Access To Energy Fund

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Access to energy fund.

The access to energy fund aef has invested in several off grid solar companies to which this code is relevant. In 2019 the access to energy fund has signed off an impressive number of 10 new investments totaling to eur 48 million. The fund is dedicated to providing debt financing to fast growing companies which promote access to decentralized modern energy solutions primarily in africa and asia. Kenya uganda tanzania and rwanda but it is open to considering projects from other sub saharan countries.

Alternative energy equity mutual funds provide investors with professionally managed exposure to many companies involved in various clean energy related business activities such as solar hydrogen. The projects submitted funding applications from 25 000 to 100 000. And up to 50 of the total for for profit entities. The market for off grid energy and lighting is expected to grow into a us 50 billion market per annum in the long term.

The access to energy fund is jointly initiated by the dutch government and fmo in 2007 to support private sector projects aimed at providing long term access to energy services in developing countries. Coordinated by the energy access action network a coalition of leading companies investors industry associations and sector support providers from across the off grid sector. The fund will assume project costs. Energy access fund approximately 789 million people still lack access to electricity and about 3 billion people rely on wood charcoal crop waste and coal for cooking and heating based.

Focusing solely on renewable energy the fund supports energy generation transmission and distribution projects promoting energy solutions. Up to 75 of the total for nonprofit entities. Access to energy is a requisite to elevating living conditions and allowing for development and expansion of economic activities in rural africa. The responsabilty energy access fund provides working capital to manufacturers and distributors of modern energy products to accelerate their growth and scale of impact.

In a recent investment aef supported d light with usd 7 mln in equity alongside the infrastructure development fund idf which invested usd 3 mln and norfund swedfund and inspired evolution which invested another usd 30 mln. Access to clean affordable and reliable energy is vital for social and economic development and to power sustainable growth. The covid 19 energy access response aims to maintain the sector s progress in bringing energy to all.