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AECF Renewable Energy and Adaptation to Climate Technologies Window

AECF Renewable Energy and Adaptation to Climate Technologies Window. Anjali Saini – Adviser, REACT funding window. Overview of the AECF. AECF is a fund of donor money available to the private sector on a competitive basis

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AECF Renewable Energy and Adaptation to Climate Technologies Window

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  1. AECF Renewable Energy and Adaptation to Climate Technologies Window AnjaliSaini – Adviser, REACT funding window

  2. Overview of the AECF AECF is a fund of donor money available to the private sector on a competitive basis AECF is a special partnership initiative of the Alliance for a Green Revolution in Africa (AGRA) AECF is funded by a multi-donor consortium (DFID, Dutch, IFAD, CGAP, AusAID etc). The donors form the Governing Council of the AECF It is managed by a KPMG led team (the Fund Manager). Initial capital was US$36m; now US$90m

  3. How the AECF works • AECF arranges and manages competitions for the private sector to compete for AECF funds • Each competition has its own eligibility and selection criteria • Competitions have strict start and end dates • Best bids are awarded grants and interest free loans to support their business ideas • Applicants must at least match funds requested from AECF

  4. What is the AECF REACT Window? • A special funding window for business ideas that are based on renewable energy and adaptation to climate technologies • Goal: to contribute to reducing rural poverty in sub-saharan Africa • Objective: to catalyse private sector investment and innovation in low cost, clean energy and climate change technologies

  5. Commercially motivated and innovative projects that impact on market systems Motivation Potential for systemic change Business-oriented Socially-motivated Innovation Company Region Conditions Field Springfield Centre | Making markets work

  6. Key Strands in REACT: • Increased access to low cost, clean energy for rural businesses & households • Products and services that help small-holder farmers adapt to climate change • Financial services that increase access to finance for low cost clean energy and climate resilient technologies or catalyse financial solutions • We are keeping broad definitions of the above, to “open the box” and see what innovations come through

  7. Project Examples Lighting Africa ILRI ILRI

  8. How much is available? • The competition is funded by UKaid (DFID) – US$15m • 1st round for East Africa Community countries (Burundi, Kenya, Rwanda, Tanzania, Uganda) – companies may be domiciled outside of the EAC, but project must be in one or more of the EAC countries • Application process went live on 1st November, 2010, window remains open up to 31st January, 2011 • We expect additional funds for REACT during 2011 – for East Africa and for other parts of Africa

  9. Eligibility Criteria • Same as for all AECF competitions (for profit private sector; trading track record; country specific focus etc); • Applications must be for new and innovative business ideas • Request range from US$250,000 to US$1.5m, companies must match the funding requested in cash & kind • Project must contribute to environmental sustainability, including climate change aspects

  10. Application Process • Same as for all AECF competitions: online; two stage process • We are at Stage 1 Stage 1 Stage 2

  11. Selection Criteria for Stage 1

  12. How much can I apply for? • Applications can be for a mixture of grants / loans • Minimum amount US$250,000 maximum amount US$1.5m Remember: • You must at least match the amount requested • We are also looking for leverage – scores a better mark • Applications for a higher % of loan compared to grant – scores a better mark

  13. How do I apply? • Go to www.aecfafrica.org • Online application process – companies must register first • Download the guidance notes – essential for completing application form • Online application form or PDF version • Extra information (attachments etc) will not be read

  14. The Future • Approx 589 million people in Africa lack access to electricity. This is projected to grow to 700 million by 2030. Over 70% are the rural poor. • We believe that business innovation has the potential to reach these people in ways that grid extension will never be able to do…. • ….think mobile money transfer and mobile banking! • The case for additional investment into REACT for Africa is stronger than ever. Next: a South African REACT window? A continent wide window?

  15. Visit our website www.aecfafrica.org • General enquiries: info@aecfafrica.org • AECF Director: Hugh Scott hugh.scott@aecfafrica.org • REACT Advisor: Anjali Saini anjali.saini@aecfafrica.org

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