responsAbility Launches New Technical Assistance Facility for Its Climate Finance Portfolio
Swiss impact asset manager responsAbility Investments today announced the launch of a $3 million Technical Assistance Facility linked to a responsAbility-managed climate finance fund targeting the financing gap in the effort to provide universal access to clean power in developing countries. Initial funding to the Facility is provided by Good Energies Foundation and the Swiss State Secretariat for Economic Affairs (SECO).
The recently launched $200 million private debt fund addresses the lack of access to clean power globally with a strong focus on Sub-Saharan Africa and South and Southeast Asia. Incorporated in Luxembourg as a 10-year closed-ended structure, the blended finance vehicle targets companies that provide solutions to households without access to electricity and to businesses looking for cleaner, cheaper and more-reliable energy. Over the lifetime of the Fund, portfolio companies are expected to provide clean power to more than 150 million people, add 2,000 MW of clean energy generation capacity and reduce CO2 emissions by six million tonnes.