AFRICA: Networking to facilitate the financing of renewable energies

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AFRICA: Networking to facilitate the financing of renewable energies ©Abraham Badenhorst/Shutterstock

The Renewable Energy Performance Platform (REPP) has just launched a series of networking sessions to connect independent power producers (IPPs) and investors. The online event is of interest to a number of donors including the African Development Bank (AfDB) and Finnfund.

How to mobilise funds for the implementation of a dedicated clean energy project for the grid? This is a real headache for independent power producers (IPPs), especially the less experienced ones. To address this issue, the Renewable Energy Performance Platform (REPP) launched online networking sessions on October 13th, 2020. The aim is to enable IPPs to make contact with investors.

This concept is already of interest to many donors. According to REPP, a platform funded by the UK government’s International Climate Finance, nine development finance institutions have already registered for the networking sessions, including the African Development Bank (AfDB) and FinnFund, a Finnish company specialising in development finance.

Two weeks of networking

“The renewable energy sector in Africa represents a huge potential market for investors, but despite a significant increase in investment, the current level of activity falls far short of what is needed if we are to meet global targets on climate and access to electricity. And the Covid-19 pandemic has only made the situation worse, with many investors slowing down,” says Geoff Sinclair, managing director of Camco Clean Energy (Camco), the REPP’s investment manager.

The platform’s networking sessions are part of the REPP Academy 2020, which provides capacity building to help recipients of REPP investments move their projects forward and deliver clean energy in African countries. “In addition to networking sessions with investors, participating companies will take part in a mix of short presentations, panel discussions and one-on-one meetings with peers and REPP team members,” says Camco Clean Energy. These networking sessions conclude in a fortnight.

Jean Marie Takouleu


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