REPP calling for Developers of Utility-Scale Renewable Energy Projects (Africa)
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/