RESPONSABILITY ACCESS TO CLEAN POWE
Status: Approved investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
The repeat transaction concerns the increase of commitments to the responsAbility Energy Access Fund, to be reorganized as the responsAbility Access to Clean Power Fund (ACPF). The objective of this debt fund is the financing of household-level energy access (e.g. solar home systems) as well as commercial & industrial application of off-grid solar energy solutions. The Fund will be managed by responsAbility Investments AG, an asset manager in the field of development investments.
What is our funding objective?
The Fund aims to tap into a growing and financially underserved market, mostly in Sub-Saharan Africa and South & Southeast Asia, by providing debt and mezzanine financing directly to companies providing renewable energy and energy efficiency solutions that range from off-grid systems to captive generation, generally defined as distributed generation.
Why do we fund this investment?
The Fund is highly aligned with FMO’s strategy to support initiatives in the off-grid solar segment globally. Through its financing, the Fund aims to contribute to a positive economic, social and environmental impact, while providing a reasonable market-based financial return.
What is the Environmental and Social categorization rationale?
This transaction is labelled as E&S risk category B, similar to the classification of other off-grid and renewable energy debt funds in FMO’s portfolio. Considering the envisaged loan portfolio of the Fund, the majority of potential projects are expected to be classified as ‘category C’ according to the IFC risk categorization (‘low E&S risk’), with only very few expected to be classified as category B (‘medium E&S risk’).
More investments
| Date | Total FMO financing |
|---|---|
| 12/29/2020 | USD 7.80 MLN |
| 8/24/2015 | USD 7.80 MLN |
- Website customer/investment
- http://www.responsability.com
- Country
- Global
- Sector
- Energy
- Effective date
- 6/28/2019
- Total FMO financing
- USD 14.70 MLN
- Funding
- FMO NV
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Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B