The first call for proposal for our long announced and awaited financial instrument for rural electrification ElectriFI has been launched.
The Electrification Financing Initiative (ElectriFI) is an enabling facility supporting investments that provide access to affordable, reliable, sustainable, and modern energy in developing countries. The initiative was officially presented by the European Commissioner for International Cooperation and Development, Mr Neven Mimica, at COP21 in December 2015.
The initial amount of EUR 75 million contributed by the European Commission to ElectriFI, will be implemented by FMO (The Dutch Development Bank) jointly with the European Development Financiers Institutions (EDFI) Association of 15 European Development Banks, whereof the Portuguese Development Financial Institution (SOFID) is a member.
This initiative will co-finance renewable energy projects, namely private, in developing countries, with particular focus on rural electrification or in regions with poor access to energy.
All interested investors, financiers and project promoters are invited to participate to this first call, whilst additional application invitation rounds are also expected to be launched later in 2016. The deadline for the submission of proposals for this first call is the 6th May 2016.
ALER is available to support the contact with SOFID for those interested in applying for this call.
The documents of the call can be downloaded here and more information is available at the ElectriFi website. Also available for download here is the legal alert prepared by our Member Henriques, Rocha & Associados, a member of MLGTS Legal Circle.