Partners for Innovation has been assisting renewable energy projects in Sub-Saharan Africa, the Caribbean and the Pacific to reach financial close through implementation of the GET.invest 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 to create concrete investment opportunities.

Renewable energy business

When starting a new renewable energy business in Africa, many entrepreneurs run into challenges that inhibit their project from materialising. 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.

Support & advice from GET.invest Finance Catalyst

The GET.invest Finance Catalyst provides support and advice on project development, structuring and finance to small- and medium-scale renewable energy projects in Sub-Saharan Africa.

Since 2016, the GET.Invest Finance Catalyst has been assisting numerous private sector-driven renewable energy projects to access debt, equity or grants in order to reach financial close. Using the expertise and network of our team, entrepreneurs and project developers are coached 1 on 1 and linked to potential financiers when possible. 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. Initiators can submit their project via the website of the GET.invest Finance Catalyst.

Results

From 2016 up until  October 2023 we have received 1387 applications, supported 388 projects and companies, are currently working with 191 clients, 149 projects are accepted by financiers and 77 have come to a financial close.

Examples of successful projects:

• Electric buses cut emissions and keep Nairobi (Kenia) moving
• A fridge for off-grid businesses, come rain or shine in Nigeria
• Uniting women’s empowerment with energy access in Rwanda
• Reinventing high-quality solar appliances with affordable solutions 
• Intelligent micro-grids for flexible, affordable energy in Mali and Benin
• Green hydrogen for local energy and agriculture in Barbados
• Pioneering efforts to electrify remote villages in Lesotho
• Burundi’s first non-diesel IPP
• Modern energy solutions by women for women in Kenia
• Powering up off-grid homes in Mozambique and Malawi
• Decarbonising St. Vincent while minimising land use

The Finance Catalyst is carried out by Partners for Innovation within the framework of GET.invest. GET.invest is a European program that aims at mobilising investments in decentralised renewable energy projects. The program is supported by the European Union, Germany, Sweden, the Netherlands,  Austria and – since October 2023 – Norway.

Download the factsheet of GET.invest

Contact Carla Logan or Menno Veen for more information.

With this project we contribute to the following Sustainable Development Goals of the United Nations: