The International Renewable Energy Agency (IRENA), in partnership with Power Africa and the African Trade Insurance Agency, hosted a Renewable Energy Matchmaking event in Sub-Saharan Africa, IRENA’s Sustainable Energy Marketplace: Facilitating renewable energy deal-making in Sub-Saharan Africa.
Building on its extensive project pipeline in Sub-Saharan Africa, with over 90 renewable energy projects available on the Sustainable Energy Marketplace, IRENA showcased 10 promising renewable energy projects (including wind, solar, bioenergy, hydropower projects) located in Cameroon, Cote D'Ivoire, Kenya, Mali, Senegal, Sierra Leone and Togo with a total capacity ranging from 6 MW to 70 MW.
The event took place at the Africa Investment Forum (AIF) hosted by the African Development Bank (AfDB) in Johannesburg, South Africa.
Date: Monday, 11 November 2019
Time: 16:00-18:30 South Africa Standard Time / GMT +2
Where: African Investment Forum (Johannesburg, South Africa)
Since 2015, IRENA and Power Africa collaborate to advance renewable energy projects in Sub-Saharan Africa. IRENA’s Director-General, Francesco La Camera, and the Deputy Director of the United States Trade and Development Agency, Tom Hardy, will deliver a keynote speech addressing the role of renewable energy in energy transition in Sub-Saharan Africa.
As part of its efforts to scale-up investment in renewable energy in developing countries, IRENA provides support to project developers in developing and refining their business plan and investor pitch. Through its regional project finance matchmaking forums, IRENA accelerates deal transactions by:
- providing more visibility to small-to-medium-size projects;
- reducing transaction costs for both the project developers and financiers/investors;
- improving the quality of project information; and
- facilitating productive engagements between project developers and commercial/financial partners, including strategic investors seeking to invest in early-stage projects.
With the participation of the African Trade Insurance Agency, the event also served to highlight the role of risk mitigation to scale up investment in renewables in Sub-Saharan Africa.