Photo credit: www.irena.org
Project developers in APRA countries* are encouraged to apply for inclusion at the Forum
The Accelerated Partnership for Renewables in Africa (APRA), in collaboration with Kenya and the International Renewable Energy Agency (IRENA), is set to host an investment forum from September 1 to 5, 2024. This important event aims to foster connections among project developers, investors, and financial institutions to enhance investment prospects in renewable energy and related supply chain initiatives across APRA member nations.
Project developers operating or intending to launch initiatives in the APRA countries are invited to apply to be part of this forum. Those selected will have the unique opportunity to participate in matchmaking sessions that pair them with potential investors and lenders, thereby increasing their chances for securing funding.
Applications can be submitted here.
An analysis conducted by IRENA, at the request of the Italian G7 Presidency, highlighted a troubling decline in public financing directed at the energy sector in Africa. The current landscape lacks the necessary conditions for low-cost financing, a situation that must be addressed. The G7 Ministers recently acknowledged this pressing issue in their communiqué from the Climate, Energy, and Environment meeting, emphasizing the need for enhanced efforts in Africa through collaborative partnerships and reaffirming their support for APRA.
This forum will not only serve as a platform for dialogue among governments, investors, and financiers but will also be pivotal in creating a supportive investment environment for a renewable energy transition. Key topics will include green industrialization as outlined in the Nairobi Declaration, focusing on energy infrastructure, involvement of the private sector, development of supply chains, local value generation, skill-building—especially for youth—and actionable strategies to meet these objectives.
Furthermore, the APRA Investment Forum will explore ways to lower investment barriers. Discussions will touch on necessary policy and regulatory frameworks, innovative solutions, guarantees, and risk-reduction mechanisms. These efforts aim to lower capital costs and improve access to finance. Additionally, there will be capacity-building and technical support workshops available during the forum to harness the expertise of diverse stakeholders.
Project submissions for consideration at the APRA Investment Forum can be made here.
*The current members of APRA include Kenya, Ethiopia, Ghana, Namibia, Rwanda, Sierra Leone, and Zimbabwe, with support from Denmark, Germany, the UAE, and the US, while IRENA serves as the secretariat.
Source
www.irena.org