Sustainable Development Goal 7 (SDG 7) stands for access to affordable, reliable, sustainable and modern energy for all. Last Friday (5 April), Partners for Innovation was present at the national event for companies, financiers, NGOs and other parties working on the realization of this goal. An important topic was bridging financial challenges for project developers.
A billion people have no access to modern means of electricity, and another 3 billion people still use heavily polluted fire wood an charcoal for cooking. The Dutch government therefore aims to provide 50 million people with access to sustainable energy by 2030. During the meeting, organized by RVO and the Ministry of Foreign Affairs, the attendees discussed how to reach this goal as quick as possible.
Access to financing to contribute to SDG 7
Developers of sustainable energy projects often face financial challenges. During the meeting a number of companies therefore had the opportunity to pitch their project for public and private financiers. Several policy instruments have also been presented, including:
- The GET.Invest program, the follow-up to RECP, for which Partners for Innovation implements the Finance Catalyst facility.
- Access to Energy Fund, a fund that invests in and provides loans to projects that realize energy generation, transmission and distribution in developing countries.
- The new SDG 7 Results facility program, aimed at stimulating access to renewable energy in developing countries. As of April 5th proposals can be submitted for this new subsidy.
Does your organization, company, NGO or financial institution want to contribute to access to renewable energy in developing countries? Partners for Innovation can help you in this process, and in finding suitable financing and submitting an application. For more information about these instruments, contact Stan van den Broek or Emiel Hanekamp.