Solar Mini-Grid Developers

Solar Mini-Grid Developers

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Solar Mini-Grid Developers
Solar Mini-Grid Developers
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SectorMost major industry classification systems use sources of revenue as their basis for classifying companies into specific sectors, subsectors and industries. In order to group like companies based on their sustainability-related risks and opportunities, SASB created the Sustainable Industry Classification System® (SICS®) and the classification of sectors, subsectors and industries in the SDG Investor Platform is based on SICS.
Renewable Resources and Alternative Energy
Alternative Energy
Business Model Description

Invest in the development of solar mini-grids for businesses, as well as in communities, and other public or private facilities, such as hospitals, also known as Distributed Energy Service Company (DESCO). A mini-grid is defined as a set of small-scale electricity generators and possibly energy storage systems interconnected to a distribution network that supplies electricity to a small, localised group of customers and operates independently from the national transmission grid. They range in a size from a few kilowatts up to 10 megawatts (12). While mini-grid energy generation technologies can include diesel generators as well as renewable sources, the business model specifically focuses on solar technology.

Expected Impact

Tackle energy poverty among those who do not have access to electricity, eliminate disruption to businesses from unreliable grid connection, while contributing to reduction of CO2 by replacing unsustainable sources of energy.

How is this information gathered?
Updated: 27 Nov, 2023
Sierra Leone
Indicative ReturnDescribes the rate of growth an investment is expected to generate within the IOA. The indicative return is identified for the IOA by establishing its Internal Rate of Return (IRR), Return of Investment (ROI) or Gross Profit Margin (GPM).
10% - 15% (in IRR)
Investment TimeframeDescribes the time period in which the IOA will pay-back the invested resources. The estimate is based on asset expected lifetime as the IOA will start generating accumulated positive cash-flows.
Long Term (10+ years)
Market SizeDescribes the value of potential addressable market of the IOA. The market size is identified for the IOA by establishing the value in USD, identifying the Compound Annual Growth Rate (CAGR) or providing a numeric unit critical to the IOA.
< USD 50 million
Average Ticket Size (USD)Describes the USD amount for a typical investment required in the IOA.
USD 1 million - USD 10 million
Direct ImpactDescribes the primary SDG(s) the IOA addresses.
Affordable and Clean Energy (SDG 7) Reduced Inequalities (SDG 10) No Poverty (SDG 1)
Indirect ImpactDescribes the secondary SDG(s) the IOA addresses.
Decent Work and Economic Growth (SDG 8) Sustainable Cities and Communities (SDG 11) Climate Action (SDG 13)

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Sector Sources
  • 1) Sustainable Development Report. SDG Index. 2022. https://dashboards.sdgindex.org/profiles/sierra-leone 2) University of Notre Dame. ND-GAIN Index. Accessed from: https://gain.nd.edu/our-work/country-index/rankings/ 3) GoSL. 2021. Updated Nationally Determined Contribution (NDC). Accessed from: https://unfccc.int/sites/default/files/NDC/2022-06/210804%202125%20SL%20NDC%20%281%29.pdf 4) GoSL. 2019. Sierra Leone’s Medium-Term National Development Plan 2019 - 2023. https://www.slurc.org/uploads/1/0/9/7/109761391/sierra_leone_national_development_plan.pdf 5) GoSL. 2015. National Energy Efficiency Action Plan of the Republic of Sierra Leone. http://www.se4all.ecreee.org/sites/default/files/ll.sierra_leone.neeap.05.2016.pdf 6) European Commission. Gender Action Plan III - 2021-2025. Country Level Implementation Plan - CLIP Sierra Leone. https://europa.eu/capacity4dev/file/126307/download?token=CmrdU3W8 7) World Bank. Data. Access to electricity, rural (% of rural population) - Sierra Leone. https://data.worldbank.org/indicator/EG.ELC.ACCS.RU.ZS?locations=SL 8) GoSl. 2016. Renewable Energy Policy of Sierra Leone. http://www.energy.gov.sl/PR_Renewable%20Energy%20policy%20of%20SL_FINAL%20for%20Print.pdf 9) GOGLA. Sierra Leone Country Brief. 2022. https://www.gogla.org/sites/default/files/resource_docs/sierra_leone_country_brief.pdf 10) James Ryan Hogarth & Ilmi Granoff. ODI. Power generation alone won’t deliver energy to Africa’s poor. https://odi.org/en/insights/power-generation-alone-wont-deliver-energy-to-africas-poor/ 11) UNESCO. 2020. Republic of Sierra Leone: Education sector analysis: assessing the enabling environment for gender equality. https://unesdoc.unesco.org/ark:/48223/pf0000375434
IOA Sources
  • 12) AfDB. Green Min-Grid Help Desk. https://greenminigrid.afdb.org/how-it-works/help-desk-developers-and-operators/introduction-mini-grids 13) FLS Group. http://www.flsgroup.sl/ 14) Powergen. https://www.powergen-renewable-energy.com/ 15) InfraCo Africa. Sierra Leone: Sierra Leone Mini-grid Project I & II. https://infracoafrica.com/project/sierra-leone-mini-grid-project/ 16) Energicity. https://energicitycorp.com/ 17) Sustainable Energy Fund for Africa (SEFA). 2019. Mini-Grid Market Opportunity Assessment: Sierra Leone. https://greenminigrid.afdb.org/sites/default/files/sierra_leone_gmg_final_report.pdf 18) CrossBoundary. December 2020. Open Sourcing Infrastructure Finance for Mini-Grids. https://www.crossboundary.com/wp-content/uploads/2020/12/Project-Financing-Mini-Grids-Online_Pages.pdf 19) Wood Mackenzie. 11 March 2020. Foresight 20/20: Off-grid renewables. https://www.woodmac.com/our-expertise/focus/Power--Renewables/off-grid-20) renewables-2020s/thank-you/ 20) IEA. SDG7: Data and Projections - Access to electricity. https://www.iea.org/reports/sdg7-data-and-projections/access-to-electricity 21) AECF. 2020. Scaling Up Mini-Grids for Rural Electrification. https://www.aecfafrica.org/wp-content/uploads/2021/12/AECF-Scaling-up-mini-grids-18-Nov-2020.pdf 22) World Bank. 26 February 2023. Press release - Solar Mini Grids Could Sustainably Power 380 million People in Africa by 2030 – if Action is Taken Now. https://www.worldbank.org/en/news/press-release/2023/02/26/solar-mini-grids-could-sustainably-power-380-million-people-in-afe-africa-by-2030-if-action-is-taken-now 23) Energy & Environmental Partnership (EEP) Trust Fund. 2018. Opportunities and Challenges in the Mini-grid Sector in Africa. https://eepafrica.org/wp-content/uploads/2019/11/EEP_MiniGrids_Study_DigitalVersion.pdf 24) CrosssBoundary. September 2022. Mini Grid Innovation Lab. Innovation Insight. https://www.crossboundary.com/wp-content/uploads/dlm_uploads/2022/09/CrossBoundary-Innovation-Lab-Tariff-Reduction-Innovation-Insight-Sept-2022.pdf 25) UNOPS. 2022. Rural Renewable Energy Project in Sierra Leone: Impact Evaluation Report. https://www.theigc.org/sites/default/files/2022/06/Levine-et-al.-Final-Report-2022.pdf 26) Sierra Leone Electricity & Water Regulatory Commission (SLEWRC). Electricity Tariff. https://ewrc.gov.sl/tariff/electricity-tariff/ 27) Lighting Global/ESMAP, GOGLA, Efficiency For Access, Open Capital Advisors. 2022. Off-Grid Solar Market Trends Report 2022: Outlook. https://documents1.worldbank.org/curated/en/099355110142233755/pdf/P17515005a7f550f1090130cf1b9f2b671e.pdf 28) ECREEE. SE4ALL Investment Prospectus for Sierra Leone. May 2017. https://www.se4all-africa.org/fileadmin/uploads/se4all/Documents/Country_IPs/Sierra_Leone_Investment_Prospectus.pdf 29) GoSL. National Energy Strategic Plan. 2009. http://www.ecowrex.org/system/files/repository/2009_energy_strategic_plan_-_min_ener.pdf 30) GoSL. Energy Efficiency Policy. 2016. http://www.energy.gov.sl/wp-content/uploads/2018/01/Energy-Efficiency-Policy-2nd-signed.pdf 31) African Power Platform. Renewable Energy Policy of Sierra Leone. https://www.africanpowerplatform.org/resources/reports/west-africa/sierra-leone/331-renewable-energy-policy-of-sierra-leone.html 32) Sustainable Energy for All. Increasing Energy Access in Sierra Leone. March 2021. https://www.seforall.org/publications/increasing-energy-access-in-sierra-leone 33) ENS. Africa Tax in Brief. https://www.ensafrica.com/news/detail/5283/africa-tax-in-brief- 34) Sierra Leone Electricity & Water Regulatory Commission (SLEWRC). 2019. Mini-Grid Regulations 2019. https://ewrc.gov.sl/mini-grid-regulations/ 35) Sustainable Energy for All. Understanding Mini-Grid Tariffs in Sierra Leone. https://www.seforall.org/system/files/2023-04/sierra-leone-tariffs-report-web.pdf 36) SLIEPA. Available incentives in Sierra Leone. https://www.sliepa.gov.sl/invest-in-sierra-leone/all-incentives 37) AfDB. Sustainable Energy Fund for Africa. https://www.afdb.org/en/topics-and-sectors/initiatives-partnerships/sustainable-energy-fund-for-africa 38) EEP Africa. https://eepafrica.org/