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At the end of December 2023, OeEB signed an investment of USD 10 million in the SIMA Commercial & Industrial Solar Green Bond. The fund focuses on financing renewable energy solutions for commercial and industrial customers in Africa.

Project Name SIMA Commercial & Industrial Solar Green Bond B. V. (“SIMA C&I”)
Region Sub-Saharan Africa
Sector Energy / Resource Efficiency / Infrastructure
Service Investment Finance
OeEB Project Volume USD 10 million
International Climate Finance according to UNFCCC Yes
Additionality Financial Additionality
Project Partners i. a. IFC, DFC, FMO, DEG, BIO

 

The SIMA C&I fund is a structured debt fund which will finance small-scale renewable energy solutions with an installed capacity of under 5 MWp and a focus on solar projects for commercial and industrial clients along the value chain in Africa. The fund will provide  short-term as well as long-term (project) financing to these companies.

The target size of the fund is USD 150 million, which could finance the construction of around 220 MWp of renewable energy capacity in Africa.

The financing is in line with OeEB’s geographical focus (Africa and LDCs) and our strategic focus: renewable energy. Furthermore, the investment contributes to the strategic cross-cutting theme:  climate change mitigation and is expected to be 100% climate-creditable.