IN COLLABORATION WITH OUR PARTNERS
WE WILL SHARE TERM SHEETS FOR THE PROJECT FINANCE CONTRACTS IN MAY 2021
WE WILL SHARE A TEMPLATE PROJECT FINANCE MODEL IN MAY 2021
WE ARE CONVENING AN INVESTOR GROUP TO ITERATE AND IMPROVE ON OUR APPROACH IN Q1 2021
WHY ARE WE DOING THIS?
There are less than 10 years left to achieve universal energy access in Africa. Up until now, the continent has relied mostly on the main grid, which is responsible for supplying power to 96% of the 481 million people with electricity on the continent.
Our geospatial analysis shows that mini-grids are already the least cost method to bring power to 100 million people in Africa. According to the International Energy Agency (IEA), mini-grids are the least cost method to connect over 260 million people in Africa by 2030.
HOWEVER, MINI-GRIDS ARE NOT YET ATTRACTING THE CAPITAL THEY NEED
Mini-grid companies have only managed to raise 0.1% of the capital the IEA forecasts needs to be mobilized into the mini-grid sector to achieve universal energy access by 2030.
We need a new model of financing that allows infrastructure capital to flow into the underlying assets, unlocking access to the $1 trillion infrastructure capital markets.
WE ARE OPEN SOURCING OUR FINANCING MODEL SO OTHERS CAN IMPROVE ON IT.
We can converge on financing solutions to achieve SDG7 if we act swiftly, and if we act together.