{"id":6516,"date":"2023-04-18T11:37:05","date_gmt":"2023-04-18T09:37:05","guid":{"rendered":"https:\/\/norfund.wpenginepowered.com\/annualreport-2022\/?page_id=6516"},"modified":"2023-05-24T12:48:39","modified_gmt":"2023-05-24T10:48:39","slug":"increased-energy-access-and-supply","status":"publish","type":"page","link":"https:\/\/reports.norfund.no\/annualreport-2022\/development-mandate\/impact-development-mandate\/increased-energy-access-and-supply\/","title":{"rendered":"Increased energy access and supply"},"content":{"rendered":"\n

Access to energy is a fundamental requirement for economic growth, job opportunities, and enhanced living standards in developing countries. Transitioning to a renewable energy system is essential for combating the climate crisis and ensuring a more sustainable future for the world.<\/p>\n\n\n\n

\n
\n

<\/h3>
1,415<\/span> MW<\/span><\/div>

100% renewable new capacity financed<\/p><\/div>\n<\/div>\n\n\n\n

\n

<\/h3>
1.8<\/span> million<\/span><\/div>

households granted with access to electricity through micro\/mini-grid or solar-home systems<\/p><\/div>\n<\/div>\n<\/div>\n\n\n\n

\n

Read about our development rationale<\/h3><\/div><\/div><\/div><\/a><\/div>\n<\/div><\/div>\n\n\n\n

Norfund\u2019s impact objectives<\/h2>\n\n\n\n

Norfund\u2019s impact objective for our renewable energy investments under the development mandate is threefold:<\/p>\n\n\n\n

  1. Increasing the supply of energy<\/li>
  2. Increasing the share of energy from renewable sources<\/li>
  3. Increasing access to energy<\/li><\/ol>\n\n\n\n

    Doing so leads to economic growth, job creation and improved living standards, while mitigating climate change.<\/p>\n\n\n\n

    Results 2022<\/h2>\n\n\n\n

    Increased energy supply<\/strong><\/h3>\n\n\n\n

    In 2022, Norfund financed 1,415 MW of new electricity generation capacity including on-grid (IPP) projects and commercial & industrial (C&I) projects. The total capacity in our portfolio was 6,593 MW, of which 1,696 MW was under construction.<\/p>\n\n\n\n

    <\/h3>
    \n

    In 2022, the power plants produced a total of 15.9 TWh. This is almost equivalent to the combined annual electricity consumption of Kenya, Tanzania, and Uganda.<\/p>\n<\/div><\/div>\n\n\n\n

    Increased share of energy from renewable sources<\/strong><\/h3>\n\n\n\n

    In 2022, 100 percent of the new capacity financed was renewable. A total of 4,936 MW of the capacity in our portfolio is renewable. These companies produced 9.3 TWh in 2022.<\/p>\n\n\n\n

    <\/h3>
    4,936<\/span> MW<\/span><\/div>

    renewable capacity in Norfund’s portfolio<\/p><\/div>\n\n\n\n

    Increased access to energy<\/strong><\/h3>\n\n\n\n

    1,814,000 new households were provided with access to electricity through mini-grid solutions or solar home systems in 2022. This is a clear reduction from last year\u2019s record high 3.5 million, that was due to the performance of one of our renewable energy funds.<\/p>\n\n\n\n

    Additionally, 4.1 million units of smaller solar-powered solutions, such as lanterns, were sold to households in 2022. This is twice last year\u2019s sales.<\/p>\n\n\n\n

    According to our estimates on indirect job creation, around 467,000 jobs were supported by the electricity produced by the power plants in Norfund\u2019s portfolio in 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Access to energy is a fundamental requirement for economic growth, job opportunities, and enhanced living standards in developing countries. Transitioning to a renewable energy system is essential for combating the climate crisis and ensuring a more sustainable future for the world. Norfund\u2019s impact objectives Norfund\u2019s impact objective for our renewable energy investments under the development […]<\/p>\n","protected":false},"author":23,"featured_media":6949,"parent":6544,"menu_order":1,"comment_status":"closed","ping_status":"closed","template":"","meta":{"norfund_header_layout":"hero","norfund_header_layout_image_id":7436,"norfund_header_layout_image_focal_point_x":0.5,"norfund_header_layout_image_focal_point_y":0.5,"norfund_header_layout_suptitle":"","norfund_header_layout_subtitle":"Development Mandate","norfund_header_layout_title":"Increased energy access and supply","teft_cards_image_id":6949,"teft_cards_image_focal_point_x":0.5,"teft_cards_image_focal_point_y":0.5,"teft_cards_title":"","teft_cards_excerpt":""},"acf":[],"yoast_head":"\nIncreased energy access and supply | Annual Report 2022<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/reports.norfund.no\/annualreport-2022\/development-mandate\/impact-development-mandate\/increased-energy-access-and-supply\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Increased energy access and supply | Annual Report 2022\" \/>\n<meta property=\"og:description\" content=\"Access to energy is a fundamental requirement for economic growth, job opportunities, and enhanced living standards in developing countries. 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