The support of the GET.invest Finance Catalyst is available to applicants that meet the following criteria:
- Investment Size and Generation Capacity: Only projects and businesses with aggregated investments in the range of €250,000 to €70 million are eligible. For power generation projects a cumulative maximum generation capacity of 50 MW applies.
- Focus on renewable energy and energy efficiency: A major part of the proposed project or business must be a renewable energy system or energy efficiency equivalent, including energy storage, hydrogen and electrical appliances. Hybrid systems with a reasonable share of renewable generation capacity are also eligible. Clean cooking fuels (except for LPG) and appliances are also eligible.
- Business models: Business models need to aim at creating improved access to clean energy for end-users (consumers and businesses). Supported models may comprise electricity generation, electricity distribution (e.g. mini-grids and stand-alone systems), generation of mechanical energy and industrial / process heat or cooling, as well as hydrogen and energy storage projects. Also eligible are manufacturing and sales of clean cooking and electrical appliances for off-grid use. Moreover, manufacturing and sales of smart-data systems for energy use and grid management are eligible. Financial instruments such as PAYGo, leasing and investment funds are only eligible when developed for a concrete pool of projects (‚bundling‘). Electricity transmission projects or biofuels are not eligible.
- Revenue generating: Proposals must be conceptualised as revenue-generating and meet a minimum economic viability and sustainability threshold.
- Location: Applicants must be located in (or proceeds to be used in) sub-Saharan Africa, the Caribbean and/or the Pacific region.
- Focus on private sector: Eligible applicants may be private sector developers (local and international), NGOs, universities, parastatal companies, government or research institutions. Ultimately, projects will need to have a significant private-sector ownership (or equivalent) to allow for financing with debt or equity, possibly combined with other funding such as grants or public-sector contributions. Such private-sector engagement can be developed during the advisory support.
For applicants requesting accelerated Covid-19-related, the criteria outlined under Generation capacity and ticket size are substituted with the following minimum criteria:
- the equivalent of €100,000 of turnover over the past 12 months as a proxy to justify the allocation of individual coaches and the associated cost;
- a minimum of 5 staff employed (salary or results-based) as a proxy for the job impact of the crisis, and as an indicator for the cash needs of the company;
- the business can demonstrate it had a sustainable funding plan at the end of February until 1 May 2020 (i.e. no funding gap before 1 May 2020).