What is REPP?
The “Renewable Energy Performance Platform” (REPP) seeks to mobilise private sector development activity and investment in small and medium scale renewable energy projects (up to 25MW) in sub-Saharan Africa.
REPP works with service and finance providers (REPP Partners) to bridge the gap between the Levelised Cost of Electricity (LCOE) and the prevailing tariff in each country, by tailoring a range of services to each project. These services include providing technical assistance to projects, facilitating access to existing risk mitigation instruments and long term lending from REPP partners as well as providing results-based finance, for example, in the form of top-ups to existing tariffs, where appropriate.
Who is funding REPP and how much funding is available?
Initial donor funding of almost €70 million has been secured for the REPP.
How do I apply for support to the REPP?
The best way to apply for support will be to contact a REPP Manager representative in a country or region close to you.
You can email firstname.lastname@example.org
Who is the REPP Manager?
A consortium comprising Camco Clean Energy and GreenStream has been appointed to manage the REPP.
Camco Clean Energy
Camco Clean Energy is a clean energy company which combines technical and commercial expertise to finance, develop, and operate renewable energy projects.
With 25 years of experience and an outstanding track record throughout Africa, Asia, North America, and Europe, Camco works with local developers, governments, development banks, and private investors to implement clean energy projects, policies and technologies and to reduce emissions.
GreenStream has over 10 years’ experience in the international climate markets, offering a range of climate services, ranging from managing proprietary carbon funds through to the provision of intermediary and advisory services.
What should I expect in terms of the process for obtaining support from REPP?
REPP support is provided in a multi-step phased process:
- Once the REPP Manager has confirmed that a project is eligible for support, the project requirements in terms of technical assistance will be assessed.
- Once approved, technical assistance support will be provided to the project to assist in ensuring that the project is bankable.
- The REPP Manager will then facilitate access to risk mitigation instruments and long-term debt financing (in that order) from REPP Partners.
- If, after provision of technical assistance, risk mitigation instruments and long-term lending, additional results-based financing support is warranted, then a Proposal will be prepared and presented by the REPP Manager to the REPP Assessment Committee on behalf of the project.
- If this proposal is successful, then results-based financing support will be available to the project.
What is the goal of REPP?
REPP was developed by the European Investment Bank (EIB) and the United Nations Environment Programme (UNEP) to deliver the UN SE4All objectives in Sub-Saharan Africa, based on the core principles of supporting sound projects, overcoming barriers and market failures relating to perceived and actual risks in new markets for renewable energy, ensuring high value for money for donors, using donor funds to leverage private sector investment, driving down project development costs by standardising and aligning due diligence procedures among REPP partners; and using existing instruments and lending platforms wherever possible.
Specific targets which REPP hopes to achieve over its 5 year mandate are:
150 MW of new renewable energy capacity installed;
Up to 6 million tons of CO2-equivalent greenhouse gas emissions abated or avoided; and
Electricity generation for 10.2 million households.
What are the eligibility criteria?
- Countries which are initially targeted for REPP support include: Benin, Burkina Faso, Burundi, Cote D’Ivoire, Ethiopia, Ghana, Kenya, Liberia, Madagascar, Malawi, Mali, Mozambique, Nigeria, Rwanda, Senegal, Sierra Leone, Tanzania, Togo and Zimbabwe. However, and with enough justification, projects in all countries in sub-Saharan Africa could be eligible for support under REPP, with the exception of Namibia, Botswana, South Africa, Zambia and Uganda.
- Renewable energy technologies which are eligible for support under REPP include: onshore wind, solar photovoltaic (PV), concentrating solar power (CSP), geothermal, waste to energy (landfill gas and thermal waste to energy), tidal power, run-of-river hydropower, biomass and biogas.
- REPP supports small to medium sized projects in the range of 1 to 25MW in energy production capacity. For projects which are below 1MW, REPP may aggregate multiple projects to reach the minimum threshold.
- REPP supports early-stage projects and continue to support those projects to financial close. Project developers seeking support from REPP must demonstrate investment in their project. All projects should be able to demonstrate significant sustainable development benefits for communities and the host country, as well as contributing to poverty alleviation. The project must also demonstrate additionality; i.e. that the project would not reach financial close without the support of the REPP.