Personal tools

Green Africa Power

Green Africa Power (GAP) has been set up to stimulate private investment in renewable energy in Africa by acting as a long term source of financing and policy support to projects.

    GAP is the newest of PIDG’s Facilities. It is a multi-donor Facility, and was formed after a scoping exercise funded by the UK Department for International Development (DFID) and the Norwegian Agency for Development Cooperation (Norad) concluded that there was definite potential for a fund to address key market failures and stimulate private sector investment in renewable energy in Africa.

    Africa is the world’s most power-starved region, with more than 700 million people lacking access to electricity. There is a shortage of all types of power generation projects in Africa, but particularly renewable power projects. GAP has been designed to counter the pronounced market failures inhibiting the growth of renewables in the region by reducing the upfront cost of capital while maintaining overall commercial returns, providing cover for specific construction phase risks, and facilitating policy dialogue to move towards cost reflective tariffs.

    GAP has the ambitious target to finance approximately 270MW of new renewable energy generation capacity in four years, saving 3.9m tonnes of carbon emissions and improving the supply of clean energy to millions of people in Africa.

    KEY DATA

    Established:

    2013

    Fund Management Adviser:

    EISER Infrastructure Partners LLP (EISER)

    Funded by:

    UK Aid and Norad

    Contact:

    Peter Hutchinson, Executive Director