Renewable Energy Enterprise Development - Seed Capital Access Facility

Project Summary

Provides "patient" seed capital and enterprise development/assistance services to small rural enterprises engaging in providing energy services based on renewable energy. Enterprises’ services are for both household systems and productive uses (income generating activities). Project removes key barriers preventing new or existing enterprises from expanding their services with renewable energy. This approach has been successfully demonstrated over several years by E&Co of the U.S. in particular. This project builds on the E&Co model and on the existing “REED” (Renewable Energy Enterprise Development) initiatives by UNEP underway in Africa and starting in Brazil, funded through UN Foundation. Total project $23 m., GEF $8 m., bilateral agencies and banks $10 m., enterprise co-investments $5 m.

Project Details

GEF Project ID
1609
Project Type
Full-size Project
Status
Completed
Country
Global
Region
Focal Areas
Funding Source
GEF Trust Fund
Implementing Agencies
United Nations Environment Programme
Executing Agencies
United Nations Evironment Programme/Division of Technology Industry and Economics
GEF Period:
GEF - 3
Approval Fiscal Year:
2005

Financials

Project Preparation Grant Amount
300,000 USD
GEF Project Grant
8,400,000 USD
Co-financing Total
54,620,000 USD
GEF Agency Fees
480,000 USD
Total Cost 63,320,000.00 USD

Project Timeline

Received by GEF
16 May 2003
Preparation Grant Approved
18 Jun 2003
Concept Approved
01 Jun 2005
Project Approved for Implementation
31 May 2007
Project closed
31 Dec 2014