A huge shortage of capital for the sector remains, with just a decade left to achieve SDG7. And most money is concentrated in a small number of companies while ignoring most high-impact countries. What solutions are needed?
Despite an increase in investment for distributed renewable energy companies over the past 5 years, most of it went to a handful of companies and 93% say they are still trapped in a "Pioneer Gap" between seed and commercial capital. More patient capital is needed. This is according to a recent report, Accelerating Energy Access: The Role of Patient Capital, from campaign partner Acumen.
To improve lender confidence and increase project financial attractiveness, micro-grid developers should reduce the risks of non-steady cash flows through four short-term actionable strategies
She provides strategic and operational guidance to the World Bank’s Energy and Extractives Global Practice to scale-up the bank’s energy access interventions. In addition to this role, Dana is coordinating energy access activities at the World Bank’s Energy Sector Management Assistance Program (ESMAP), where among other things she is the Program Manager for Lighting Global. Dana also leads a global initiative for applying the Multi-Tier Framework for tracking energy access in the context of the Sustainable Energy for All and SDG7 goals.
Practical Action’s PPEO 2017 focuses on how to finance people-driven energy access solutions. Through case studies from Bangladesh, Kenya and Togo, Practical Action highlights that we already have most of the tools needed to finance a bottom-up renewable revolution.
Nigeria’s Decentralized Renewable Energy (DRE) Taskforce, which was launched in February to accelerate modern electricity access initiatives, met April 18 to tackle pressing challenges for the DRE sector, including a new tariff on solar panel imports.
Chances are that if you live in a remote part of sub-Saharan Africa or South Asia and don’t have access to electricity, you also don’t have access to clean water. That’s hundreds of millions of people.
An updated analysis of electricity access by the International Energy Agency (IEA) concludes that “decentralised systems, led by solar PV in off-grid and mini-grid systems, will be the least-cost solution for three-quarters of the additional connections needed” to achieve Sustainable Development Goal 7 (SDG7) by 2030.
“New investors are interested in mini-grids, but they look at companies and say ‘They are not ready for us’,” says Katrina Pielli, senior energy advisor for the U.S. Agency for International Development (USAID). “It’s exhausting for investors to go through 16-tab spreadsheets with no two developers presenting things the same way.”
Deutsche Bank AG, which recently received Green Climate Fund (GCF) financial support to launch a $3.5 billion debt fund for decentralized renewable energy, has joined the Power for All campaign.
Our Director of Research, Dr. Rebekah Shirley, took a post-conference opportunity to explore the catalysts of growth in the Kenyan decentralized solar market. In this article, she shares key insights and reflections from KEREA, Steama.co, Azuri and Tropical Power.
“One For All” is a new civil society campaign that seeks to end energy poverty by ensuring universal access to clean, renewable, and affordable energy by 2030. Comprised of leaders from the global development, faith, philanthropy, women’s rights, and health sectors, One For All is inviting partners to help design and launch a global initiative to call upon mission driven investors to direct 1% of their assets in the form of grants and investment capital toward innovative projects that deliver clean, renewable, and affordable energy around the world.
One of the most pronounced effects of a changing climate is the increase in extreme weather and other natural disasters such as hurricanes and wildfires. These disasters are not spread evenly: of the 30 countries most affected by changing weather, 26 are least developed countries. To put it another way, 423 million people living in extreme poverty are considered likely to experience the impacts of a changing climate. The tragic events of hurricane Matthew in Haiti are just the most recent example.
Michael Liebreich, founder of Bloomberg New Energy Finance, is a pioneer in the renewable energy industry and an inspirational evangelist for the ongoing global energy transition.
East Africa is a leader in the decentralized renewable energy revolution, and along with India it is the most closely watched market as it relates to scaling mini-grids. This is especially true of Tanzania. What happens in Tanzania will have implications for the success of mini-grids elsewhere.
Decentralized renewable energy has traditionally been under-estimated in emerging markets as only being capable of delivering electricity for home use, and then mostly for basic lighting. “Productive use”—creating goods and services either directly or indirectly for the production of income or value—has been more elusive.
In an advert this week in The Economist, the African Development Bank posted an opening for a Vice President of Power, Energy and Green Growth (VP of PEGG), who it said “will champion the New Deal on Energy for Africa and will lead the Transformative Partnership on Energy for Africa to achieve universal energy access in Africa.” Great news, right?
This article was originally printed in the World Post | 14 April 2016
Power for All Launches Call to Action for Development Banks to End Energy Poverty before 2030