A new platform to help fast-track African sustainable energy development projects was officially introduced in Nairobi, Kenya, this week.
The introduction of the New Partnership for Africa’s Development (NEPAD) Agency’s Africa Sustainable Energy Incubator Platform took place alongside the Africa Private Sector Forum at the Planari Hotel in Nairobi this week. The platform, which is a NEPAD Agency initiative, in collaboration with the ACP Business Climate Facility (BizClim), a programme of the ACP Group of States funded by the European Union, aims to fast-track African sustainable energy development projects. The initiative is described as “The meeting point for energy project developers and investors”. It connects energy project developers and investors, supports project development through access to expert mentors and serves as a knowledge hub for this fast-growing sector. The business support tools help to streamline projects, assist developers to structure their business proposals, shorten the time cycle for access to cash and equities, provide better pre-diligence for investors and establish finance products in association with blended funding partners.Cooperating for results
Dr Ibrahim Mayaki, NEPAD Agency’s CEO, says “NEPAD’s vision for a sustainable and inclusive approach to empowering Africa is complimented by frontline energy project developers who are delivering appropriate energy and fuel solutions. Africa also needs equally dynamic investors who can help to accelerate the expansion of affordable and sustainable energy,” he notes. “We would like to make the NEPAD Agency incubator test platform a future catalyst to strengthen our own coordination with African governments and agencies and promote this platform as an exchange to build common equity for developers and investors. We can and will bridge the investment gaps that have for too long restricted growth.” In Nairobi this week, a leading panel of investors from Africa and Europe, key agencies and industry mentors from the energy sector participated in a dedicated session titled “5th Plenary Session on Sustainable Energy Impact Investment” where alternative solutions to securitising risk capital to accelerate private sector energy projects was discussed.The plenary session was addressed by Professor Mosad Elmissiry, Head of the NEPAD energy division and the test incubator GEN-HUB platform author Gavin Maxwell . The session further explored innovative funding mechanisms, present the outputs of the NEPAD Agency’s Pan Africa Sustainable Energy Incubation and Investment Project and offer opportunities to enable impact grade finance to support energy developers across Africa.
