The Get.invest is seeking applications for its Finance Catalyst program 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 GET.invest Finance Catalyst team assists private-sector driven renewable energy projects and companies. GET.invest can support independent power producers (IPPs), commercial and industrial solutions, mini-grids, solar home system businesses and solar distributors, energy services companies (ESCOs and DESCOs), energy efficiency and clean cooking projects.
Get.invest delivers through a lean, non-bureaucratic setup, and an à la carte portfolio of services:
- Investment strategy geared at applicants at a relatively early stage, but with concrete financing prospects, and providing guidance on the necessary steps of project and business development in order to ensure completeness and quality.
- Structuring support advising on essential aspects of business case and financing models, and supporting developers towards structuring their propositions in a way that corresponds to the needs and expectations of financiers.
- Access to finance support to identify appropriate financing options and to align documentation with the specific requirements of financing and support instruments.
- Transaction support to provide assistance in the contractual negotiations during project preparation and business development, for instance covering aspects of the financing transaction, term sheets, contractual agreements with specialised advisory, or the fulfilment of conditions precedent.
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 us 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).
- Applicants must be situated in sub-Saharan Africa, the Caribbean or the Pacific region.
- 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.
- 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.
- 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.
- Proposals must be conceptualised as revenue generating and meet a minimum economic viability and sustainability threshold.
For more information, visit https://www.get-invest.eu/finance-catalyst/recp-finance-catalyst-solution/