Companies seeking results-based finance for minigrid projects in Benin Republic can now apply for pre-qualification to the facility.
Pre-qualification for the Universal Energy Facility will close on 4 March 2021.
the Universal Energy Facility will disburse grant payments to deliver over 7,000 electricity connections based on a results-based incentive of $433 per connection.
The review of applications is expected to be completed by 19 April 2021
The Universal Energy Facility is a results-based financing facility managed by Sustainable Energy for All (SEforALL).
The Benin window of the facility is funded by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ).
The opening of the facility in Benin is the next step in SEforALL’s push for catalysing faster progress on Sustainable Development Goal 7 (SDG7) through results-based financing.
The Benin window falls under the facility’s first set of countries, where it focuses on accelerating electricity connections through mini-grids. By tackling one of the most challenging energy technologies in its first phase, the Universal Energy Facility will demonstrate the effectiveness of results-based financing for making energy projects viable. In October 2020, the facility opened to support minigrid projects in Sierra Leone and Madagascar.
Pre-qualification for the Universal Energy Facility in Benin will close on 4 March 2021. The review of applications is expected to be completed by 19 April 2021,