Hospital Climate Finance Fellowship

Mobilizing Climate Finance for Solar and Battery Storage in Hospitals Across Africa and Asia

Financing the Future of Climate-Resilient Healthcare

Reliable electricity is essential to safe, effective, and uninterrupted healthcare. Yet hospitals across Africa and Asia continue to face unreliable electricity supplies, rising energy costs, and dependence on diesel generators.

According to estimates reported by the World Health Organization and its partners, nearly one billion people are served by healthcare facilities with unreliable or no electricity.

Solar photovoltaic systems combined with battery storage offer a practical opportunity to strengthen hospital energy resilience, reduce operating costs, and accelerate the transition toward cleaner healthcare infrastructure.

However, many technically feasible hospital renewable energy projects remain unimplemented because of limited access to affordable financing, insufficient investment preparation, fragmented project pipelines, and institutional barriers.

The Hospital Climate Finance Fellowship is an Africa-Asia collaborative learning and investment design initiative of the Social Finance Lab of the Asian School of Governance.

The fellowship brings together healthcare leaders, finance professionals, renewable energy specialists, policymakers, university researchers, and development partners to design innovative financing solutions for hospital solar and battery storage.

Its central mission is to help participating country teams develop Hospital Renewable Energy Impact Funds, tailored to their respective national contexts, capable of mobilizing capital and financing portfolios of hospital renewable energy projects.

Rather than treating hospital electrification as a series of isolated infrastructure investments, the fellowship explores how innovative social finance can support scalable, financially sustainable, and impactful hospital energy transitions.

Fellowship Objectives

The fellowship has three principal objectives:

1. Design country-specific Hospital Renewable Energy Impact Funds to mobilize investment capital for hospital solar photovoltaic and battery storage systems.

2. Develop investment-ready hospital renewable energy project pipelines through technical assessments, financial modeling, risk analysis, and collaborative project preparation.

3. Strengthen Africa-Asia collaboration in climate and health finance through collective learning, institutional partnerships, and the exchange of practical financing innovations.

What Makes This Fellowship Different?

The Hospital Climate Finance Fellowship is not primarily a technical training program on installing solar panels.

It is an applied climate finance and institutional innovation fellowship focused on translating hospital energy needs into financially viable investment opportunities.

Fellows work collaboratively to design financing mechanisms, prepare hospital investment portfolios, engage prospective investors, and develop practical pathways toward establishing country-specific investment funds.

The fellowship integrates five complementary approaches:

• Social Finance Innovation: Designing investment mechanisms that combine financial sustainability with measurable healthcare, climate, and social outcomes.

• Problem Driven Iterative Adaptation (PDIA): Addressing real financing and implementation barriers through iterative experimentation, stakeholder engagement, and practical problem-solving.

• Adaptive Leadership: Mobilizing diverse institutions to overcome technical, organizational, financial, and policy constraints.

• Collective Learning: Facilitating cross-country exchanges among fellows from Africa and Asia to accelerate innovation and share emerging practices.

• AI-Enabled Investment Design: Using artificial intelligence to support research, scenario analysis, financial modeling, project preparation, and collaborative knowledge development, with human review and validation.

Fellowship Components

The Hospital Climate Finance Fellowship is organized into five interconnected components combining applied learning, investment design, stakeholder collaboration, and practical implementation planning.

Each component produces concrete outputs that contribute to the development of a country-specific Hospital Renewable Energy Impact Fund.

Component 1. Understanding Hospital Energy Needs

Identifying opportunities for solar and battery storage investments in healthcare facilities.

Fellows investigate the energy requirements and operational challenges of hospitals and healthcare facilities to establish the technical and economic basis for investment.

Activities include:

• Assessing hospital electricity demand and critical medical loads.

• Reviewing electricity reliability, outage patterns, and diesel generator dependence.

• Identifying opportunities for solar photovoltaic systems and battery storage.

• Estimating potential energy cost savings and climate benefits.

• Identifying and prioritizing hospitals for initial investment.

• Assessing hospital readiness and institutional capacity to participate in renewable energy financing arrangements.

Key Output: Hospital Energy Investment Needs Assessment and Preliminary Project Pipeline.

Component 2. Developing Bankable Hospital Renewable Energy Projects

Transforming hospital energy needs into financially viable investment opportunities.

Fellows learn to translate technical energy opportunities into investment proposals that can be evaluated by financial institutions and prospective investors.

Activities include:

• Assessing solar and battery storage project configurations.

• Estimating capital expenditures and lifecycle operating costs.

• Developing project cash flow and financial models.

• Evaluating affordability, potential financial returns, and repayment capacity.

• Identifying technical, operational, regulatory, and financial risks.

• Developing preliminary investment criteria and project preparation standards.

• Exploring opportunities to aggregate multiple hospital projects into investment portfolios.

Key Output: Hospital Renewable Energy Project Preparation Framework and Financial Models.

Component 3. Designing the Hospital Renewable Energy Impact Fund

Creating country-specific financing mechanisms to mobilize investment capital for hospital renewable energy infrastructure.

This is the core investment design component of the fellowship.

Each country team develops a proposed Hospital Renewable Energy Impact Fund adapted to its national financing environment, healthcare system, and institutional capacities.

Activities include:

• Defining fund objectives, investment strategy, and governance arrangements.

• Identifying potential fund managers and institutional partners.

• Developing capitalization strategies and mapping prospective investors.

• Exploring grants, concessional loans, commercial capital, and blended finance.

• Evaluating leasing, power purchase agreements, and other financing arrangements.

• Designing potential credit enhancement and risk-sharing mechanisms.

• Modeling financial sustainability, investment returns, and social impact.

• Assessing regulatory requirements and institutional feasibility.

• Exploring pooled financing and bond structures where appropriate.

The fund design will focus exclusively on financing solar photovoltaic systems and battery storage for hospitals and healthcare facilities.

Key Output: Country-Specific Hospital Renewable Energy Impact Fund Concept and Preliminary Investment Framework.

Component 4. Co-Creating with Stakeholders and Investors

Building institutional partnerships and addressing barriers to climate finance mobilization.

Effective hospital climate finance requires collaboration among institutions with different mandates, capabilities, resources, and incentives.

Fellows engage stakeholders to test financing assumptions, address implementation constraints, and refine investment solutions.

Potential stakeholders include:

• Hospital administrators and healthcare networks.

• Ministries of health, energy, finance, and planning.

• Development finance institutions and commercial banks.

• Impact investors and philanthropic foundations.

• Renewable energy developers and energy service companies.

• Universities and research institutions.

• Government regulators and development partners.

Using collaborative inquiry, Adaptive Leadership, and PDIA, country teams identify financing bottlenecks, test practical solutions, negotiate institutional roles, and progressively refine their proposed investment fund structures.

The component also encourages cross-country peer learning and the adaptation of promising financing innovations from other contexts.

Key Output: Stakeholder Engagement Strategy, Institutional Partnership Framework, and Capital Mobilization Roadmap.

Component 5. Preparing for Fund Establishment and Implementation

Developing actionable pathways from investment fund design to pilot financing and scaling.

Fellows consolidate the outputs of the preceding components into a practical roadmap for establishing their proposed country-specific Hospital Renewable Energy Impact Fund.

Activities include:

• Refining fund architecture, governance, and investment criteria.

• Prioritizing initial hospital projects for further preparation.

• Developing financing and investor engagement strategies.

• Identifying institutional and regulatory requirements for fund establishment.

• Preparing project development and due diligence roadmaps.

• Establishing financial performance and impact measurement frameworks.

• Developing implementation arrangements for procurement, operations, maintenance, and monitoring.

• Planning pilot investments and subsequent scaling.

• Presenting fund concepts and investment pipelines to prospective institutional partners and investors.

Key Output: Country-Specific Fund Establishment and Implementation Roadmap.

Country-Specific Hospital Renewable Energy Impact Funds

A defining feature of the Hospital Climate Finance Fellowship is its emphasis on developing investment funds suited to each participating country.

Although hospitals across Africa and Asia face similar energy challenges, financing conditions vary considerably.

Electricity tariffs, regulatory frameworks, government procurement rules, financial markets, investor appetite, and institutional capacities differ across countries.

The fellowship therefore follows the principle of shared learning, locally designed financing solutions.

Each country team develops its own proposed Hospital Renewable Energy Impact Fund while benefiting from common technical resources, financial modeling tools, investment design frameworks, and peer learning opportunities.

Potential financing structures may include:

• Blended finance investment funds.

• Concessional lending facilities.

• Renewable energy leasing and service financing.

• Hospital solar and battery storage investment portfolios.

• Pooled project financing and impact bond mechanisms.

• Public-private financing partnerships.

The appropriate structure will depend on each country's investment environment, regulatory requirements, institutional capacities, and project economics.

Where feasible, funds may aggregate multiple hospital projects into investment portfolios, reducing transaction costs and creating opportunities to mobilize larger pools of capital.

Measuring Financial, Health, and Climate Impact

The fellowship promotes investment models that measure both financial performance and positive development outcomes.

Country teams will develop impact measurement frameworks addressing six areas:

1. Healthcare Resilience

• Hours of critical healthcare services supported during power interruptions.

• Reliability of electricity for operating theatres, oxygen systems, laboratories, and medical cold chains.

• Improved continuity of essential healthcare services.

2. Financial Sustainability

• Hospital electricity cost savings.

• Diesel fuel expenditure avoided.

• Financial returns and long-term affordability.

• Lifecycle costs of solar and battery storage systems.

3. Climate Impact

• Solar electricity generated and consumed.

• Diesel consumption displaced.

• Greenhouse gas emissions avoided.

4. Capital Mobilization

• Value of public and private capital mobilized.

• Amount of concessional and commercial financing secured.

• Potential financial leverage achieved through blended finance.

5. Investment Development

• Number of hospitals assessed.

• Value of the prospective hospital investment pipeline.

• Number and value of projects prepared for financing.

• Progress toward establishing investment facilities.

6. Institutional Development

• Number and diversity of participating institutional partners.

• Agreements supporting fund development.

• Strengthened local capacity in climate finance and renewable energy investment preparation.

Country-specific targets will be developed based on baseline data, project characteristics, and the proposed investment structures.

Who Should Apply?

The Hospital Climate Finance Fellowship welcomes professionals and institutions committed to developing innovative financing solutions for climate-resilient healthcare infrastructure.

Healthcare Leaders

Hospital executives, healthcare administrators, infrastructure managers, and health system planners interested in financing reliable, affordable electricity.

Finance and Investment Professionals

Bankers, impact investors, fund managers, development finance specialists, social finance practitioners, and financial advisers.

Renewable Energy Professionals

Solar developers, battery storage specialists, engineers, energy service companies, and renewable energy project developers.

Government and Policy Professionals

Officials from ministries of health, energy, finance, planning, and public investment agencies.

University Faculty and Researchers

Academics and researchers working in healthcare systems, renewable energy, finance, climate governance, and sustainable development.

Development and Civil Society Organizations

Professionals supporting healthcare access, climate resilience, sustainable infrastructure, and innovative development financing.

Multidisciplinary country teams are encouraged, particularly those combining expertise in healthcare, renewable energy, finance, and institutional governance.

Expected Fellowship Outcomes

By the end of the fellowship, each participating country team are expected to develop one or more of the following deliverables:  

Component 1. Understanding Hospital Energy Needs

Hospital Energy Investment Needs Assessment and Preliminary Project Pipeline

Component 2. Developing Bankable Hospital Renewable Energy Projects

Project Preparation Framework and Financial Models

Component 3. Designing the Hospital Renewable Energy Impact Fund

Country-Specific Impact Fund Concept and Investment Framework

Component 4. Co-Creating with Stakeholders and Investors

Institutional Partnership Framework and Capital Mobilization Roadmap

Component 5. Preparing for Fund Establishment and Implementation

Country-Specific Fund Establishment and Implementation Roadmap

Together, these outputs form an integrated foundation for advancing a proposed Hospital Renewable Energy Impact Fund from concept development toward institutional establishment and initial investments.

The fellowship aims to prepare teams for subsequent feasibility assessments, investor engagement, and fund development. Fund establishment and investment commitments will depend on country-specific feasibility, institutional approvals, and capital availability.

Africa-Asia Collective Learning Network

The Hospital Climate Finance Fellowship is designed as a collaborative platform connecting practitioners and institutions across Africa and Asia.

Fellows will have opportunities to exchange experiences, compare financing environments, explore investment models, and learn from emerging hospital renewable energy initiatives.

The network seeks to support:

• Cross-country peer learning and knowledge exchange.

• Shared financial models and project preparation resources.

• Collaborative problem-solving among country teams.

• Institutional partnerships between hospitals, universities, investors, and development organizations.

• Replication and adaptation of promising climate finance innovations.

• Development of a growing knowledge base on hospital renewable energy investment.

Over time, the fellowship aims to contribute to a community of practice advancing innovative finance for climate-resilient healthcare systems.

Why Join the Fellowship?

Design Real Investment Solutions

Develop practical financing mechanisms and investment frameworks rather than focusing exclusively on theoretical learning.

Build Country-Level Partnerships

Collaborate with healthcare institutions, government agencies, renewable energy companies, financial institutions, and prospective investors.

Develop Climate Finance Capabilities

Strengthen skills in investment design, financial modeling, blended finance, project preparation, and impact measurement.

Learn Across Africa and Asia

Benefit from collective learning with practitioners addressing similar challenges in different national contexts.

Advance Healthcare and Climate Impact

Help create financing pathways that improve hospital electricity reliability, reduce operating costs, and accelerate renewable energy adoption.

About the Social Finance Lab

The Social Finance Lab (SFL) of the Asian School of Governance advances innovative financing mechanisms that mobilize capital for sustainable development, climate resilience, and inclusive economic transformation.

The Lab brings together government institutions, investors, development organizations, universities, and social innovators to co-create financing solutions for complex development challenges.

Its work encompasses social finance fellowships, applied research, investment innovation, financial instrument design, and institutional partnerships.

Through the Hospital Climate Finance Fellowship, the Social Finance Lab applies this approach to healthcare infrastructure, supporting the development of country-specific investment funds that finance solar photovoltaic systems and battery storage for hospitals.

The initiative seeks to demonstrate how innovative climate finance can strengthen healthcare resilience while accelerating the transition to cleaner energy systems.

Join the Hospital Climate Finance Fellowship

Finance Clean Energy. Strengthen Hospitals. Build Climate Resilience.

The Social Finance Lab invites professionals and institutions across Africa and Asia to help develop innovative financing solutions for hospital solar and battery storage.

Whether you represent a hospital, university, financial institution, renewable energy company, government agency, or development organization, the fellowship offers an opportunity to collaborate on practical climate finance innovations.

Opportunities to Participate

• Apply as an Individual Fellow

• Form a Country Fellowship Team

• Become an Institutional Partner

• Collaborate as a Technical or Investment Partner

• Support Country-Specific Fund Development

Expressions of Interest Are Welcome

Fellowship schedule, duration, participation arrangements, and application details will be announced separately.

Hospital Climate Finance Fellowship

Social Finance Lab | Asian School of Governance

Africa-Asia Collaboration for Climate-Resilient Healthcare