Schneider Electric Energy Access Asia (SEEAA)
- Country
- Asia Pacific
- Technology
- Multiple
- Business model
- Minigrid
Schneider Electric, with the support of Norfund, EDFI ElectriFIi and Amundi, laucnhed their new impact fund Schneider Electric Energy Access Asia (SEEAA). The fund aims to reach 350 million people in South and South East Asia and connect rural households, small businesses and collective services such as schools or health stations to electricity.
Contract signature date: December 2019
Countries: India, Bangladesh, Myanmar, Philippines, Cambodia
Total ElectriFI Financing: 6.3m EUR
Environmental and Social Category: FI-B
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk
Project overview: Schneider Electric Energy Access Asia (SEEAA), an impact investment facility dedicated to support Asia-Pacific early stage companies in the off-grid energy access space. SEEAA is managed by Schneider Electric and aims at investing across the value chain, targeting companies active in manufacturing and distribution activities in both SHS and mini-grid space.
Funding objective and impact: Through SEEAA, ElectriFI will provide the much needed early-stage investment capital to companies active in the access to energy space in Asia-Pacific. Contributing to SEEAA, ElectriFI will help connect more than 1m people to reliable and affordable electricity supply and avoid some 150 thousand of CO2 emissions annually.
Environmental and social rationale: The expected portfolio of SEEAA will largely be comprised of business activities that have limited adverse environmental and social risks and impacts that are few, site specific, largely reversible and can be readily addressed through mitigation measures.
The Fund has developed an ESMS that outlines the procedures, responsibilities and tools for undertaking E&S risk management of its investment activities in line with the industry best international practices.
IFC PSs 1 to 4 could be triggered over the investments’ life cycle and expected portfolio.
- Number of beneficiaries
- 2,300,000
- Annual output (MWh/y)
- 14,571
- GHG avoidance (tCO2eq/ y)
- 111,,è'&
Impact
- Beneficiary
- Schneider Electric Energy Access Asia (SEEAA)
- Financing instrument
- Equity
- Amount
- EUR 6,3 million
- Countries
- India, Bangladesh, Myanmar, Philippines, Cambodia
- Technology
- Multiple
- Busines model
- Intermediated investment
- Year
- 2019
- Facility
- ElectriFI global