Finance Facility to Catalyze Energy Access Clean Energy Microgrids via Public-Private Partnerships
This first-of-its-kind energy access financing facility seeks to mobilize ~$50 million between 2018-2020 to expand energy access to communities that currently lack reliable access to modern energy services in India, Indonesia and East Africa. Supporting organizations include founding partners Allotrope Partners, Facebook and Microsoft, and implementing partners cKers Finance in India, CrossBoundary Energy in Africa, California Clean Energy Fund (CalCEF), Electric Capital Management, Morrison & Foerster LLP, and GivePower.
“MIA will test the commercial opportunity for microgrids and demonstrate how concessionary finance can unlock progressively larger proportions of private capital as risks are discovered, priced, and mitigated. With innovative financing and partnership models, the MIA facility will unlock the resources needed to scale microgrid solutions to achieve our shared energy access and economic development goals,” said Alexia Kelly, the new Chief Executive Officer of the MIA facility.