Deadline: 19-Oct-20
The Renewable Energy Performance Platform (REPP) is calling for developers of utility-scale renewable energy projects in countries in Africa to submit applications for funding for their projects.
By targeting utility-scale projects, REPP is aiming to support countries in Africa’s acceleration toward decarbonization and the rapidly expanding renewable energy sector.
REPP is a UK government-funded program working to stimulate the growth of the renewable energy sector in countries in East, West, Central and Southern Africa, in order to contribute towards SDG 7 – ensuring access to affordable, reliable, sustainable, and modern energy for all, and SDG 13 – taking urgent action to combat climate change and its impacts.
How can REPP Help?
- Development phase capital and support: REPP provides loans for selected third-party development expenses (such as feasibility studies, environmental and social impact assessments, and legal advice), financial structuring support, and general project guidance.
- Access to risk mitigation instruments: REPP helps projects and developers to access appropriate risk mitigation instruments provided by third-party providers to mitigate political, regulatory, currency, and off-taker risk where possible.
- Gap financing: REPP helps to bring projects to financial close by providing funding using an array of finance products ranging from equity to senior debt.
- Access to long-term lending: REPP helps developers to structure project finances in the right way, and to secure finance from REPP partners and other sources of capital – both private and public.
- Technical assistance: REPP also supports developers with business planning, training, workshops and seminars, and facilitating learning and exchange between developers.
Technologies Supported
- Grid-Connected Solar PV
- Wind
- Hydropower
- Geothermal
- Biogas
- Biomass
- Waste-To-Energy.
REPP’s Areas of Operation
- All countries in East, West, Central, and Southern Africa except Botswana, Gabon, Namibia, and South Africa are eligible for REPP funding.
Environmental and social requirements
- All REPP investees are expected to rigorously adhere to its Environmental and Social Policy and Procedures,
which are closely based around the IFC’s and EIB’s environmental and social performance standards. - Any recipient of REPP support must assess the environmental and social impacts of its projects and develop a management system in accordance with those standards.
Eligibility Criteria
Projects eligible for the funding in this request for proposals:
- Between 1MW and 25MW in size (but can be up to 50MW for wind), although larger projects are preferred.
- Grid-connected, either to the national network or an isolated grid.
- Privately-owned (i.e. at least 50% owned by a privately-owned company or individuals).
- Note: REPP is particularly interested in hearing from developers who need its support to unlock projects that are at an advanced stage, close to financial close.
- Specific attention will be given to African developers (i.e. owned by African nationals).
How to Apply
- All applications must be submitted through an online application form given on their website.
- A business plan or information memorandum and a financial model should be uploaded as part of the application.
- All proposals must be received by the deadline to qualify for priority assessment by the REPP project team and IC.
- Any proposal that meets the eligibility criteria above that is received after that date will still, of course, be keenly welcomed.
For more information, visit https://repp.energy/resource-center/news/repp-issues-utility-scale-request-for-proposals/