The Off Grid Electricity Fund was created by Haiti and the World Bank to encourage clean energy and support various schemes including small-scale electricity grids and solar PV installation.
An initial USD 17.2 million will be deployed over 10 years, with further plans for the fund’s future.
The Clean Technology Fund, a trust run by the World Bank, and the Scaling Up Renewable Energy in Low-Income Country Program (SREP), a low-income nation renewable scheme monitored by the Climate Investment Fund.
Allocation for projects will be overseen by Haiti’s Development Finance Institution, and the impact investor firm Bamboo Capital Partners.
The Fund’s first goals include increasing rural electrification by 5%, and support pay-as-you-go solar schemes.