The Renewable Energy Performance Platform (REPP) has been developed jointly by EIB and UNEP and is one of the planned responses to the UN Sustainable Energy for All (SE4ALL) initiative. REPP aims to overcome barriers for small/medium scale renewable energy (RE) projects relating to perceived risks, technologies and regulations across Sub-Saharan Africa. Furthermore, REPP will address financial market insufficiencies relating to non-availability of long term lending for “bankable” projects.
REPP incorporates three approaches:
1) Facilitate the delivery of existing risk mitigation instruments,
2) Assist in identifying appropriate lending facilities and
3) Provide results-based financial support in order to facilitate the realisation of viable projects.
The EU-AITF grant will be used as a first loss contribution into the share capital of Global Climate Partnership Fund (GCPF) to strengthen direct investment activities in renewable energy and energy efficiency projects in Sub-Saharan Africa.
As at June 2016, negotiations with GCPF, the debt/mezzanine platform in the REPP are still on-going and are expected to be finalized before the end of 2016.