Tuesday, September 8, 2015

Innovative Finance for Access to Energy

This workshop, to be held on September 21st in Milano (Italy), has the aim of sharing the progress made, and identifying future solutions in financing investments for access to modern energy via off-grid solutions and access to clean cooking facilities. The World Access to Modern Energy initiative (1) (WAME) and the Africa-EU Energy Partnership (2) (AEEP) have joined forces to set up this forum.
 
As previously informed on this site, the International Energy Agency has estimated that, in order to provide universal access to modern energy, US$750 billion of cumulative investment is necessary in the period from 2010 to 2030. This is additionally with respect to the amount already foreseen by the most optimistic policy scenario.
While the majority of investments in energy access are geared toward extension of national electricity grids, the majority of those who currently do not have access to energy will more feasibly be reached through off-grid solutions and access to clean cooking facilities. As such, the workshop will focus on leveraging investment opportunities to access to electricity through off grid energy access technologies.
 
Off-grid solutions, which provide electricity to rural areas that are not (or expected to be in the foreseeable future) serviced by the national electrical grid require numerous investments and financing mechanisms of a small-to-medium size. The same applies to clean cooking solutions. As such, this off-grid population presents a significant opportunity for business for local administrations or nonprofit organizations to engage with these communities, as well as a significant market opportunity for for-profit companies. But specific financial resources are needed.
 
For further information, please refer to: http://www.wame2015.org/convegni/social-impact
 
(1) WAME&EXPO2015 is a non-profit association which has been founded by eight of the main European energy companies and EXPO2015, whose theme is Feed the Planet, Energy for Life, to bring to the attention of the public the important social issue of Access to Energy. Its mission is to raise awareness of the problem through information collected on its web site, www.wame2015.org, as well as through workshops and events during the EXPO semester.
 
(2) The Africa-EU Energy Partnership (AEEP) is the main long-term framework for structured dialogue and co-operation between Africa and the EU on energy issues of mutual strategic importance, and with a focus on rural energy access and poverty alleviation. The AEEP engages the private sector, civil society and academia to push on-the-ground action towards sustainable and efficient energy access in Africa, with particular focus on rural access. The AEEP has also initiated the Africa-EU Renewable Energy Cooperation Programme (RECP) which supports market development for meso-scale energy projects in Africa.

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