Contracts CD 2024

Nithio Finance Inc. - €137,756 Development Contribution Grant

Nithio is an Artificial Intelligence-enabled energy financing platform whose mission is to standardize credit risk assessments and therefore drive more capital into the renewable energy sector. It does so by investing directly into off-grid solar companies. The fund is operational since 2021 and finances energy access companies in Sub-Saharan Africa (primarily PAYGO solar). FMO assisted Nithio to launch an innovative, data-driven Gender-Lens Financing window to incentivize solar companies to reach more female customers.

JCM Salima UK Ltd. - €39,861 Development Contribution Grant

FMO assisted JCM to assess how local ownership of renewable energy projects can serve as long-lasting sustainable impact in the host country. The consultant for this project is collecting best practices from emerging markets to identify how the use of e.g. trusts and other mechanisms to contribute to the goal of localizing ownership in the energy sector.

Scatec Ukraine - €101,500 Development Contribution Grant

Scatec Ukraine is a 54 MWp photovoltaic solar power project south of Kyiv and existing client of FMO (AEF). In 2024 AEF assisted with the development and implementation of a training program for women in Ukraine (see above). This capacity development project is designed to address the critical shortage of electro-technical specialists in Ukraine's energy sector due to the ongoing war. It supports gender equality, ensures business continuity, and addresses critical workforce shortages in Ukraine's energy sector.