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Add to Preferred SourcesThe EEP Africa Innovation Window Investment Committee approved funding for projects submitted under the 2020 call for proposals on Clean Energy Powering Green Growth. This competitive call attracted 357 applications for projects in 14 countries in Southern and East Africa, with EUR 123 million in total financing requested. The new portfolio of 26 projects is projected to create 2,000 jobs and leverage additional clean energy investments of EUR 8.9 million in co-financing.
“In this year’s portfolio we saw innovative business models for well-defined target markets in the fields of circular economy and productive use of energy,” said NDF Program Manager and Investment Committee Chair, Aleksi Lumijärvi. “These are segments in which the business models need to be carefully tailored and efficient in order to be competitive. We are happy to see that many of the approved solutions are coming from local and women-led companies.”
The projects approved for financing encompass an exciting and diverse range of agricultural processing and waste-to-energy technologies, solar irrigation and cooling solutions, energy for water and fisheries, e-mobility, and other innovations. Most of the projects are in the pilot or demonstration stage, highlighting EEP Africa’s role as an early-stage financier willing to take risks on new technologies and business models.
Further insights from this call on clean energy market trends will be shared in EEP Africa’s upcoming Market Report 2020, to be published soon.
Original source: NDF