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The DFC has launched a call for expressions of interest to finance green off-grid energy providers in developing countries.
- The DFC aims to support the electrification of 10 million people by 2025.
- As part of this call, the DFC will consider projects that provide energy solutions related to the Covid-19 response.
The U.S. Development Finance Corporation (DFC) has launched a call for expressions of interest to finance green off-grid energy providers in developing countries. Companies will receive financing for solutions that increase energy access. The call for expressions of interest is for micro and mini-grid providers, solar home systems and distributed energy generation.
This call is part of the DFC’s target of supporting the provision of electricity access to 10 million people by 2025. “The call for applications will allow us to identify private sector-led projects that need financing tools to increase access to reliable and affordable electricity in developing countries around the world,” noted David Marchick, DFC’s chief operating officer. This initiative is also supported by stakeholders in the African electrification process, including the Rockefeller Foundation and the Shell Foundation.
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Selected off-grid companies will receive up to $100 million from 2022. Companies can use the investment provided to expand their services, serve as working/growth capital.
The DFC will give special consideration to projects that provide energy solutions related to the Covid-19 response, such as projects that provide energy access to health facilities and promote women’s economic empowerment. DFC’s call for applications is part of the Power Africa initiative.
Companies interested in the DFC’s call for expressions of interest have until June 18th, 2021, to apply.