Partners for Innovation has been assisting renewable energy projects in Sub-Saharan Africa to reach financial close through implementation of the RECP Finance Catalyst since 2016. By providing support and advice on project development, project structuring and access to finance, project developers are enabled to make their business bankable and create concrete investment opportunities. Building on the success of the past 1,5 year, these services are extended into 2018.
When starting a new renewable energy business in Africa, many entrepreneurs run into challenges that inhibit their project from materializing. Due to the relatively small size of the project or limitations in the developer’s network or experience, it can prove very difficult to identify the sources of finance that the project needs before it can be realised. Vice versa, investors can experience difficulties in identifying and connecting with promising projects, preventing them from optimizing their impact.
The RECP Finance Catalyst provides support and advice on project development, structuring and finance to small- and medium-scale renewable energy projects in Sub-Saharan Africa. For over 1,5 year, the Finance Catalyst has been assisting numerous private sector-driven renewable energy projects to access debt, equity or grants in order to reach financial close. In doing so, a variety of technologies and business models are being covered, including grid-connected hydro and waste-to-energy plants as well as standalone solar home systems and cookstoves.
Project proposals can be submitted online through the website of the RECP Finance Catalyst. The advisory support is available to all proposals that meet a number of criteria, listed here. For example, only projects with a cumulative generation capacity between 0.5-50 MW or aggregated investment in the range of € 1-70 million are eligible (which can include distributed generation). For more information, have a look on the RECP website.
The RECP Finance Catalyst is a service of the RECP (the Africa-EU Renewable Energy Cooperation Programme), a multi-donor programme that supports the development of markets for renewable energy in Africa. It was launched by more than 35 African and European Ministers and Commissioners under the Africa-EU Energy Partnership (AEEP).
Stan van den Broek