UK’s REPP calls for applications for funding from innovative renewable energy projects in Sub-Saharan Africa
The UK-government funded programme is calling for applications for funding from industry pioneers across Sub-Saharan Africa.
London, United Kingdom, 5 October 2021 — By focusing on clean energy pioneers, REPP – managed by Camco Clean Energy and funded by the UK Government’s International Climate Finance – is aiming to support the deployment of innovative business models or first-time applications of existing renewable energy technologies across the region.
Innovative finance, business models and/or technologies are critical for cutting greenhouse gas emissions in line with the Paris Agreement and achieving the UN’s Sustainable Development Goals for universal energy access by 2030.
REPP’s RFP is looking specifically for projects that include:
- technologies and business models that are first of their kind in the country or region;
- innovative business models and unique concepts supporting clean energy technologies; and/or
- innovative business models supporting the uptake of productive use of renewable energy.
Successful applicants stand to benefit from a host of financing services and support tailored to their unique circumstances and needs, ranging from development loans and gap financing to access to risk mitigation instruments, as well as technical assistance and capacity building alongside any direct REPP investment.
Geoff Sinclair, Managing Director at Camco Clean Energy, said:
“As world leaders gear up for the COP26 climate talks in Glasgow next month, the early indicators are that the level of ambition being seen in countries’ national climate plans – their Nationally Determined Contributions – is not nearly at the level they need to be at to limit global warming to 1.5°C .
In many countries in Sub-Saharan Africa, where more than half a billion people still live without access to electricity, the climate challenge is all the greater as nations try to manage emissions reduction objectives with universal electrification targets.
Through this RFP we want to discover and support the renewable energy sector’s pioneering developers whose business innovations may hold the key for delivering clean energy access at scale and speed.”
The deadline for submitting applications is October 29, 2021 at 4pm (UCT). Detailed information about the application, evaluation and selection process can be found on the REPP website here. All queries should be emailed to [email protected].
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About REPP
The Renewable Energy Performance Platform (REPP) works to mobilise private sector development activity – and investment – in small to medium-sized projects (typically up to 25MW). It is supported with £148m funding from the UK’s International Climate Finance through the Department for Business, Energy and Industrial Strategy (BEIS), and to date, has agreed contracts with 29 renewable energy projects across 16 countries, employing 7 different technologies, from SHS and PV mini-grids to biomass and run-of-river hydro.
www.repp.energy
About Camco Clean Energy
Camco Clean Energy is a specialist fund manager focused on renewable energy, climate finance and impact in emerging markets. We offer elegant and practical financing solutions to lead the clean energy transition, pairing the conscience of a development bank with the agility of a small private company. Camco is an Accredited Entity of the Green Climate Fund and is authorised and regulated by the UK Financial Conduct Authority. The company has offices in Accra, Helsinki, Johannesburg, London, Nairobi and Toronto.
www.camco.energy
About the UK’s International Climate Finance
UK International Climate Finance (ICF) is the UK’s primary international instrument to help deliver on our commitments under the Paris Climate Agreement. It is one of the vital tools we are deploying to tackle climate change internationally and help us secure successful outcomes at the COP26 negotiations.
The UK’s ICF helps developing countries mitigate and adapt to the impacts of climate change, reduce deforestation and pursue clean economic growth. The ICF is focused on driving transformation in line with the scale of action required to tackle climate change.
Our results to date demonstrate the transformative impact that international climate action can have. Between April 2011 and March 2021, we have:
- supported 88 million people to cope with the effects of climate change;
- provided 41 million people with improved access to clean energy;
- reduced or avoided 180 million tonnes of greenhouse gas emissions;
- mobilised £5.2 billion of public finance and £3.3 billion of private finance for climate change purposes in developing countries;
- installed 2,400 megawatts of clean energy capacity.
https://www.gov.uk/guidance/international-climate-finance
Media contact
For all media enquiries and interview requests, please contact [email protected] or call Hugh Bowring on +44 2045 517056.
Press release provided Camco Management Limited (“Camco”). Photo credit: CC via Pixabay.
