SolarPower Summit 2017: No issue with financing of RE projects in Africa – Michael Franz, Team Leader at Africa-EU Renewable Energy Cooperation Programme (RECP)
SolarPV.TV, the Official TV Partner of the SolarPower Summit 2017 organized by SolarPower Europe, presents an interview with Michael Franz, Team Leader at Africa-EU Renewable Energy Cooperation Programme (RECP), a African-European platform for promoting renewable energy market development and investment in Africa.
The RECP supports market development in a variety of ways. This includes the provision of critical information on African energy markets, identification of concrete project opportunities through on-the-ground scouting activities, matchmaking between project developers, technology suppliers, and service providers for joint project and business development in Africa as well as facilitation of access to finance. In addition to these private sector focused activities, RECP also provides policy advisory services and supports local skills development by working with technical and vocational training institutions and academia.
Through the development of in-depth market studies, as well as the provision of web-based overviews on Africa’s renewable energy markets, the RECP helps entrepreneurs identify markets that fit their business. Please visit our Market Information section for more details.
Through our local partners in Africa, RECP conducts dedicated scouting aimed at identifying tangible project opportunities that are subsequently promoted through our various partner networks as well as our networking events.
Networking and Information Events
The RECP informs stakeholders about opportunities in Africa’s renewable energy markets, while also acting as a platform for both African and European entrepreneurs to come together for networking and joint project development. To this end RECP organizes a variety of information and matchmaking events of different scope together with our partners in the EU and Africa.
In order to maximize value added, RECP organises such events through its partner network and embeds its own events in existing conference formats. In 2016, RECP and its partners have already organized 6 matchmaking events and 4 information workshops, reaching over 600 participants and resulting in more than 1800 documented bilateral business meetings.
RECP and its partners are already planning various new events and conferences for 2017. Please visit our Events Section for upcoming events.
Access to finance
Reaching financial close on renewable energy projects in Africa continues to require access to concessional sources of financing. International finance institutions such as the regional and international development banks have reacted to this with the establishment of a variety of dedicated funds and other instruments offering different financial products to project developers. Most project developers have only limited knowledge of their modalities and scope. The Finance Catalyst team has been engaged by RECP to address this through a combination of targeted advisory services and an online database of funding instruments.
The RECP has already identified over 75 relevant individual financing instruments for RE projects in Africa, covering both debt, equity and grant facilities. The database currently contains an initial selection of funds, while we continue to collect relevant data on the remaining funds. These will be added over the course of the upcoming months.
We are proud to announce the RECP Finance Catalyst team, a support service, which will help provide project specific advice on potential sources of funding as well as supporting project developers in building their business case with a view to financiers’ requirements. The Finance Facilitator is currently in the later stages of development and we will publish more information in the upcoming months. A first teaser of its services can be found under Services.