In June 2019, OeEB invested EUR 16.5 million in the Facility for Energy Inclusion (FEI). The aim of FEI is to contribute to improving energy supply and mitigating climate change by financing renewable energy projects in Africa. In August 2022, OeEB increased its funds by EUR 20 million and, made a further EUR 15 million available for FEI's off-grid window.
|Project name||Facility for Energy Inclusion (FEI)|
|Sector||Energy / Resource efficiency / Infrastructure|
|OeEB project volume||EUR 51.5 million|
|International climate finance according to UNFCCC||Yes|
|Project partner(s)||FEI - ONGRID LP and FEI-OGEF LP|
Through its investments in the Facility for Energy Inclusion (FEI), OeEB contributes to the financing of renewable energy projects in Africa. The aim of the investment fund is to create access to sustainable energy while at the same time reducing greenhouse gas emissions.
In addition to small and medium-sized power plants connected to the power grid (on-grid), decentralized energy solutions (off-grid) such as roof-top solar systems for generating electricity for companies' own consumption, solar home systems or mini-grid solutions are being supported.
In 2019, OeEB invested EUR 16.5 million in the FEI On-Grid Window for the first time and increased its investment by EUR 20 million in 2022. In addition, in 2022 OeEB invested a further EUR 15 million in FEI's off-grid window.