REPP appoints legal panel
Renewable Energy Performance Platform appoints legal panel
London, 20 March 2016 – The Renewable Energy Performance Platform (REPP) has been established in order to develop small-scale and distributed renewable energy in sub-Saharan Africa.
REPP has been set up with the support of The European Investment Bank and United Nations Environment Programme. As an innovative climate finance initiative, REPP’s purpose is to provide support to African renewable energy projects smaller than 25MW, to enable them to reach financial close and be constructed.
The REPP “toolbox” includes:
- Early stage technical assistance;
- Efficient access to financial structuring and risk mitigation instruments, including assistance in sourcing debt financing; and
- Results-based finance, in certain limited circumstances, to ensure that viable projects are able to reach financial close.
The provision of legal support to project developers forms part of the “toolbox” that the REPP may provide to African renewable energy projects to assist them in reaching financial close. In order to provide this assistance in a cost effective and timely manner the REPP has appointed a legal panel consisting of the following firms: Baker & McKenzie, DLA Piper, Bowman Gilfillan and Norton Rose Fulbright.
Karl Upston-Hooper, General Counsel of GreenStream, who serves as Company Secretary of the REPP, said: “A key component of our technical services is providing projects with the necessary legal resources for due diligence, documentation review, power purchase agreement negotiation and regulatory compliance. To this end we have selected four world class firms with 1st-in-class track records in African renewables and are confident that the expertise of these firms will further the goals of the REPP and help create a sustainable financing ecosystem for small scale renewables in sub-Saharan Africa.”
Notes to the editor
Quotes from members of the legal panel:
Bowman Gilfillan Africa Group: “We are delighted to be appointed to the REPP legal panel and we look forward to supporting REPP through every stage of the renewable energy investment programme.”
Baker & McKenzie: “Baker & McKenzie is delighted to be a panel firm for REPP. REPP’s work to help unlock widespread deployment of small scale renewable energy throughout sub-Saharan Africa will have a profound impact on the communities and the region. We are eager to assist REPP in this important endeavour.”
DLA PIPER: “We are very pleased to be appointed to the panel of legal advisors for the Renewable Energy Performance Platform (REPP), one of the leading and innovative initiatives in international climate change finance. We look forward to supporting REPP with our wide office network in Africa and our long-standing experience in climate change finance.”
Norton Rose Fulbright: “Norton Rose Fulbright is delighted to be appointed to the 2016-2017 panel of legal advisors for the Renewable Energy Performance Platform. This is an excellent initiative that will support projects to improve energy access across Sub-Saharan Africa, we look forward to working with the team.”
About Camco Clean Energy
Camco Clean Energy, a subsidiary of redT energy PLC (LSE:RED), works with project developers, utilities, donors, private and multilateral development banks to assist in the development and financing of renewable energy projects in Africa.
The firm is a leader in the renewable energy sector, with 25 years’ experience managing public and private sector funding, and advising developers and governments on project finance via its network of offices in Kenya, South Africa, Ghana and London. Camco also co-advises Green Africa Power (GAP), a mezzanine fund dedicated to financing renewables in Africa.
Helsinki-based GreenStream Network Ltd offers advisory, financial and asset management services for renewable energy, energy efficiency and other climate change mitigation activities. GreenStream has a rare combination of broad-based expertise in carbon and renewable energy markets, including emissions trading, policy design, financial analysis and project development. GreenStream has offices in Helsinki, Beijing and Kiev.
GreenStream finances energy efficiency projects in China utilising the Energy Service Company (ESCO) model and implements the projects together with leading Nordic clean-tech providers.