Sustainable Energy For All Universal Energy Facility

Country / jurisdiction: Sierra Leone · Year: 2020 · Status: In force · Level: International · Type: Voluntary

With Sustainable Energy for All (SEforALL) serving as programme manager, the Universal Energy Facility (UEF) was launched as a results-based financing facility to provide incentive payments to qualified organisations for deploying clean energy solutions and providing verified end-user energy connections (including mini-grids and solar systems). Developed with a coalition of donors and partners, early design work of the UEF included input from private sector mini-grid developers and industry associations looking to design an alternative option to tendering processes for renewable mini-grids. Results-based financing has become a proven, viable alternative to traditional procurement approaches for energy projects to deliver connections faster and more efficiently. It also allows governments and donors to shift the risk of delivery to the private sector and provides more certainty to industry about financial support needed. The UEF is designed to rapidly connect households, businesses and public institutions to new clean and affordable decentralised energy, working in high-impact countries with significant gaps in access to reliable energy. The aim is to build up the UEF to a USD 500 million facility that will provide more than 1.3 million new electricity connections to more than 6.37 million people, directly mitigating 4.8 Mt CO2e of greenhouse gas emissions.

Official source: https://www.seforall.org/results-based-financing/universal-energy-facility/