All articles for the topic: international development

Press Release: Sweden's Beyond the Grid Fund for Zambia Signs First Contracts with Energy Service Providers. The Goal: Modern Energy for One Million Zambians

Swedish Ambassador to Zambia Henrik Cederin, VITALITE Director John Fay and long-standing VITALITE distributor Mr. Chongo at the contract signing in Mr. Chongo's shop in rural Chongwe

Sweden’s Ambassador to Zambia Henrik Cederin signed four contracts last Friday with companies offering a variety of rural energy solutions, marking the start of operations of the Power Africa: Beyond the Grid Fund for Zambia (BGFZ). The USD25m Fund, which is financed by the Swedish International Development Agency (Sida) and managed by the Renewable Energy and Energy Efficiency Partnership (REEEP), aims to bring modern energy to one million Zambians, and build a solid foundation for continuing growth of the market such that it can serve all Zambians.

Private Financing Advisory Network Relaunched under REEEP and UNIDO Hosting

On the 10th of May, 2017, the Private Financing Advisory Network (PFAN) was officially relaunched under its new hosting arrangement with the United Nations Industrial Development Organisation (UNIDO) in cooperation with REEEP in Vienna, Austria. Under this arrangement, PFAN’s activities will be scaled up by a factor of two to five by the year 2020.

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To apply to PFAN's continuous call for proposals, click here.

Background

As technology prices continue to fall, clean energy projects become more profitable and the appetite of investors for such projects grows, now is a time of enormous potential for the development of clean energy capacity around the world. PFAN helps investors tap into this potential to expand energy access, reduce damage to the environment, combat climate change and grow local economies.
 
A rapid scale-up of investment in clean energy generation capacity is required to replace energy generation based on fossil fuels and avoid the worst impacts of climate change. At the same time, significant investment will have to flow towards increasing the resilience of vulnerable populations and helping them to adapt to the changes already here and those still to come.
 
Governments alone will not be able to provide enough investment to achieve the impact required. Unlocking private sector finance in support of climate action is one of the main challenges that governments, international organisations and development banks have been grappling with since the Paris Agreement entered into force. PFAN has been tackling this challenge since 2006, using small amounts of public funding to leverage large amounts of private sector investment for clean energy and climate adaptation projects in low- and middle-income countries.
 
While combating climate change is our ultimate goal, in its day-to-day work PFAN is driven by a desire to help entrepreneurs succeed. We know that getting a project off the ground is difficult; we are aware of the barriers to finding investment that project developers face. Helping entrepreneurs overcome those barriers to fulfil their potential and contribute to climate change adaptation and mitigation is what drives us.

How Does PFAN Work?

Any entrepreneur wishing to launch or scale up a climate adaptation or clean energy project in a low- or middle-income country, and looking for investment of up to USD 50 million, is welcome to send in a proposal to PFAN. Our Call for Proposals is always open, and you may submit at any time. Proposals must be submitted online, through PFAN’s custom-built project management system. Click here to submit a proposal now.

Each proposal is reviewed by a minimum of two expert evaluators, who assess the maturity, viability and climate change mitigation potential of the project. Selected projects are inducted into the PFAN Project Development Pipeline. At this stage, they are assigned a coach, usually based in the same country. Coaches are selected from PFAN’s global network of clean energy and climate adaptation financing experts.

The Project Development Pipeline consists of three distinct streams:

  1. Long-Term Development Pipeline: Projects that are not yet investment-ready are placed in this stream, where they receive coaching for up to 18 months to reach investment-readiness. After finishing their coaching trajectory, they can be moved into the Investment Facilitation or Clean Energy Investment Forum streams.
  2. Climate & Clean Energy Investment Forum: Projects on the verge of investment-readiness can be selected for participation in a Climate & Clean Energy Investment Forum, where developers get the chance to pitch their business plans directly to a room full of investors. In the run-up to the Forum, these projects receive intensive coaching to perfect their business plans and investment pitches.
  3. Investment Facilitation: Investment-ready projects are placed in the Investment Facilitation stream, where they benefit from one-on-one support by the Investment Facilitation Team, including targeted introductions to investors.

PFAN Impact

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REEEP Team
Taiki Kuroda's picture

Taiki Kuroda

Director, PFAN Execution

REEEP Team
Juliane van Voorst tot Voorst's picture

Juliane van Voorst tot Voorst

Senior Manager, PFAN Operation

REEEP Team
Colin Brouillard's picture

Colin Brouillard

PFAN Project Officer, Asia & Pacific

REEEP Team
Teresa Oberascher's picture

Teresa Oberascher

PFAN Project Officer, Sub-Saharan Africa

CTI PFAN Call for Proposals: Project Development and Financing Initiative in India

The Private Financing Advisory Network (PFAN) is now accepting proposals from India for participation in the Project Development and Financing Initiative. This PFAN India initiative will present promising clean energy projects from India to interested investors. The initiative actively seeks renewable energy and energy efficiency projects that are financially viable, socially responsible and environmentally beneficial.

Vienna Energy Forum 2017

Vienna Energy Forum 2017

REEEP is a partner in the organisation of the Vienna Energy Forum (VEF) 2017, which will be themed Sustainable energy for the implementation of the SDGs and the Paris Agreement. It will highlight the multiplier effects of integrated approaches for sustainable development, and accentuate the potential of the sustainable energy nexus as well as innovation to drive accelerated sustainable growth.

Press Release: REEEP and PFAN Side Event at COP22: Experts stress crucial importance of financing for Small and Medium-sized Enterprises in ensuring success of the Paris Agreement

The Panel at the SME financing for NDCs side event

At the 22nd Conference of the Parties to the United Nations Framework Convention on Climate Change (UNFCCC), a panel of experts discussed how innovative financing solutions and closer stakeholder engagement can help developing countries reach and exceed the targets set in their Nationally Determined Contributions (NDCs) under the 2015 Paris Agreement, and how to ensure small and medium-sized enterprises (SMEs) play a meaningful and central role in this effort. The panel included high-level representatives from the public and private sector.

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