• About us
    • CTI PFAN Services
    • Network Membership
  • NEWS
    • Technology
    • Status
    • Country
    • Type
    • Technology
    • Country
  • Home
  • Events
  • CTI PFAN Africa Forum for Clean Energy Financing (AFRICEF)

CTI PFAN Africa Forum for Clean Energy Financing (AFRICEF)

Mozambique, South Africa & Uganda Lead the Way in Africa for the Next Generation of Clean Energy Projects

Nine clean energy projects that could reduce greenhouse gas emissions across Africa by ca. 500,000 metric tons a year, the equivalent of taking 85,000 cars off the road annually, were presented to investors in Johannesburg at the CTI PFAN Africa Forum for Clean Energy Financing (AFRICEF).

More than 120 financiers, clean energy experts and representatives of financial institutions from across Africa and overseas participated in the Forum. The meeting was organized by the Climate Technology Initiative’s Private Financing Advisory Network (CTI PFAN), a global multilateral initiative dedicated to “bridging the gap” between clean energy project developers and investors.

By bringing together project developers and investors from around the region, this forum can increase national markets for clean energy,” said Peter Storey (CTI PFAN Global Coordinator) “At the same time, developers from different countries can exchange knowledge and experience to see what works.”

The projects showcased at the Forum, with a total investment value in excess of USD 110 million, included biomass, small hydropower, solar, wind and bio-fuels initiatives developed by entrepreneurs and companies from South Africa, Kenya, Uganda, Mozambique and Ghana.

CTI PFAN screens business plans, selects the most economically viable and environmentally beneficial projects, and provides multiple rounds of coaching and guidance before projects are presented to investors. CTI PFAN is now working on more than 30 projects across Africa.

“This is the first African Clean Energy Investor Forum. Increasing the market for clean energy is a critical component to reducing greenhouse gas emissions in Africa while contributing to sustainable development. We’re proud to be supporting CTI PFAN’s efforts to get innovative projects from Africa’s entrepreneurs off the ground,” said Elmer Holt (Chairman of the CTI Executive Committee).

The business competition was so close that 2 projects were identified as winners. The first of the winning projects was the 8 MW Kakaka mini hydropower project in western Uganda, promoted by a Ugandan-registered company, Greenewus Energy Africa Ltd. With an investment total of US$18 million this greenfield project is looking for US$6 million in equityand US$12 in long-term debt and was being promoted by Chief Executive, Mr. Conrad Nkutu. The other winner was Barefoot Power Company which distributes solar charged LED lights and electrical products to the rural poor in Africa. Barefoot Power has already reached over 100,000 households with clean, efficient lighting and phone charging systems, with the majority of these in Africa. Barefoot operates in Kenya and Uganda and is expanding rapidly across Africa. The company is seeking US$ 1 – 3 million equity and up to $ 4 million in debt to fund dynamic growth. Barefoot director Mr. Stewart Craine complemented CTI PFAN on the organization of the Forum and said that “this process has helped Barefoot Power refine and prepare its business plan for investors in a focused and disciplined way. I am convinced that Barefoot’s participation in the event has increased our attractiveness to investors and will contribute to us successfully accessing new capital to fund our growth”. Two runners-up were also awarded at the Forum. These were the Soil project from Ghana with a Jatropha bio-diesel project and a Biomass Gasifciation to Power project using waste corn cobs from Dalin Yebo in South Africa. The 4 awarded projects represent a total of 120.000 tonnes of CO2 reduction per annum.

The Africa Forum for Clean Energy Financing was sponsored by the Climate Technology Initiative (CTI), the Renewable Energy & Energy Efficiency Partnership (REEEP), and the U.S. Agency for International Development (USAID) and the International Center for Environmental Technology Transfer (ICETT) of Japan. Fundo De Energia (FUNAE) of Mozambique, South Africa National Energy Research Institute (SANERI), the Rural Electrification Agency of Uganda (REA) and the Private Sector Foundation of Uganda – Energy for Rural Transformation Programme (PSFU – ERT) are co-organisers of the Forum.

CTI PFAN is a multilateral, public-private partnership initiated by CTI in cooperation with the UN Framework Convention on Climate Change’s Expert Group on Technology Transfer. CTI PFAN is managed in Africa by PPL International.

Tags: africacleanCTIforumPFAN