AFRICEF underlines REEEP's role in transfer of climate technologies
Johannesburg, 17.09.2010 - REEEP International Secretariat
More than 140 investors, financiers and other clean energy experts have gathered in Johannesburg for the Africa Forum for Clean Energy Financing (AFRICEF), where they were presented with business plans from nine different finalist project developers, and where an international panel of judges selected the top businesses as winners of the CTI PFAN Clean Energy Financing Award 2010.
The two winners were a mini-hydro project in Uganda that had benefited from REEEP-funded PFAN coaching, and a micro-solar distribution project by Barefoot Power Pty. Ltd. Four of the finalist projects come from either Mozambique or Uganda, where PFAN activities have recently been introduced thanks to a current project funded by the government of Ireland.
John Gormley, Ireland's Minister for the Environment, Heritage and Local Government, made a video address to the AFRICEF gathering, underlining Ireland’s commitment to REEEP as an instrument for facilitating the transfer of sustainable energy technology to sub-Saharan Africa.
The AFRICEF event concludes a long process that was initiated by the Climate Technology Initiative Private Financing Advisory Network (CTI PFAN) in February 2010 through a regional call for proposals targeting businesses and entrepreneurs in African countries.
More than 65 businesses submitted their proposed business plans for review by an expert committee, and a select group of ten finalists were chosen for expert coaching from professional advisors, clean energy investors and development banks on:
- the key elements of a business plan and growth strategy
- expectations and requirements of investors and bankers
- how to prepare and present an investor pitch
- how to target and select investors
AFRICEF has the support of the International Center for Environmental Technology Transfer (ICETT), and is co-organised by the South African National Energy Research Institute (SANERI), the Energy Fund of Mozambique (FUNAE), the Rural Electrification Agency of Uganda (REA), the Private Sector Foundation Uganda Energy for Rural Transformation Programme (PSFU ERT), PPL International, Verde Azul, and the Uganda Carbon Bureau. It is also sponsored by the United States Agency for International Development (USAID).