REPP works to mobilise private sector development activity – and investment – in small to medium-sized projects (typically up to 25MW), and is supported with £48m ($67m) initial funding from the UK’s Department for Business, Energy and Industrial Strategy (BEIS) and the International Climate Finance initiative.
The original concept for the programme was developed by UN Environment and the European Investment Bank in response to the UN’s Sustainable Energy for All initiative.
It is managed by Camco Clean Energy, a leader in renewable energy finance, which provides developers with access to various financing products, services and experience.
To date, REPP has committed $13.1m in co-financing for the development of 16 active projects covering a wide range of technologies, from solar homes systems to grid-connected solar farms and run-of-river hydropower plants.
REPP has a five-year mandate to:
Provide first-time or improved energy access to 2m people
Avoid 5.7m tonnes of greenhouse gas emissions
Increase electricity generating capacity in sub-Saharan Africa by 150MW
DEVELOPMENT PHASE CAPITAL
ACCESS TO RISK MITIGATION INSTRUMENTS
ACCESS TO LONG-TERM LENDING
With its abundance of available natural resources, sub-Saharan Africa is perfectly placed for scaling-up renewable energy at an immense scale - with global impact.
At a local level, decentralised renewable energy initiatives offer a wealth of benefits to the region’s underserved rural communities - from being a cheaper and easier alternative to rolling out the national grid, to providing a high quality, clean and reliable supply of electricity.
But even though the environmental, social and long-term economic cases for renewable energy stack up, too many restrictions to funding and expertise is leading to far too few viable renewable energy projects reaching fruition.
REPP is working directly with clean energy developers to ensure promising projects are realised and the sector is given the support it needs to grow.