Our projects> Clean energy promotion through microfinance in Ethiopia

Clean energy promotion through microfinance in Ethiopia

Closed
Mitigation
Energy
Financial services
Call 4
Ethiopia
Time consumed
 
Start: 05-Nov-14 End: 05-May-18
Lead Nordic partner
Gaia Consulting Oy
Country of Lead Nordic partner
Finland
Local partner(s)
Buusaa Gonofaa Microfinance SC, Harbu Micro Finance Institution Share Company, Specialized Financial & Promotional Institution (SFPI) , Swan Management Plc
Other partner(s)
MicroEnergy International GmbH
NCF grant size
325,900
Total project cost
535,979
Technologies
Solar photovoltaic systems
Methods
Financial instruments, Training
Country of implementation:
Ethiopia
Open in goole maps

Description

Strengthening resilient and inclusive green growth by advancing clean energy technologies through business development in the micro finance sector in Ethiopia.

The project proposed a leapfrogging financing mechanism for enabling access to high quality CET to provide energy access without a traditional grid connection. Since the project built the business mechanism upon existing infrastructures and steadily growing outreach of the microfinance sector, it was able to...
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Objective

The objective of the project was to promote inclusive green growth by stimulating private sector business development within the renewable energy and financial sectors. The project aimed to increase access to reliable and affordable clean energy technologies (CET) for low-income households and microenterprises in Ethiopia, contribute to the reduction of GHG emissions through improved energy efficiency and introduction of sustainable energy sources, and to raise...
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Results

The project initiated an innovative and replicable mechanism to finance clean energy technologies (CET) for households and small and middle size enterprises (SMEs) through a microcredit financing mechanism. During the project, a business concept was established for three Ethiopian microfinance institutions (MFIs), with a total of more than 200,000 existing clients. The business concept can be extended to other MFIs in Ethiopia as well as...
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Videos
Relevant links
Gaia Consulting Oy, Buusaa Gonofaa, MicroEnergy International GmbH, Specialized Financial and Promotional Institution (SFPI)

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The Nordic Climate Facility (NCF) is a challenge fund that finances innovative climate change projects.

CONTACT INFORMATION

P.O. Box 185

FIN-00171 Helsinki

Finland

Tel: +358 10 618 002

Fax: +358 9 622 1491

NordicClimateFacility@ndf.int

NCF is financed and managed by the Nordic Development Fund (NDF)