Who we are

EDFI Management Company


Mandate

EDFI Management Company (EDFIMC) is an asset management company established in 2016 on behalf of EDFI’s members, as a full subsidiary of the EDFI Association in Brussels. It aims to supporting market development in new areas of financing and projects.

The mission of the EDFI Management Company is to deepen investment flows to priority areas by managing joint investment facilities on behalf of the European Commission, the EDFI members and potentially other funders of private sector projects on a highly efficient and financially self-sustaining basis.

EDFIMC currently manages delegated funding from the EU and launched the first call for proposals in 2016 for ElectriFI, a blended finance facility initiated by FMO, which seeks to be additional to the financing of DFIs and other funders. EDFIMC is not competing with DFIs’ investments but targeting companies/investments that can grow to become DFI clients. ElectriFI first client contract was signed in February 2017.

EDFIMC is structured in a way that will allow it to be used for other initiatives and roles in the future.

Governance

The EDFI Management Company is registered as a legal entity under the laws of Belgium.
It is a subsidiary fully owned and controlled by the EDFI Association (BIO, the Belgian DFI holds a 1% stake for legal reasons).

The strategic direction for the Management Company is set by EDFI on behalf of its members and is aligned with their interests. The Board of Directors of the Management Company consists of up to 7 members, is nominated by the Board of Directors of EDFI, and includes one EDFI Board Director. It is chaired by EDFI’s General Manager and carries out internal control based on regular reporting. Most board members are appointed at the investment executive level.

The Managing Director is responsible for the daily operations, overseeing programmes, and developing the company’s capacities and opportunities for new mandates.

Building on the collective knowledge and experience of EDFI members to develop EDFIMC business and support successful delivery is a key to its success. EDFIMC engages actively with EDFI members and shares its investment plans and opportunities for cooperation.

Board members

Yvonne Bakkum

Managing Director at FMO Investment Management

Amaury Mulliez

Deputy CEO - Chief Investment Officer at PROPARCO

Eric Van den Bosch

Senior Investment Officer at BIO

Markus Gabbert

General Counsel / Chief Compliance Officer DEG

Frederik van den Bosch

Managing Director EDFIMC

Søren Peter Andreasen

General Manager EDFI

Team

EDFI Management Company is based in Brussels. The daily operations are overseen by the Managing Director. He is assisted by a team of investment officers and support staff.

Frederik van den Bosch

Managing director

Dominiek Deconinck

Manager ElectriFI

Quentin Antoine

Senior Investment Officer

Géraldine Crosset

Senior Investment Officer

Hatem Mahbouli

Senior Investment Officer

Els Dalle

Office Manager

Gemma Verhoeven

Senior Investment Officer

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Funds under management

EDFIMC has been set up to manage delegated funding from the EU. EDFIMC has been mandated to run ElectriFI, a facility to support energy access, and is expected to receive further 3rd party mandates.

ElectriFI

The Electrification Financing Initiative (ElectriFI) is an innovative facility supporting electrification investments. It aims at accelerating access to electricity and modern energy services through intervention at the active development stage of a project. Initiated by FMO, the Dutch Entrepreneurial Development Bank, it is funded by the European Commission and managed by the EDFI Management Company. Power Africa has contributed an amount of USD10 million that will be used exclusively for electrification projects in Africa.

The current ElectriFI envelope exceeds €116 million. Approximately 15 % of this allocation is dedicated to a TA Unit which helps promoters for a period of up to 10 years. ElectriFI provides loans and equity and initially has a timeframe of 10 years, which could be extended if additional funding is secured.

ElectriFI supports renewable energy investments, with a focus on rural electrification, with a total budget above €0.5 million. At early project stages or during the pilot phase, the developer will be expected to provide part of the equity. The total amount contributed by ElectriFI will not exceed €10 million per project.

Eligibility Criteria

  • Geographical Coverage – The project host country must be included in a list of emerging markets, which can be found on www.electrifi.eu, with a focus on countries in Sub-Saharan Africa.
  • Sector – The ElectriFI mandate covers projects offering both on-grid and off-grid solutions. All renewable technologies (excluding first generation biofuels) are eligible. Combining renewable with conventional generation can be considered if indispensable for the stability of the energy produced.
  • Sustainability – Funding will only be directed to those projects undertaken by entities deemed capable of attaining financially sustainability.

More information on www.electrifi.eu

 

Finance