Investment Committee Approves a Portfolio of 32 New Grantees
A total of EUR 12.6 million has been allocated to clean energy companies in 12 countries in Southern and Eastern Africa. The new portfolio has a strong focus on productive use of energy projects, with significant representation of mobility initiatives as well.
The EEP Africa Investment Committee met at Nordic Development Fund (NDF) headquarters in Helsinki, Finland on 1-2 October 2024 to approve funding for projects submitted under the 2024 Call for Proposals. A total of EUR 12.6 million was committed to 32 new grantees from 12 countries.
The Investment Committee meets annually after a Call for Proposals is conducted and consists of at least three members, typically appointed by the donors to the fund. This year the Investment Committee was chaired by Isabel Leroux, Program Manager at the Nordic Development Fund (NDF), with additional members Marko Saarinen, Counsellor at the Ministry for Foreign Affairs of Finland (MFA Finland), Cyprien Hauser, Programme Manager at the Swiss Agency for Development and Cooperation (SDC) and Tanja Ustvedt, Senior Adviser in Section for Energy at Norad, the Norwegian Agency for Development Cooperation.
“Once again, a remarkable array of strong applications advanced through the EEP Africa selection stages, highlighting the vibrant growth and potential of the clean energy sector in Southern and Eastern Africa. The Investment Committee’s decisions were guided by key criteria, including innovation, the unique value of financial support, and the projects' potential for sustainable impact within local communities—closely aligned with the priorities of Swiss international cooperation. I extend my warmest wishes to the grantees for a successful project implementation and look forward to the valuable collaborations that will unfold with the EEP Africa team.” - Cyprien Hauser, Programme Manager at the Swiss Agency for Development and Cooperation (SDC)
This competitive call attracted 494 applications for projects in Southern and Eastern Africa. In line with the new selection process, 79 applicants were interviewed, and 38 project proposals were shortlisted and submitted full proposals.
“The recent EEP Africa call for proposals attracted an impressive number of high-quality applications, with successful projects representing nearly all eligible countries and, for the first time, Madagascar. The selected clean energy initiatives are both innovative and deeply aligned with local needs, with many also strengthened by international partnerships. We are thrilled to collaborate with these forward-thinking companies as they contribute to sustainable, climate-resilient growth and drive the energy sector transformation across Southern and Eastern Africa.” - Marko Saarinen, Counsellor at the Ministry for Foreign Affairs of Finland (MFA Finland)
Further insights and observations from this call for proposals will be published once contracting has been completed.
“This year’s EEP Africa Investment Committee had the privilege of reviewing a host of compelling and high-impact proposals. I am excited to see how EEP Africa’s support will serve as a catalyst, helping to bring scalable and impactful clean energy solutions and business models to communities across Southern and Eastern Africa.” - Isabel Leroux, Program Manager at the Nordic Development Fund (NDF)
The Energy and Environment Partnership Trust Fund (EEP Africa) is a clean energy financing facility hosted and managed by the Nordic Development Fund (NDF) with funding from Austria, Denmark, Finland, Iceland, NDF, Norway, and Switzerland. EEP Africa provides risk tolerant early-stage grant financing for locally driven innovative clean energy projects and businesses in Southern and Eastern Africa. Since 2010, EEP Africa has committed more than EUR 98 million to over 320 pioneering projects, creating over 12,400 jobs, improving energy access for more than 5 million people, and avoiding 1.8 million tonnes of CO2e.