The European Union through the 'Electrification Financing Initiative' announces the launch of the 2017 second ElectriFI Call for investment proposals.
The Electrification Financing Initiative or in short ElectriFI is an innovative facility supporting electrification investments. ElectriFI provides financial support primarily through risk capital/debt financing, either to corporate entities or to project special purpose vehicles.
ElectriFI investments are generally high risk with low or no collateral for which corresponding financial returns are expected.
A major barrier to investments in access to energy in developing countries is the lack of access to seed, mid- and long-term capital. The Electrification Financing Initiative (ElectriFI) was created as a financing scheme to bridge the gaps in structuring and financing, stimulating the private sector, and mobilizing financiers. Its mission is to grow viable businesses and projects that create new connections to affordable, reliable, and sustainable energy in developing and emerging markets.
For the second call for Investment Proposals, ElectriFI anticipates investments in private sector initiatives at an active development stage.
The maximum amount of any financing solution supplied by ElectriFI will be EUR 10 million (or USD/local currency equivalent). The minimum amount is EUR 500,000 (or USD/local currency equivalent). The maximum duration term of funding is 7 years.
Potential applicants are encouraged to access more information/submit their proposals through www.electrifi.eu
Deadline for submission of proposals is 08th March 2017.