Performance Evaluation Final Report: Climate Technology Initiative Private Financing Advisory Network
This is the final performance evaluation report for the Private Financing Advisory Network (PFAN).
PFAN aims to help clean energy project developers access finance by giving them technical assistance and capacity building and by introducing them to investors. It has regional networks in Latin America, Africa, Asia and Eastern Europe as well as country-specific networks.
The evaluation found that it is a unique program and is expected to meet or exceed all performance targets. It compares favorably, it said, with similar projects and programs designed to lower barriers to clean energy investment.
So far, 49 projects have been matched with and funded by a financial institution, raising a total of $561.5 million. Another 255 projects are in the pipeline.
The one exception in terms of meeting a target is the percent of project developers reaching financial closure. This is because PFAN was still operating during the evaluation, in March 2015, and this deadline was September 2015.
The report issued a set of recommendations. Some included considering funding data collection and monitoring and evaluation and addressing remaining barriers within the clean energy business area.
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