinea-Bissau, Kenya,

    Lesotho, Liberia, Madagascar, Malawi,

    Mali, Mauritania, Mauritius, Mozambique,

    Namibia, Niger, Nigeria, Rwanda,

    Senegal, Seychelles, Sierra Leone,

    Somalia, South Africa, Sudan,

    Swaziland, Sao Tome and Principe ,

    Tanzania, Togo, Tunisia, Uganda,

    Zambia, Zimbabwe

    41 GuarantCo GuarantCo PIDG Group Governments (UK, NL, Swiss) KfW, FMO, SBSA,

    Standard Charter

    10 000 000 40 000 000 Guarantee RES Angola, Benin, Botswana, Burkina Faso,

    Burundi, Cameroon, Cape Verde, Central

    African Republic, Chad, Comoros,

    Democratic Republic of the Congo,

    Djibouti, Equatorial Guinea, Eritrea,

    Ethiopia, Gabon, Gambia, Ghana,

    Guinea, Guinea-Bissau, Ivory Coast,

    Kenya, Lesotho, Liberia, Madagascar,

    Malawi, Mali, Mauritania, Mauritius,

    Mozambique, Namibia, Niger, Nigeria,

    Republic of the Congo, Rwanda, Sao

    Tome and Principe, Senegal, Seychelles,

    Sierra Leone, Somalia, South Africa,

    South Sudan, Sudan, Swaziland,

    Tanzania, Togo, Uganda, Zambia,

    Zimbabwe

    42 GVEP Global Village Energy Partnership n.a. Barclays, DFID, DGIS, EU, Garfield Weston

    Foundation, IDB, OFID, Sida, USAID, Vitol

    Foundation, World Bank, EEP Africa, Rotary Club, UN

    Foundation, ENERGIA

    n.a. n.a. n.a. RES Angola, Benin, Botswana, Burkina Faso,

    Burundi, Cameroon, Cape Verde, Central

    African Republic, Chad, Comoros,

    Democratic Republic of the Congo,

    Djibouti, Equatorial Guinea, Eritrea,

    Ethiopia, Gabon, Gambia, Ghana,

    Guinea, Guinea-Bissau, Ivory Coast,

    Kenya, Lesotho, Liberia, Madagascar,

    Malawi, Mali, Mauritania, Mauritius,

    Mozambique, Namibia, Niger, Nigeria,

    Republic of the Congo, Rwanda, Sao

    Tome and Principe, Senegal, Seychelles,

    Sierra Leone, Somalia, South Africa,

    South Sudan, Sudan, Swaziland,

    Tanzania, Togo, Uganda, Zambia,

    Zimbabwe

  • Analysis of renewable energy project preparation facilities in sub-Saharan africa

    Page | 39

    43 ICF-DP Infrastructure Crisis Facility

    Debt Pool

    Cordiant, Facility of PIDG The German development bank KfW, AFD, AfDB,

    As

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