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.

The discussion took place during the Sustainable Energy for All (SEforALL) Forum, where both leaders discussed the importance of enhancing economic collaboration and improving the movement of goods and people between Africa and the Caribbean.

They reaffirmed their focus on deepening Africa-Caribbean ties, recognizing the historical and economic bonds that unite the regions.

Trade between Nigeria and Barbados goes way back. In 2023, Barbados exported goods such as delivery trucks, paper containers, and coated fabric garments worth $10.8 thousand to Nigeria, Nigeria exported hair, and beauty products, as well as non-knit women’s suits worth $8.45 thousand to Barbados.

Added to these, the Caribbean Export Development Agency signed a Memorandum of Understanding with Nigeria in 2023, to boost trade, investment and opportunities for small and medium-sized enterprises (SMEs) in both countries.

With both leaders reaffirming their commitment to strengthen collaboration, and an emphasis on shared history and economic aspirations, the possibilities of cooperation and growth continue to expand, providing fresh opportunities for businesses and citizens.

• The DRE Nigeria Fund is the first country-focused DRE fund established under the DRE Africa Platform which will develop and invest in distributed renewable projects across Africa.
• The commitment by the partners aligns with the Mission 300 goal to connect 300 million Africans to electricity by 2030.  

The Nigeria Sovereign Investment Authority (NSIA), Sustainable Energy for All (SEforALL), the International Solar Alliance (ISA) and Africa50 today announced an innovative partnership for a US$500 million DRE Nigeria Fund to develop and finance distributed renewable energy (DRE) projects in Nigeria. NSIA, SEforALL and Africa50 signed the Fund’s Heads of Terms agreement at the SEforALL Global Forum in Barbados.

The aim of the DRE Nigeria Fund is to raise financing to offer tailored financial instruments and attract private sector capital while addressing critical challenges such as currency volatility, tariff structures, and the limited availability of local currency financing options.

Targeted investments will support mini-grids, solar home systems, commercial and industrial (C&I) power solutions, embedded generation projects, and innovative energy storage technologies.

This will ensure more reliable and cost-effective power access for Nigerian homes and businesses. A key objective of the Nigeria DRE Fund is to catalyze local currency funding from pension funds, insurance companies, and other local institutional investors.

Damilola Ogunbiyi CEO and SRSG for Sustainable Energy for All said the following:

“The launch of the DRE Nigeria Fund marks a pivotal moment in our collective efforts to address Africa’s energy access challenges. This Fund will attract the long-term patient capital required to scale projects, especially from institutional investors. With the Fund’s targeted focus on scaling up decentralized energy solutions, we are one step closer to achieving universal energy access across Nigeria”.

The DRE Nigeria Fund, co-managed by Africa50 and NSIA, would serve as a model for other country-specific funds across the continent that are expected to be launched under the DRE Africa Platform.

In his remarks during the launch, Mr. Aminu Umar-Sadiq, MD & CEO, NSIA emphasized the fund’s strategic importance,

“The DRE Africa Platform represents another major step in our commitment to unlocking Africa’s renewable energy potential. With the DRE Nigeria Fund, we are creating a scalable model to attract global investments, drive industrial development, and enhance energy access for millions of Nigerians and Africans at large. This initiative underscores our belief that sustainable infrastructure is critical to economic transformation, and we are proud to collaborate with SEforALL, ISA, and Africa50 to turn this vision into reality.” 

The DRE Nigeria Fund is expected to benefit from catalytic capital from the International Solar Alliance, through the recently announced Africa Solar Facility.

Sharing his congratulations on the announcement and expressing solidarity with the partners and the mission, Mr. Ashish Khanna, director General-Elect of the International Solar Alliance, said, “Mobilizing private investments and promoting catalytic finance through grants and equity is the key to a sustainable, energy-secure future for the Africa region which currently receives only 3% of global solar investments. We’ll begin with Nigerian homes and businesses and then take it to all countries of the continent.”

Also commenting on the announcement, Alain Ebobisse, Africa50 CEO said in his remarks: 

“This is a strong partnership with solid partners which can be a game-changer in accelerating investment in distributed renewable energy across Africa. This innovative collaboration aims to unlock the right financing instruments to fund projects at scale and help solve the energy access gap in Africa, bringing power to millions of Africans, driving economic growth for businesses and communities across the continent”. He added, “We look forward to welcoming additional partners to the platform in the near future.

The Fund’s core value lies in mobilizing institutional capital and fostering partnerships with the Nigerian government and private sector to scale renewable energy investments.

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.

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The event showcased proven solutions to deliver progress on a just and equitable energy transition, with two important global initiatives focused on mobilising finance and distributed renewable energy solutions as key levers to ending energy poverty and ensuring emerging and developing countries are equipped to transition their energy systems in a just and equitable manner, being unveiled.

This event, which saw key leaders including Amina J. Mohammed, Deputy Secretary General of the United Nations; H.E. Birame Soulèye Diop, Senegal’s Minister of Energy, Oil and Mines; Ambassador André Aranha Corrêa do Lago, Brazil’s Secretary for Climate, Energy and Environment; and Damilola Ogunbiyi, CEO and Special Representative to the UN Secretary-General for Sustainable Energy; among others, calling on global leaders to increase the scale and ambition of sustainable energy investments and projects.

Ambassador Corrêa do Lago also announced the SEforALL Global Forum in Barbados taking place from 12 – 13 March 2025 as the first official milestone on the road to COP30.

Simultaneously, the strategic role of Energy Compacts in advancing global energy transitions, particularly the Brazilian Government’s efforts to establish voluntary principles for a just and equitable energy transition, encouraging governments and non-state actors to turn these principles into tangible action, was highlighted.

The principles will be captured in the G20 Just Energy Transition Compact, which is led by Brazil and the G20, with the support of SEforALL, marking a critical step toward a sustainable, inclusive energy transition.

To close energy access gaps in underserved regions, the World Bank Group and African Development Bank’s bold partnership to bring electricity to 300 million people in Africa by 2030, was highlighted.

SEforALL is one of three implementing partners in this effort, dubbed Mission 300, that will deploy targeted investments and scalable energy solutions where they are most needed.

In addition, the event looked at solutions to bridge energy access gaps that go beyond traditional power grids.

Practical ways to scale-up distributed renewable energy (DRE) systems, through innovative public-private collaborations and financial frameworks that help crowd in private capital from various pools of investors and financiers.

The focus will remain on Africa next week as SEforALL co-hosts the G20-Africa Ministerial on 3rd October aimed at fostering stronger ties between the G20 and Africa, with a shared goal of securing financing to support a just and equitable energy transition across the African continent.

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.

Energy Compacts are voluntary commitments to Sustainable Development Goal 7 (SDG7) – access to affordable, reliable, clean and modern energy – with specific, trackable actions to advance progress on the energy transition and net-zero emissions.

SEforALL spearheaded the process as a key outcome to the UN High-level Dialogue on Energy and COP26 in 2021.

Key points:

Specifically, Husk Power Systems’ compact put forward seven goals for the year 2030:

• Building at least 5,000 minigrids
• Establishing 1 million connections
• Powering 500,000 micro, small and medium-sized enterprises (MSMEs)
• Benefitting 11 million people
• Installing 500MW of rural commercial & industrial (C&I) solar 
• Selling 5 million energy efficient appliances
• Avoiding 7Mt of CO2

According to the World Bank, minigrids have the potential to provide power to nearly 500 million people.

To do that, over 200,000 minigrids and $200 billion would be needed. However, today there are only 19,000 minigrids globally and the industry has only attracted $5 billion.

“The minigrid industry is starting to scale and is demonstrating significant socio-economic impact, but we still have a long way to go to reach our full potential,” said Husk Power Systems CEO and Co-founder Manoj Sinha. “Our compact with the UN is intended to put forward a more ambitious vision not only for Husk, but the entire minigrid industry and by doing so, to mobilize a much higher level of climate finance and more supportive government regulation and policy.”

Added Kanika Chawla, UN Energy and SEforALL programme manager: “We welcome the Energy Compact commitments made by Husk Power and appreciate their leadership. It showcases the business opportunity presented by the global energy transition, and how private enterprises can drive accelerated action on ending energy poverty, expand renewable energy solutions for consumptive and productive load, and improve the adoption of energy efficiency solutions by end consumers.”