Approval Date: April 2017
Starting Date: 3rd Quarter of 2017
Ending Date: 4th Quarter of 2033
Executing Entity:GEEREF NeXt (direct), Specialised funds selected by European Investment Bank (EIB) Group (indirect)
Total Funding Amount:$765 Million USD
GEEREF NeXt is a fund of funds that builds on the achievement of its predecessor fund, the Global Energy Efficiency and Renewable Energy Fund (GEEREF), aiming to be a first investor in renewable energy/energy efficiency (RE/EE) investment funds and encourage other investors to co-invest. GEEREF NeXt offers a wide diversification of capital across different projects and technologies in developing countries to risk-averse private investors. Catalysed by USD 265 million from the Green Climate Fund, it is anticipated that GEEREF NeXt will finance more than 200 RE/EE projects across many GCF eligible countries including Grenada. Additionally, it will build local capacity and contribute to knowledge and technology transfer.