NEPAD Agency will be launching a new initiative to drive sustainable energy development projects in Africa later this week in Nairobi, Kenya, NEPAD said in a statement.
NEPAD Agency’s Africa Sustainable Energy Incubator Platform will be introduced at the Africa Private Sector Forum held at the Planari Hotel in Nairobi from the 3-5 December.
This initiative is joined by the ACP Business Facility (BizClim), part of the ACP Group of states and supported financially by the European Union to drive sustainable development projects in Africa by creating a platform for key energy players to discuss optimal solutions and strategies going forward.
The platform has become ‘The meeting point for energy project developers and investors’, said in the statement. Its aim was to create a hub for key industry movers and shakers to meet at one single point to address the advancements and rapid growth of the sector.
Not only will energy experts be providing attendees with a wealth of knowledge there will also be business support models to assist developers with all business aspects including proposals and financial structures which are tailored to get the optimal results for their energy project.
Dr Ibrahim Mayaki, NEPAD Agency Chief Executive Officer said that Africa needs to attract investors who have the ability and willingness to drive and extend sustainable energy in an affordable manner.
‘We would like to make the NEPAD Agency incubator test platform a future catalyst to strengthen our own coordination with African Governments and Agencies and promote this platform as an exchange to build common equity for developers and investors. We can and will bridge the investment gaps that have for too long restricted growth’, he said.
A collection of international investors, core agencies and industry experts will be discussing ‘alternative solutions to securitising risk capital to accelerate private sector energy projects’ on Thursday at the plenary session, NEPAD said in a statement.
The plenary session will be held by Professor Mosad Elmissiry, Head of the NEPAD Energy Division and the test incubator GEN-HUB platform author Gavin Maxwell, and Energy Expert. They will be discussing alternative and innovative funding solutions, explaining the outcomes of the NEPAD Agency’s Pan Africa Sustainable Energy Incubation and Investment Project.
The available opportunities to facilitate ‘impact grade finance’ for African energy developers will also be looked at.
With financial challenges facing investors in Africa, this platform may restore confidence in them to accept higher risk should a viable solution be put in place.
‘New forms of “Impact finance” could provide a realistic solution to Developer challenges and deliver sustainable returns to Investors’, said in a statement.