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Friday, 06 May


Dear <<First Name>>

The Credit Risk Abatement Facility, which Camco helped to develop, has won the Green Finance and Investment Award at this year’s Island Innovation Awards.   
 
CRAF aims to increase Caribbean businesses’ usage of renewable energy and energy efficiency solutions by providing credit enhancement and technical assistance to local financing institutions. 

The development of the facility, which was officially launched in November 2020, was led by the CARICOM Development Fund (CDF). Camco acted as a consultant to the CDF throughout the process, from an initial feasibility and market scan to supporting the finalisation of the design of CRAF’s credit enhancement instrument, technical assistance facility and a robust monitoring and evaluation system. We also provided additional support to the CDF in 2021 during the first year of CRAF’s pilot phase.  
 
To see CRAF recognised by Island Innovation and The Clinton Foundation, which are taking a lead in driving sustainable development across the world’s islands, is a tremendous accolade for the facility and I congratulate the entire CDF team on this notable win. 

To find out more about CRAF, please check out the website here. If you’re interested in watching the awards ceremony you can view it here (the CRAF bit starts at around 1hr 19m).  


Cheers

Geoff Sinclair

Managing Director, Camco Clean Energy


 

Story of the week

A new mechanism set up by the United Nations Development Fund and Bamboo Capital Partners will support impact investments by SMEs in developing countries - including many African nations. 

Camco news

The Credit Risk Abatement Facility (CRAF), which Camco helped to develop by acting as a consultant to the CARICOM Development Fund, took the Green Finance and Investment Award at this year’s Island Innovation Awards.

West Africa

Nigeria: EU to boost private sector capacity (Leadership)
- The EU is further supporting the country in a bid to help progress its energy transition timetable by addressing the challenges of accessing funds by the private sector and addressing capacity gaps.

Nigeria: The barriers to optimising clean energy solutions (The Electricity Hub)
-  Opinion piece exploring the different challenges facing both developers and consumers in successfully deploying clean energy solutions in the country.

Nigeria: National energy plan to revamp sector (The Guardian)
- The Minister of Science, Technology and Innovation has stated that the 2022 Revised National Energy Policy and National Energy Master Plan will have a positive impact on the country’s energy sector.

Nigeria: Starsight energy announces refinancing agreement (Business Ghana)
- The Africa-focused solar energy provider has declared the conclusion of a competitive local currency agreement with Chapel Hill Denham NDIF.

East Africa

Kenya: Waste-to-energy plant to be built in Kericho County (Afrik 21)
- The county wants to provide a sustainable solution to the problem of solid waste pollution by converting it into electricity.

Mozambique: Country refuses to abandon coal mining (AllAfrica)
- The Mozambican government has ruled out abandoning the mining of coal, arguing that "the necessary conditions must be in place" before it is an option.

Tanzania: Country to produce 6,000 MW of renewable energy (ESI Africa)
- The President has announced the country’s goal to complete the works by 2025, through sources including hydropower, solar and wind projects. 

Zambia: USD15.5 million investment into Zambia’s first renewable energy buyer (ESI Africa)
- InfraCo Africa, the Danish Investment Fund for Developing Countries and EDFI ElectriFI will provide the finance to enable the company to scale its offering as the country’s first renewable energy buyer and service provider.

Southern Africa

South Africa: Eaton Electric installs Africa’s largest modular power system (ESI Africa)
-  The company has successfully completed the system's installation at Africa Data Centre’s 10MW facility in Johannesburg.

South Africa: Minister announces long-term energy production needs (Business Tech)
- The country's Transport Minister, Fikile Mbalula, claims it needs to install between 3,000MW and 4,000MW of renewable energy per year as part of a long-term clean energy transition.  

South Africa: REIPPP programme revises timelines (ESI Africa)
- The Department of Mineral Resources and Energy has announced revised schedules for the commercial close of the programme's bid window five schedule.

Africa - other

Hydrogen: Hydrogen Europe joins the African Hydrogen Partnership (H2 View)
- The partnership intends to grow the renewable energy sector and promote green hydrogen production in the region.  

Investment: USD60 million committed to SME investment vehicle (Afrik 21)
- At least six development finance institutions are financing the Bamboo-UNCDF Initiative for Least Developed Countries, which will invest in impact projects led by SMEs.

Investment: USD3.3 million facility emerges to finance climate resilience (Afrik 21)
- The program has been set up by BFA Global and FSD Africa to fund startups investing in climate resilience solutions. 

São Tomé and Principe: Government launches solar tender (Afrik 21)
- The call for expressions of interest in the construction of the 1.5 MWp solar PV project, financed by the AfDB, is open until 6 June.

Pacific

Fiji: Country announces National Climate Finance Strategy (Fiji Climate Change Portal)
- The strategy's roles are to fulfil the requirement to develop and implement Fiji's recently enacted Climate Change Act and act as a comprehensive national blueprint across the sectors that require climate finance to build a net-zero economy by 2050. 

Kiribati: Country’s Prime Minister claims Pacific leaders are “ignored” (RNZ)
-  Anote Tong believes that the international community is ignoring the severe impact of climate change on the Pacific region. 

Pacific: Australia climate summit could rebuild ties (Pina)
- A report issued by the Australia Institute suggests hosting international climate talks in 2024 with its smaller and more vulnerable neighbours could ease diplomatic rifts and bring economic benefits. 

Vanuatu: Prime Minister warns that the Pacific’s future is in the hands of the rich (Pina)
- Bob Loughman has stated that the Pacific will not survive if the wealthiest corporations and governments “continue to put profits over people and planet”.

Rest of the world

Climate Finance: Wall Street pressed to stop funding fossil-fuel projects (Bloomberg)
- Sierra Club has been pushing Well Fargo, Goldman Sachs and Morgan Stanley to stop investing in new fossil fuel developments, including coal. 

Solar: Will "solar boxes" revolutionise renewable energy? (Euronews)
- With batteries powered by portable solar panels, a single "Power-Blox" can meet the majority of households' electrical needs, claims co-founder Alessandro Medici.

UN: Energy Plan of Action Towards 2025 launches (EnergyWorld)
- The plan marks a major step to catalyse the substantial support required for the clean energy transition, affordable energy for all and to reach net-zero targets.

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