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.
|SIMA Commercial & Industrial Solar Green Bond B. V. (“SIMA C&I”)
|Energy / Resource Efficiency / Infrastructure
|OeEB Project Volume
|USD 10 million
|International Climate Finance according to UNFCCC
|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.