GEAPP – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Mon, 23 Mar 2026 12:30:32 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png GEAPP – Tech | Business | Economy https://techeconomy.ng 32 32 Rockefeller, GEAPP Commit $100M+ to Electrify 300 Million Africans by 2030 https://techeconomy.ng/rockefeller-geapp-commit-100m-to-electrify-300-million-africans-by-2030/ https://techeconomy.ng/rockefeller-geapp-commit-100m-to-electrify-300-million-africans-by-2030/#respond Mon, 23 Mar 2026 12:30:32 +0000 https://techeconomy.ng/?p=178287 Quick Read
  • Mission 300 commitment has grown from US$10 million to US$100 million over past 19 months
  • Strengthening delivery capacity, mobilising private investment, accelerating project pipelines, and advancing Mission 300 efforts in nearly two dozen countries

At the Powering Africa Summit in Washington, D.C., The Rockefeller Foundation and the Global Energy Alliance for People and Planet, announced that they have committed more than US$100 million to date to support Mission 300, the World Bank Group and the African Development Bank’s ambitious effort to connect 300 million people in Africa to electricity by 2030.

Since The Rockefeller Foundation and the Alliance announced their first US$10 million for Mission 300 in September 2024, they have helped strengthen government delivery capacity through technical assistance, mobilized private investment, accelerated project pipelines, and advanced electrification efforts in nearly two dozen countries.

Dr. Rajiv J. Shah, President of The Rockefeller Foundation, announced that their joint commitment has increased more than tenfold to US$100 million during a fireside chat with Chris Wright, secretary of the U.S. Department of Energy, where they also discussed the importance of bringing clean cooking support to communities in sub-Saharan Africa – a key priority of Mission 300.

Dr. Kevin Kariuki, vice president for Power, Energy, Climate, and Green Growth at the African Development Bank, said:

“Mission 300 is fundamentally about delivery, and turning ambition into results at scale. Catalytic capital from partners such as The Rockefeller Foundation and the Global Energy Alliance plays a critical role in strengthening government delivery capacity, de-risking investments, and accelerating projects that can mobilize much larger flows of public and private finance.”

“The Rockefeller Foundation has made its biggest-ever bet on connecting people to electricity as the single best pathway out of large-scale poverty,” said Dr. Shah. “Our investment in Mission 300 reflects our commitment to the best way of advancing human well-being in the 21st century: putting countries in the lead, harnessing frontier technology, and focusing relentlessly on achievable, measurable goals. We look forward to working with partners to continue the extraordinary momentum behind Mission 300 and connect even more people in Africa, including its growing youth populations, to jobs, dignity, and prosperity.” 

Currently, 730 million people still lack access to basic electricity, and an estimated 85% of those live in sub-Saharan Africa.

This shortage hinders healthcare, education, digital inclusion, women and children empowerment, the creation of local jobs, building economic opportunity, and more.

According to the Oxford Poverty and Human Development Initiative, lack of access to electricity is the single greatest predictor of extreme poverty.

“Reliable, affordable, abundant electricity is essential for jobs, prosperity, and resilience,” said Woochong Um, CEO of the Global Energy Alliance for People and Planet. “Our Alliance is proud to support Mission 300, bringing together the governments, development banks, philanthropies, non-profits, and private sector partners that can help unlock investment and accelerate delivery. From Compact Delivery and Monitoring Units that help governments implement national energy plans, to distributed renewable energy and productive-use programs, our focus is on ensuring that new electricity connections translate into durable economic opportunity for people and communities across Africa.”

A partnership between The World Bank and the African Development Bank, with support from The Rockefeller Foundation, Global Energy Alliance, and Sustainable Energy for All, Mission 300 translates commitments into implementation through national energy compacts, economy-wide reforms, investment programs, technical assistance, and private-sector mobilization.

Since The Rockefeller Foundation and the Alliance first announced their initial US$10 million commitment, their collective support has grown to more than US$100 million for Mission 300 in 23 countries to date: Benin, Burkina Faso, Democratic Republic of Congo, Chad, Côte d’Ivoire, Ethiopia, Kenya, Lesotho, Liberia, Madagascar, Malawi, Mauritania, Mozambique, Niger, Nigeria, Republic of Congo, Rwanda, Senegal, Sierra Leone, Somalia, Togo, Uganda, and Zambia. With approximately 47% from The Rockefeller Foundation and the Mission 300 Accelerator – an initiative of the Foundation’s public charity, RF Catalytic Capital – and 53% from the Alliance, the US$100 million commitment includes, but is not limited to:

  • Providing technical assistance to more than a dozen National Energy Compact Delivery and Monitoring Units (CDMUs) to help improve countries’ coordination, monitoring, reporting, and implementation capacities, while funding 18 “Mission 300 Fellowships” to assist with CDMU efforts to fast-track electrification efforts.

  • Elevating support for clean cooking solutions in sub-Saharan Africa, where 70% of householdshave no choice but to rely on harmful, polluting fuels such as charcoal and wood to cook their meals by launching the Clean Cooking Accelerator Initiative, piloting a Clean Cooking Delivery Unit in Kenya that is serving as a model for scaling similar initiatives across the continent, and announcing the first four Clean Cooking Fellows will help strengthen the capacity of countries with National Energy Compact Delivery Units to develop investable projects.

  • Expanding the the Global Energy Alliance and CLASP’s Productive Use Financing Facility (PUFF), which provides grants, subsidies, and technical assistance to suppliers and distributors, to lower prices, reach more customers, and accelerate the uptake of clean, energy-efficient appliances that power small businesses, support farmers, and transform the lives of thousands of people across Africa.

  • Advancing African-led energy solutions with support for strengthening interdisciplinary energy systems research and analysis by Africans about Africa through African Energy Futures Initiative and with support for building the next generation of African regulators and energy industry professionals through the African School of Regulation, while helping expand electricity demand and strengthen local energy markets and by providing technical assistance and project preparation.

  • Investing in Zafiri, Mission 300’s permanent capital fund originated by the World Bank and African Development Bank, to provide patient equity in a range of distributed renewable energy programs and investment facilities, while addressing rural electrification challenges, incentivizing developers to stimulate energy demand within the rural communities that they serve, and increasing awareness and funding support for Africa’s off-grid solar sector.

  • Launching a new, more flexible, short-medium-term technical assistance facility that is designed to deploy philanthropic capital swiftly to help accelerate the pace and efficiency of African governments’ and the multilateral development banks’ electricity access projects.

  • Enabling an investment-friendly environment both prior to and since Mission 300’s inception, including from the private sector through the Acumen Hardest to Reach Fund and via the World Bank and African Development Bank trust funds, such as the World Bank’s Distributed Access through Renewable Energy Scale-up (DARES) initiative in West and Central Africa and the African Development Bank’s Sustainable Energy Fund for Africa (SEFA).

  • Aligning support and additional resources for Mission 300 from the Alliance’s Global Leadership Council, a coalition of nearly three dozen global finance, clean energy, and philanthropy leaders co-chaired by Jonas Gahr Støre, Prime Minister of the Kingdom of Norway, and Dr. Shah, President of The Rockefeller Foundation.

Since the World Bank and African Development Bank launched Mission 300 in April 2024, around 44 million people across Africa have been connected to electricity, with a pipeline of tens of millions more by the end of 2026.

In order to define targets, reforms, and investment priorities and accelerate access to affordable, reliable, and sustainable energy by 2030, Mission 300 has supported the launch of National Energy Compacts in 30 countries to date.

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UNGA 80: Global Energy Alliance Pledges $16m to Connect 300 Million Africans to Electricity by 2030 https://techeconomy.ng/unga-80-global-energy-alliance-16m-electricity-access-africa-2030/ https://techeconomy.ng/unga-80-global-energy-alliance-16m-electricity-access-africa-2030/#respond Wed, 24 Sep 2025 10:26:22 +0000 https://techeconomy.ng/?p=167971 At least 600 million people across Africa lack electricity, while many more live with unreliable or unaffordable power. 

To address this, the World Bank and African Development Bank launched Mission 300, a plan designed to connect 300 million Africans to electricity by 2030. 

The Global Energy Alliance for People and Planet (GEAPP) has now pledged $16 million at UNGA 80 to speed up this initiative.

According to GEAPP, the latest commitment is expected to reduce market barriers, strengthen government and community capacity, and open the door to additional investment in clean energy technologies.

Woochong Um, GEAPP’s chief executive, explained the scale. “Our Alliance’s work in Africa, including Mission 300, is proof of what’s possible when governments, business, and philanthropy act together with urgency and purpose—turning ambition into real power, real jobs, and real opportunity for millions across the continent.”

Where the Funds Are Going

The Democratic Republic of Congo will receive the largest share, over $7 million channelled through the Mwinda Fund, managed by GreenMax. This support is set to expand mini- and metro-grid projects and attract nine times more capital, potentially bringing electricity to millions in a country where 70 million people still live without it.

Nigeria has been allocated more than $2 million to scale interconnected mini grids with RMI, with a target of 100MW deployment and a pipeline of 500MW. RMI’s Chief Executive, Jon Creyts, described the move as transformational: 

“Interconnected mini grids are a game-changer for Nigeria’s energy future. By combining on-site renewables with grid power, mini-grids deliver reliable, affordable electricity to underserved communities, reduce reliance on costly diesel, and create new value for developers and utilities. With support from the Energy Alliance, we’re scaling this model to accelerate energy access for millions of Nigerians.”

In Sierra Leone, Madagascar, and Nigeria, $5 million has been earmarked for Odyssey Energy Solutions’ Demand Aggregation for Renewable Technology (DART 3.0). The initiative is expected to pool equipment demand, cut costs, and unlock as much as $125 million in investments. 

“By reducing costs and accelerating deployment timelines, we are creating a more efficient and investable market for distributed renewable energy,” said Emily McAteer, Odyssey’s co-founder and CEO.

South Africa will also benefit through a $1.5 million partnership with its Just Energy Transition Programme Management Unit, aimed at attracting new capital and strengthening the shift to clean power.

A Continent-Wide Push

The Alliance stressed that lack of coordination continues to slow progress in Africa’s energy sector. Carol Koech, GEAPP’s vice president for Africa, said: “The Alliance recognizes the tremendous challenge that energy access poses to communities across Africa, and the lack of coordination is a major brake on progress. We are continuing to align public, private and philanthropic partners to channel resources wherever we can to create the greatest impact.”

Since its launch at COP26 in 2021, Global Energy Alliance for People and Planet (GEAPP) has awarded $503 million in catalytic funding, bringing $7.8 billion in investments. Current projects span more than 30 countries and are projected to deliver electricity to 91 million people, generate 3.1 million jobs, and avoid 296 million tons of CO₂ emissions.

This $16 million pledge sharpens its focus on scaling solutions in fragile and underserved markets, where access to power usually determines whether economies can grow or stall.

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GEAPP Appoints Carol Koech as VP for Africa https://techeconomy.ng/geapp-appoints-carol-koech-as-vp-for-africa/ https://techeconomy.ng/geapp-appoints-carol-koech-as-vp-for-africa/#respond Mon, 04 Aug 2025 12:52:12 +0000 https://techeconomy.ng/?p=164380 The Global Energy Alliance for People and Planet (GEAPP) today announced the appointment of Carol Koech as its new Vice President for Africa, effective August 1, 2025.

In this role, Carol will expand the Alliance’s presence in Africa, strengthening its reach in blended finance mechanisms to make GEAPP a clean energy superpower across the continent.

Carol brings over 20 years of experience in energy access, private-sector transformation, and regional leadership across Africa.

She most recently served as Strategy Director for Sustainability and Thought Leadership at Schneider Electric, where she helped shape the company’s global sustainability initiatives and led programs to expand energy access to more than 50 million people worldwide.

Prior to that, Carol was Schneider Electric’s Country President for East Africa, where she expanded operations across the region, forged partnerships with government and industry, and drove inclusive, sustainable business growth. She has also held senior leadership roles at General Electric and Unilever.

“Carol’s appointment marks a powerful step forward for GEAPP’s work in Africa,” said GEAPP CEO Woochong Um. “She brings a deep understanding of Africa’s energy landscape, a passion for equity and access, and the proven ability to lead through complexity. Her leadership will be central to our alliance of partners delivering on the promise of Mission 300, building multi-stakeholder networks and relationships with key stakeholders, businesses and entrepreneurs – ultimately delivering results that transform lives and economies.”

“I’m honored to join GEAPP and lead this next chapter of impact across Africa,” said Carol Koech. “Access to clean, reliable energy is the foundation of inclusive economic growth. I look forward to working with GEAPP’s strong alliance of partners to implement bold, country-led strategies like Mission 300, empowering communities through job creation and enterprise growth, supporting governments to implement a just transition, and unlocking green growth across the continent.”

With over 600 million people in Sub-Saharan Africa still lacking access to electricity, Carol joins GEAPP at a pivotal moment as the organization scales its efforts to tackle this urgent challenge through transformative initiatives like Mission 300.

This is a public-private-philanthropic ambition led by the World Bank and the African Development Bank with support from GEAPP, the Rockefeller Foundation, SEforALL, and more partners to connect 300 million people to electricity in Sub-Saharan Africa by 2030 while also driving economic growth and job creation.

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GEAPP wins Inaugural WEF Award for Catalyzing Cross-Sector Partnerships to Advance the Energy Transition https://techeconomy.ng/geapp-wins-inaugural-world-economic-forum-award/ https://techeconomy.ng/geapp-wins-inaugural-world-economic-forum-award/#respond Sat, 25 Jan 2025 11:39:35 +0000 https://techeconomy.ng/?p=151867 Highlights:
  • Alliance of 50+ organizations awarded the Catalytic Philanthropic-Public-Private Partnership Award at the World Economic Forum’s inaugural Giving to Amplify Earth Action Awards honoring groundbreaking partnerships tackling global climate and nature challenges
  • GEAPP was recognized for the alliance’s pioneering efforts uniting partners across sectors to develop and scale renewable energy solutions in Asia, Africa, Latin America and the Caribbean

The Global Energy Alliance for People and Planet (GEAPP) has received an inaugural Giving to Amplify Earth Action (GAEA) Award for Philanthropic-Public-Private Partnership at the World Economic Forum, following its partnership of 50+ organizations.

This award recognizes the impact of scalable, innovative collaborations that are leveraging the contributions of philanthropy, government and private sector stakeholders to tackle climate change.

GEAPP was recognized for its efforts in uniting partners across sectors to develop and scale renewable energy solutions in Asia, Africa, Latin America and the Caribbean, including building an Alliance of 50+ partners, mobilizing $1.07 billion to fund 130 projects in 40 countries, averting an estimated 147,000 tons of carbon emissions and supporting the livelihoods of over 2 million people within its first two years.

Woochong Um, CEO of GEAPP said,

“The climate crisis is a global problem that requires global solutions, and GEAPP’s recognition at the inaugural GAEA Awards is a testament to the power of radical collaboration as a key driver of change. Our Alliance is excited to be part of a community of such inspiring peers. We urgently need to build this movement and the resources going towards the opportunity of renewable energy. We look forward to establishing new connections to drive change and accelerate our mission of expanding renewable energy access to one billion people around the world, averting 4 gigatons of carbon emissions and enabling 150 million sustainable livelihoods through job creation and the productive use of energy.”

GEAPP’s Alliance model pioneers transformational clean energy projects across emerging markets to support global ambitions to achieve a sustainable future for all.

Through the deployment of blended finance and flexible capital solutions to address market barriers, GEAPP maximizes the power of catalytic capital, bringing together multilateral development banks, governments, private sector, non-governmental organizations, communities and philanthropies, unlocking commercial and public financing.

In 2023, GEAPP launched the Battery Energy Storage Systems (BESS) Consortium, a multi-stakeholder partnership of countries and resource partners to expand battery storage capacity in lower- and middle-income countries.

Battery storage systems are a central component to increasing the reliability of grids and accommodating the variable renewable energy sources that are needed to power economic development. To date, more than 15 countries and 20 resource partners have committed to the Consortium, which is fast tracking flagship projects in every region and aggregating additional pipelines.

The BESS Consortium is just one example of the radical collaboration and bold action that enables the Alliance to foster a people-positive energy revolution that places prosperity for people and the planet at the heart of climate action.

In 2024, GEAPP and the Government of Malawi launched the construction of a 20 MW battery energy storage system (BESS) in Malawi.

This project is a beacon of hope and resilience for Malawi which aspires to achieve universal electricity access with a grid contributing at least 50% of the country’s electricity by 2030.

GEAPP has committed up to $20 million in grant funding to enable the design, installation, and operation of the Alliance’s first BESS project in Africa.

The project will significantly reduce power outages and enhance the reliability and stability of clean energy for houses, industries, and critical public infrastructure, including hospitals, schools, and water supply systems connected to Malawi’s national grid.

Other work centers around distributed renewable energy (DRE) initiatives, including GEAPP’s technical assistance program within Mission 300 – an ambitious project launched jointly by the World Bank and the Africa Development Bank to bring energy to 300 million people in Africa by the end of the decade.

Through this work and a focus on jobs and livelihoods, GEAPP is delivering on its mission of reducing energy poverty and creating sustainable opportunities for all.

GEAPP has won the Catalytic Philanthropic-Public-Private Partnership Award at the World Economic Forum on the eve of the World Bank and African development bank-led Mission 300 Africa Energy Summit.

GEAPP is a key supporting partner of the major global gathering to convene heads of state from across Africa, private sector investors, multilateral development banks, philanthropies, and partners committed to mobilize an unprecedented level of support to connect 300 million people in Africa to electricity by 2030.

The Giving to Amplify Earth Action (GAEA) Awards recognize groundbreaking partnerships, like GEAPP, that are tackling global climate and nature challenges with innovative, scalable solutions.

From over 120 initial nominations, the winners were selected by an expert independent jury comprised of leading experts from across the climate and nature ecosystem.

In addition to GEAPP, four other awardees were honored for pioneering, adaptable, impact-driven efforts in science, innovation, business action, and intergenerational leadership.

As an awardee, GEAPP will join the GAEA Awards community, gaining access to a global network that will help raise the Alliance’s profile and mobilize new partnerships.

GEAPP will also receive tailored support from the Forum alongside a cross-sector community of experts to scale impact and drive systems-wide change.

“The GAEA Awards recognize institutions and partnerships that are catalyzing transformative change for climate and nature,” said Gim Huay Neo, managing director, World Economic Forum. “By showcasing successful innovations and collaborations across industry partners, and between government, business and civil society, we hope to inspire more to step forward and work together to shape a sustainable future for all.”

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GEAPP, Rockefeller Foundation, SEforALL Advance W’Bank and AfDB Mission to Electrify 300 Million in Africa https://techeconomy.ng/geapp-rockefeller-foundation-seforall-advance-wbank-and-afdb-mission-to-electrify-300-million-in-africa/ https://techeconomy.ng/geapp-rockefeller-foundation-seforall-advance-wbank-and-afdb-mission-to-electrify-300-million-in-africa/#comments Wed, 02 Oct 2024 16:20:56 +0000 https://techeconomy.ng/?p=144480 Ahead of Climate Week NYC, the Global Energy Alliance for People and Planet (GEAPP), Sustainable Energy for All (SEforALL), and The Rockefeller Foundation announced support for “Mission 300” (M300), an ambitious World Bank Group and African Development Bank (AfDB) initiative launched in April 2024 to provide improved electricity access to 300 million Africans by 2030.

This collaboration includes launching a new technical assistance (TA) facility, standing up an M300 Leadership Group with the AfDB and World Bank, and activating private-sector financing for electrification programs in Africa.

By aligning resources, expertise, and advocacy efforts, the partners aim to build and sustain momentum for the World Bank’s and AfDB’s ambition to transform energy access and reach approximately half of the continent’s population currently without power.

  • “The partnership of the World Bank Group and the African Development Bank Group to connect 300 million people in Africa to electricity is a game changer for Africa.  No economy can grow, industrialize or be competitive in the dark without electricity. Our partnership is further bolstered by the support of GEAPP, The Rockefeller Foundation, and SE4ALL, as we collectively drive towards the goal of supporting Africa to achieve universal access to electricity”,  ― Akinwumi Adesina, President of the African Development Bank Group.

 

  • “Access to electricity is a fundamental human right that is foundational to development. Achieving our shared objective of expanding electricity access to 300 million in Africa will require a broad coalition that must keep growing. We need action from governments, financing from multilateral development banks, and investment from the private sector.  Together with GEAPP, The Rockefeller Foundation, and SEforALL, we are strengthening our partnership to support projects on the ground and accelerate the pace of electrification.” ― Ajay Banga, President of the World Bank Group

The Rockefeller Foundation and GEAPP are committing an initial $10 million for a new, more flexible, short-medium-term TA facility that is designed to deploy philanthropic capital swiftly in support of African governments’ and the multilateral development banks’ (MDBs) efforts to accelerate the pace and efficiency of electricity access projects.

They are announcing provisional approval of $10 million for approximately 15 projects in 11 countries – Burkina Faso, Chad, Côte d’Ivoire, Democratic Republic of Congo, Liberia, Madagascar, Malawi, Mozambique, Nigeria, Tanzania, and Zambia – and across the Common Market for Eastern and Southern Africa (COMESA), which is the largest regional economic organization in Africa.

Dr. Rajiv J. Shah, President of The Rockefeller Foundation, said:

“Whether our collective future is defined by crisis or opportunity depends on big bets like Mission 300—the most important global undertaking in decades. Empowering 300 million Africans by 2030 will require us to more than double the current speed of electrification. That is only possible if we try new things, working in new ways with new partners at a scale previously unimaginable. This growing public-private alliance will prove what’s possible.”

Receiving nearly three dozen requests for technical assistance since August, the TA facility builds upon the innovative capacities at The Rockefeller Foundation’s public charity, RF Catalytic Capital (RFCC), and GEAPP, which has more than 50% of its current portfolio by value invested in Africa.

This includes 63 projects in more than 20 African countries, and GEAPP is already working intensively with the AfDB and World Bank to design and accelerate electrification efforts in several African markets.

Woochong Um, CEO of the Global Energy Alliance for People and Planet, said:

“GEAPP is proud to work with our Alliance partners, the World Bank and African Development Bank, to scale Mission 300. This groundbreaking initiative is why our Alliance was created: collaboration is essential to achieving universal clean energy access, reducing carbon emissions and supporting livelihoods. As we mobilize resources and expertise to accelerate electrification efforts across Africa, we recognize that transformative progress requires more than just financial investment—it demands unparalleled collaboration and innovation. Our alliance is setting a new standard for how the world can come together to address global energy and climate challenges in developing economies. Together, we can drive a more equitable and sustainable energy future for all.”

A joint governance body was also created to help drive accountability across stakeholders, monitor progress, and ensure that nimble operational structures are being enabled and that resources are aligned to deliver accelerated country-led results.

The group is co-chaired by the CEO of SEforALL, Damilola Ogunbiyi, and it includes senior leaders from the AfDB, World Bank, GEAPP, and The Rockefeller Foundation.

Ms. Ogunbiyi, SEforALL CEO who is also Special Representative of the UN Secretary-General for Sustainable Energy for All and Co-Chair of UN-Energy, said: 

“Ensuring that everyone everywhere has access to energy is not just a matter of convenience; it is a cornerstone of human dignity, equality, and opportunity. This is why at Sustainable Energy for All, we push for higher ambitions, stronger policies, greater finance flows, increased localization and green jobs, and faster results that leave no one behind. Mission 300 is an unparalleled opportunity to electrify Africa’s future and power a brighter tomorrow, and I call on all stakeholders to join this initiative to guarantee its success.”

Alongside the new TA Facility, GEAPP, SEforALL, The Rockefeller Foundation, RFCC, and other partners are co-developing additional initiatives to help advance M300 across productive use of energy, local currency financing, support to developers, pooled procurement, and global advocacy.

In addition, Andrew Herscowitz, the former head of Power Africa, has been appointed Chief Executive Officer of the M300 Accelerator to help coordinate and accelerate progress on the M300 effort through RFCC. In collaboration with GEAPP and SEforALL, the M300 Accelerator is supporting AfDB and World Bank efforts to secure energy compact signings with African governments and providing assistance through the new TA Facility, while laying the groundwork to scale assistance across all sub-Saharan African countries over the coming years.

Electrifying 300 million people in Africa will create jobs, drive economic development, and reduce poverty overall. The partners aim to unlock a capital stack of at least $90 billion from MDBs, development agencies, finance institutions, private businesses, and philanthropy.

In response to the immediate funding needs, the organizations are also supporting a global advocacy effort to educate on the impact of securing robust replenishment of the International Development Association (IDA), the World Bank’s concessional arm for low-income countries, and the AfDB’s African Development Fund (ADF).

Robust replenishments of IDA and ADF, which are supported by sovereign governments, could include $120 billion in commitments for the Final Pledging and Replenishment Meeting (Dec. 5-6 in South Korea), as called for in April by African countries eligible for IDA assistance, and a $25 billion ADF replenishment in 2025.

By providing grants and low-interest loans to countries seeking to invest in their futures, IDA and ADF are valuable vehicles through which to fund key elements of the M300 effort.

Another source of funding for the World Bank and AFDB could flow through the International Monetary Fund’s Resilience and Sustainability Trust (RST), which helps low-income and vulnerable middle-income countries build resilience to external shocks and ensure sustainable growth, contributing to their longer-term balance of payments stability.

[Featured Photo Credit]

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Shortlist and GEAPP Unveil Empowering Women in Clean Energy Report https://techeconomy.ng/shortlist-and-geapp-unveil-empowering-women-in-clean-energy-report/ https://techeconomy.ng/shortlist-and-geapp-unveil-empowering-women-in-clean-energy-report/#respond Mon, 04 Mar 2024 19:00:28 +0000 https://techeconomy.ng/?p=126510 Shortlist and the Global Energy Alliance for People and Planet (GEAPP) released “Empowering Women in Clean Energy: Advancing and Retaining an Equitable Workforce,” a report highlighting new data on the experiences of women in the clean energy sector in Africa.

The data, collected from over 150 professionals across sub-Saharan Africa, provides insights on the causes of gender inequity in the traditionally male-dominated industry.

The report also features the sector’s first pay equity analysis, revealing the positive but unequal impact of job training and placement programs on salaries in the industry.

This report builds on the September 2023 publication, “Bottlenecks and Breakthroughs: Advancing Gender Equity in African Clean Energy,” which investigated the talent pipeline and recruitment barriers for women entering clean energy jobs, and focuses on workplace challenges that limit women’s advancement and retention once they have entered the sector.

Women remain severely under-represented across levels of management in clean energy companies. Previous research shows that women hold only a quarter of leadership and manager roles at renewable energy companies in sub-Saharan Africa.

“Empowering Women in Clean Energy” synthesizes insights from women in the field and presents recommendations for better outcomes, including structured training, mentorship and coaching programs, transparent pathways to promotion, flexible maternity leave policies and access to female role models.

“As investments in climate and clean energy grow in Africa, we need to pay serious attention to female labor force participation in green jobs,” said Ciara Remerscheid, director of Shortlist Futures, and author of the report. “This report provides a blueprint for clean energy companies to harness the talent of women throughout their organizations.”

The reports were funded by GEAPP as part of the “Women for Green Jobs” (W4GJ) program implemented by Shortlist with support from Value for Women.

The aim of W4GJ is to help more women access and succeed in clean energy careers in Africa, specifically targeting job placements, career support and employer-level interventions across the Democratic Republic of Congo, Ethiopia, Kenya, Malawi, Nigeria, Sierra Leone and Uganda.

This program works with over forty clean energy companies, including Husk Power, Nuru, Sistema.bio and Sun King, to support their growth by addressing equitable hiring challenges.

“Women experience the greatest repercussions of climate change, which amplifies existing gender inequalities. A powerful transformation is underway in the African clean energy sector, as companies are making explicit efforts to hire and retain women at every level,” said Makena Ireri, director of Demand Jobs and Livelihoods at GEAPP. “As we work to further an equitable green energy transition, we see an unprecedented opportunity to drive greater job and economic opportunities for women,  youth and  low-income communities.”

“Empowering Women in Clean Energy: Advancing and Retaining an Equitable Workforce” features a gender pay equity analysis of clean energy professionals that have been placed in the W4GJ program over the past five years.

The analysis finds that third-party training and placement programs such as W4GJ play a crucial role in boosting compensation parity between male and female employees.

While the W4GJ program increased incomes for female candidates in absolute terms, we found that when compared to male peers in the sectors, hourly earnings for men accelerated at a faster pace than women, particularly after the program intervention.

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GEAPP GLC Powers Ahead to Accelerate Affordable Clean Energy for All https://techeconomy.ng/geapp-glc-powers-ahead-to-accelerate-affordable-clean-energy-for-all/ https://techeconomy.ng/geapp-glc-powers-ahead-to-accelerate-affordable-clean-energy-for-all/#comments Sat, 07 Oct 2023 07:11:33 +0000 https://techeconomy.ng/?p=115179
  • Battery Energy Storage Systems (BESS) Consortium on track to mobilize 5 gigawatts (GW) of storage in up to 30 countries.
  • Strong progress against commitments to significantly scale the Distributed Renewable Energy (DRE) sector to power the lives and livelihoods of 500 million people.
  • The Global Leadership Council (GLC) of the Global Energy Alliance for People and Planet (GEAPP) recently convened on the sidelines of UNGA 78 to review progress against its two signature initiatives: first, to mobilize 5 GW of accelerated commitments to Battery Energy Storage Systems (BESS); and second, to enable large-scale aggregation in the distributed renewable energy (DRE) sector, with the near-term target of securing a $500 million pooled procurement order by end 2024.

    These are crucial steps to unlock an estimated 90 GW market for BESS in Africa, Asia, Latin America, and the Caribbean and lowering the average price of DRE power from more than $0.5/kWh in most contexts today, to below $.25/kWh within five years.

    Together, these initiatives have the potential to transform the pace at which energy poverty can be alleviated.

    Currently, global power systems are not serving the people who most desperately need energy; 3.6 billion people still live in energy poverty today, and of those, 760 million have no electricity and 2.8 billion have costly, unreliable access.

    “The GLC is working together to tackle the barriers to renewable energy adoption in low-and-middle-income countries, said GLC Co-Chair, Jonas Gahr Støre, Prime Minister of the Kingdom of Norway. “We need a more ambitious and inclusive renewable energy agenda globally, and to deliver this it is critical to find partners, secure funding from new sources and encourage creativity.”

    The Battery Energy Storage Systems (BESS) Consortium is a multi-stakeholder partnership set up to galvanize a transformation of energy systems in Africa, Asia, Latin America, and the Caribbean via expanded deployment of battery energy storage. The objectives of the Consortium are to:

    –        Secure 5 GW of BESS commitments by the end of 2024

    –        Mobilize more than $4 billion in grant, concessional, and commercial finance to accelerate project deployment

    –        Unlock the 90 GW deployment needed by the end of this decade to enable 400 GW of renewable energy that avoids a gigaton of carbon dioxide emissions

    The Distributed Renewable Energy (DRE) Scale-Up Initiative focuses on enabling collective action to unleash the market potential in developing countries, bringing affordable and reliable power to nearly half a billion people who remain unserved by traditional electricity grids. The objectives of the initiative are to:

    –        Develop a 500 MW pipeline of procurement in three to four key markets by Q4 2024

    –        Enable order volumes for DRE technologies totaling $500 million by Q4 2024

    “As GEAPP approaches its second birthday, the GLC provides a critical role in delivering scale, urgency, and connectivity to our initiatives,” said Simon Harford, CEO of GEAPP. “Whether that’s GEAPP facilitating the first wave of BESS in India, or our investment in the private sector development of solar metro grids in eastern DRC, the GLC champions our efforts and amplifies our reach as the climate emergency continues to take hold.”

    “Renewable energy is out of reach for too many people. Extending access to affordable and stable clean energy is a crucial component of our climate solution,” said Ajay Banga, President of the World Bank. “The World Bank supports the efforts of GEAPP’s Global Leadership Council to address these challenges, and we must continue to move with even more urgency and scale.”

    “Tackling the existential threat of climate change requires urgent and bold leadership. That is why I am energized by the GLC’s mission and ability to connect leaders across the globe,” said Dr. Ngozi Okonjo-Iweala, Director General of the World Trade Organization. “This work is helping to facilitate the just energy transition that the world needs, I encourage the GLC to continue on their path forward with even more urgency, scale, and action.’’

    “Five months ago, the GLC made one of the world’s largest collective commitments to significantly reduce the cost of renewable energy technologies. We will mobilize 100 GWh of accelerated BESS by 2030, and today we are many steps closer to identifying the ‘first-mover’ countries who will spearhead this work. This is the kind of collaboration we must see more of,” said GLC Co-Chair, Dr. Rajiv J. Shah, President of The Rockefeller Foundation.

    “600 million Africans have no access to electricity. To close this gap, we need bolder approaches that work at scale and can reach hundreds of millions of people such as the Desert to Power Initiative”, said Dr. Akinwumi A. Adesina, President of the African Development Bank Group. “In Africa, the cost of capital for utility-scale clean energy projects is at least two to three times higher than in advanced economies. Today, we discussed how the GLC can help overcome the political, technical, and financial barriers that lead to these asymmetries, and accelerate universal energy access.’’

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    Nithio Invests in SunCulture to Drive Solar Irrigation, Farming Innovations Across Africa   https://techeconomy.ng/nithio-invests-in-sunculture-to-drive-solar-irrigation-farming-innovations-across-africa/ https://techeconomy.ng/nithio-invests-in-sunculture-to-drive-solar-irrigation-farming-innovations-across-africa/#respond Tue, 26 Sep 2023 09:11:16 +0000 https://techeconomy.ng/?p=114099 Nithio, a leading energy finance platform in Africa, has announced an investment in SunCulture, an industry leader in solar irrigation and farming technology solutions.

    Nithio’s investment, made through its investment vehicle, Nithio FI, is part of the Productive Use Appliance Financing Facility (PUAFF), which catalyzes the uptake of productive use appliances across Africa.

    PUAFF is managed by CLASP, an international non-profit organization that improves the energy and environmental performance of appliances and equipment, and Nithio, and supported by the Global Energy Alliance for People and Planet (GEAPP).

    Nithio’s investment is part of a $12m syndicated debt facility led by Mirova Sunfunder and financed through its Solar Energy Transformation Fund), Mirova (through its Gigaton strategy) and Triodos Investment Management, which together will enable SunCulture to finance inventory and receivables for its Kenyan subsidiary across its productive-use renewable energy products, related appliances and  irrigation equipment.

    This will allow SunCulture to reach more customers, especially smallholder farmers who need affordable and reliable access to energy and water for their livelihoods.

    Kate Steel, Nithio CEO, said:

    “We are delighted to partner with SunCulture, a pioneer and innovator in the solar irrigation and farming technology sector. SunCulture’s products have a proven impact on increasing agricultural productivity, income, and resilience for smallholder farmers. Through our investment, we aim to support SunCulture’s growth and scale, and contribute to the broader mission of GEAPP  to accelerate the adoption of productive use appliances in Africa.”

    SunCulture was founded in 2012 to help solve the daily challenges that smallholder farmers endure including time-consuming manual irrigation or reliance on the increasingly unpredictable rains for their crops.

    Since then, they have designed, manufactured, financed, and serviced IoT-enabled solar energy systems and irrigation equipment for smallholder farmers allowing farmers to spend less while growing more.

    Samir Ibrahim, SunCulture CEO
    Samir Ibrahim, SunCulture CEO

    This has led to SunCulture being able to: Offer both cash sales and Pay-As-You-Grow financing through their direct sales channels and distributors; sell over 45,000+ units to date; offer VeraSol tested non-battery and battery equipped solar irrigation systems; and expand into new sales regions through direct international market entrance, joint ventures, and government partnerships.

    Samir Ibrahim, SunCulture CEO, said:

    “Through this support, SunCulture is  primed to deepen its footprint within Kenya, responding to the urgent calls for food security, poverty alleviation, and climate resilience. This partnership empowers SunCulture to place game-changing tools in the hands of vulnerable smallholder farmers, supporting climate mitigation and adaptation at the individual, community, and national levels. SunCulture is pleased to partner with Nithio as we continue to pursue the highest standards in credit risk assessment and consumer credit management, which are key enablers of SunCulture’s overall objectives.”

    PUAFF’s mission is to increase access to high-quality productive use appliances that enhance the economic opportunities and well-being of off- and weak-grid consumers.

    The facility offers procurement subsidies, capacity building grants, distributor debt financing, and advisory support focused on credit systems development for Productive Use Appliance (PUA) companies and distributors. PUAs eligible in the facility include energy-efficient, income-generating appliances such as refrigerators, solar water pumps, agro-processing equipment, sewing machines, etc.

    The recent recognition of 18 companies through procurement subsidies and capacity-building grants in East, West, and Central Africa highlights PUAFF’s commitment to catalyzing positive change. PUAFF’s financing will reduce the cost of appliances for end-users by offering discounts on bulk solar appliance purchases and providing financing to distributors, allowing them to offer products on credit.

    Makena Ireri, Director of Demand, Jobs, and Livelihoods at GEAPP, states, “the initiative aligns with our mission of promoting sustainable energy solutions that will avert future carbon emissions, while enabling increased access to clean energy and improving livelihoods through economic growth. By lowering the cost of high quality, energy efficient appliances and providing financing, we’re enabling jobs and livelihoods for thousands of people supporting a low-carbon future.”

    Nithio’s investment in SunCulture marks a significant stride towards transforming the landscape of solar irrigation and farming technology in Africa.

    Supported by GEAPP, this collaboration will drive innovation, sustainability, and prosperity across the region.

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    UAE Carbon Alliance to Purchase $450 million in African Carbon Credits by 2030 https://techeconomy.ng/uae-carbon-alliance-to-purchase-450-million-in-african-carbon-credits-by-2030/ https://techeconomy.ng/uae-carbon-alliance-to-purchase-450-million-in-african-carbon-credits-by-2030/#respond Tue, 05 Sep 2023 16:02:47 +0000 https://techeconomy.ng/?p=112307
  • The pledge by the UAE Carbon Alliance seeks to connect the high-integrity supply of African carbon credits to high demand from the Middle East.
  • The UAE Carbon Alliance, chaired by Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, President and CEO of the UAE Independent Climate Change Accelerators (UICCA), has signed a non-binding Letter of Intent with the Africa Carbon Markets Initiative’s Advance Market Signal to pledge an indicative intended purchase of US$450 million in African carbon credits by 2030.

    The Africa Carbon Markets Initiative (ACMI) is a collaborative effort incubated by Sustainable Energy for All (SEforALL), the Global Energy Alliance for People and Planet (GEAPP), and The Rockefeller Foundation, and rolled out in partnership with the United Nations Economic Commission for Africa (UNECA) and the UN Climate Change High-Level Champions.

    Launched during COP27, the initiative aims to create, amplify, and sustain the next generation of high integrity carbon credits in Africa with the ambition to reduce emissions and bring transparency and integrity to voluntary carbon markets in the region. Signatories under ACMI’s Advance Market Signal represent the carbon market buyers and investors interested in purchasing African carbon credits to support the development of African carbon markets.

    Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, President & CEO of UICCA, said: “As we navigate the climate crisis, carbon markets stand as a pivotal tool in our decarbonisation journey. The UAE Carbon Alliance aspires to aggregate demand for high-quality carbon credits from the UAE; demand which already exceeds the supply available from the UAE alone. Our collaboration with the Africa Carbon Markets Initiative provides carbon market buyers in the UAE and wider region with access to high-quality carbon credits in Africa. This does not only help to unlock Africa’s carbon credit generation potential, but also supports sustainable investment opportunities and long-term climate impact. Through this pledge, we hope to foster more integrated and efficient carbon market mechanisms between our two regions.” 

    Paul Muthaura, CEO of ACMI, said: “We are thrilled to announce this critical signal from the United Arab Emirates Independent Climate Change Accelerators (UICCA), which amplifies the ACMI mission to build integrity via transparency and accountability for high-integrity carbon credits in Africa.  We seek to promote a conducive environment, across continental jurisdictions, that bridges the demand from the Middle East, among others, with Africa’s potential for high integrity supply. UICCA’s pledge is a testament to the opportunity created through international cooperation in addressing climate change. Together, we aim to create a sustainable, transparent, and equitable carbon market ecosystem in Africa that will drive significant positive impact for our continent and the world.”

    To date, the current signatories under ACMI’s Advance Market Signal include Standard Chartered, Vertree, ETG and Nando’s, with an estimated US$200 million collected for purchase of African carbon credits by 2030. ACMI is aligned with the Integrity Council for Voluntary Carbon Market’s Core Carbon Principles, the Science Based Targets initiative (SBTi), and the Voluntary Carbon Markets Integrity Initiative’s recommendations.

    The UAE Carbon Alliance is a coalition of partners dedicated to advancing the development of a carbon market ecosystem. Chaired by Her Highness Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, its founding members include AirCarbon Exchange (ACX), First Abu Dhabi Bank (FAB), Mubadala Investment Company (Mubadala), Abu Dhabi National Energy Company (TAQA) and Abu Dhabi Future Energy Company (Masdar), in addition to UICCA as its secretariat.

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