The Electrification Financing Initiative (ElectriFI) is a blending facility funded by the European Union and managed by the EDFI Management Company. ElectriFI aims to unlock, accelerate and leverage private sector investment to increase or improve access to affordable, reliable, sustainable and modern energy in developing countries.
EDFI ElectriFI aims to accelerate the development of businesses providing access to clean energy to hundreds of millions of people by 2030. ElectriFI’s unique business model relies on EU funding so that it can invest in local markets in poorer economies and fragile situations. By combining technical assistance and risk capital, EDFI ElectriFI can take greater risks than other investors. EDFI ElectriFI’s activities de-risk investments and allow private investors and development finance institutions to deploy capital that they could not have invested otherwise.
A collaborative approach to building markets through partnerships
EDFI ElectriFI Is managed by FMO who has sub-delegated implementation to EDFI MC, a subsidiary of EDFI, the Association of European Development Finance Institutions. The facility is funded by the European Union, Power Africa, Sweden and Italy. Total size of the ElectriFI facility is 253 million euros earmarked as follows:
- Global window: A budget of EUR 126 million made available for all emerging markets, including additional support from Power Africa (USD 10 million targeted at Sub-Saharan Africa), Italy (EUR 5 million) and Sweden (EUR 5 million).
- Country windows: developed in partnership with EU Delegations and host governments, ElectriFI Country Windows offer offering dedicated funding for selected countries.
Country Windows are established in close collaboration with EU delegations and with the support of national governments. The first set of Country Windows (launched in 2018) was allocated to Zambia (EUR 31m), Nigeria (EUR 30m), Côte d’Ivoire (EUR 10m), Benin (EUR 5m) and Pacific (EUR 8m). The second set of Country Windows (contracted at the end of 2020) will deploy specific funding for Kenya (EUR 24.7m), Burundi (EUR 9.3m), Eswatini (EUR 5m) and Uganda (EUR 5m).
EDFI ElectriFI annual report 2020
More information on www.electrifi.eu