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SEFA approves grants to set up super energy service companies

Super ESCOs are vehicles for channelling funds into public sector energy efficiency investments. (Image source: AfDB)

The African Development Bank’s (AfDB) Sustainable Energy Fund for Africa (SEFA) has approved a technical assistance grant of US$5mn to implement the Africa Super Energy Service Companies (ESCO) acceleration programme in Rwanda, Senegal and South Africa

Super ESCOs are vehicles that channel funds into public sector energy efficiency investments such as hospitals, schools, and street lighting, paving the way for private investment. The acceleration programme will encourage private sector investments in energy efficiency by operationalising Super ESCOs, thus stimulating the transition toward more sustainable and greener economies.

The grant will support the training of a team to operate Super ESCOs and support private ESCOs in the three countries to develop their energy performance contract services. The funding will also underwrite the development of harmonised regional certification schemes for ESCOs and energy service professionals, including energy auditors, managers, and energy savings measurement and verification professionals.

Mohamed Chérif, AfDB Senegal country manager, commented, “Super ESCOs are an efficient tool that governments can draw on to leverage private sector resources to improve the energy efficiency of public facilities and other key energy-consuming sectors. I am pleased that Senegal will be one of the first countries to benefit from the Africa Super Energy Service Companies Acceleration Program.”