Deadline: 15-June-21
Applications are now open for the GET.invest Finance Catalyst that links renewable energy projects and companies with finance opportunities and vice versa, targeting small- and medium-scale renewable energy opportunities, currently in sub-Saharan Africa, the Caribbean and Pacific region.
It provides advisory support on investment strategy, business case structuring, as well as accessing finance through a team of dedicated experts with extensive experience in renewable energy project development and finance.
The Covid-19 crisis is affecting clean energy companies and projects. While some report rising sales, others are facing serious challenges. Many projects and companies need to either revisit existing plans and financing schemes or raise additional funding. In any case, there is a need to assess the situation and existing business plans, restructure financing arrangements, and access additional funds, including relief funds.
The Covid-19 related support offer
Covid-19 is changing the circumstances of doing business, and it also means that support to energy businesses must adapt. Based on surveys as well as external and internal consultations, GET.invest now offers Covid-19 related support in the areas of strategy including business continuity, business and financial structuring as well as financial modelling, access to finance support, and transaction advisory.
The examples below show different advisory topics, but are not conclusive:
- Investment Strategy, “birds’-eye view” advice on how to deal with the crisis, for example:
- Analysis and due diligence of current financing structure and operational situation (cash flow, funding); financial forecasting support; information on changing market conditions, finance environment and regulations; strategic advice on financial sustainability.
- Structuring Support on how to structure, and if necessary, restructure the project or company, in terms of business model, management, and financial models, for example:
- Connecting with the wider sector to share resources and operational solutions, and sharing lessons learned from the Finance Catalyst experience; assistance with review of business planning and business continuity; assistance in understanding respective legal positions with regards to current financial obligations of the company in the face of Covid-19; in-company Covid-19 response project management, in particular staff retention, furlough or layoff; financial (re)modelling support to inform adjustments to the Covid-19 situation.
- Access to Finance Support to identify appropriate and available financing sources and their modalities, for example:
- Information on and introductions to available relief funds and their modalities, or other accessible sources of funding; advice on which type of emergency / relief funding is most appropriate and desirable, and support in applications; matching funding needs with available funding.
- Transaction Support in negotiations with key stakeholders, including financiers (e.g. on restructuring) or public agencies such as regulators, for example:
- Assistance in managing debt service relief approach, loan restructuring and negotiation; assistance in managing creditor relief approach and negotiation; support to negotiations with in-country actors, such as regulatory or other relevant governmental agencies, banking regulators; identifying areas for further legal evaluation (for example, applicability of Force Majeure clauses in EPC agreements).
Eligibility Criteria
The regular, long-term support of the GET.invest Finance Catalyst is available to all applicants that meet the following minimum criteria:
- Only projects and businesses with a cumulative generation capacity between 0.5-50 MW or aggregated investments in the range of €250,000 to €70 million are eligible.
- Note: For applicants requesting fast-tracked support during the Covid-19 crisis, this is substituted with the following minimum criteria that need to be met in order to allow them to deploy support efficiently:
- the equivalent of €100,000 of turnover over the past 12 months as a proxy to justify the allocation of individual coaches and the associated cost;
- a minimum of 5 staff employed (salary or results-based) as a proxy for the job impact of the crisis, and as an indicator for the cash needs of the company;
- the business can demonstrate it had a sustainable funding plan at the end of February until 1 May 2020 (i.e. no funding gap before 1 May 2020).
- Note: For applicants requesting fast-tracked support during the Covid-19 crisis, this is substituted with the following minimum criteria that need to be met in order to allow them to deploy support efficiently:
- The major part of the scope must be a renewable energy system investment. Hybrid systems with a reasonable share of renewable generation capacity are also eligible.
- Supported models may comprise electricity generation, electricity distribution (in the case of mini-grids and stand-alone systems), mechanical energy and industrial / process heat or cooling, as well as clean cooking. Transmission projects or biofuels are not eligible.
- Proposals must be conceptualised as revenue generating and meet a minimum economic viability and sustainability threshold.
- Applicants must be located in (or proceeds to be used in) sub-Saharan Africa, the Caribbean or the Pacific region. (Please note there is no link between the countries covered in the ‘Market Information’ section on this website and the countries in which you can receive support from the Finance Catalyst. Applications for all countries that form part of the sub-Saharan Africa, Caribbean and Pacific region are eligible for support.)
- Eligible applicants may be private sector developers (local and international), NGOs, universities or research institutions. Preference is given to projects with a significant private sector representation.
For more information, visit https://www.get-invest.eu/finance-catalyst/access/