Electrification Financing Initiative

The Electrification Financing Initiative (ElectriFI) is an EU-funded blended finance facility that invests in renewable energy and electricity access companies across emerging markets. Managed by FMO and the EDFI Management Company on behalf of 15 European Development Finance Institutions, ElectriFI combines risk capital with technical assistance to support early-stage and small-sized energy projects that would otherwise struggle to attract traditional investment. ElectriFI has invested $38 million across four funding rounds between 2019 and 2024, with a strong geographic focus on Nigeria. The facility invests at multiple stages, from Series A to Series B, supporting companies in energy and utilities as well as climate finance technology. Notable portfolio companies include Arnergy, a modular solar power provider, and Nithio, which develops risk analytics for clean energy finance. ElectriFI's investments are designed to be additional to other sources of capital, leveraging private sector participation to accelerate clean energy access across Africa and the Pacific. As of 2020, ElectriFI had invested €70.5 million while leveraging an additional €280 million from co-investors, supporting 29 companies across 25 countries. The facility has contributed to avoiding 1,280 kilotonnes of CO2 emissions and reaching 32 million beneficiaries, with 75 percent of its portfolio located in sub-Saharan Africa.