EEP Africa Investor Forum Spotlights Deal Flow
EEP Africa hosts investor representatives and EEP Africa project developers for a matchmaking session at the start of Africa Utility Week in Cape Town
14 May 2018, Cape Town, South Africa - A group of clean energy sector investors representing venture capital, impact finance, private equity, DFIs and financial institutions came together with EEP Africa project developers one day before the start of Africa Utility Week (AUW) in Cape Town for an afternoon of pitches, matchmaking and deal flow identification.
The Energy and Environment Partnership covering Southern and East Africa (EEP Africa) is a multi-donor fund hosted by NDF and providing early stage grant and catalytic financing to innovative clean energy projects, technologies and business models.
The Investor Forum is an EEP Africa flagship event. Investors looking to identify deal flow opportunities can access a pre-screened pipeline of clean energy projects stemming from the EEP Africa portfolio. EEP Africa project developers with proven clean energy business models and projects poised for construction have a chance to start a conversation with potential investors.
“EEP Africa is more than a series of one-off projects that start and stop with a grant,” touted Charles Wetherill, NDF Manager for the EEP Africa Fund. “Our added value is taking the first step, bearing the early risk and developing a pipeline of investible clean energy businesses, projects and technologies. We know there is impact capital looking to identify opportunities in clean energy. We have the pipeline and are looking to make actionable connections for investors and developers in one stop.”
Lauri Tuomalaa, Head of Portfolio and Finance for EEP Africa, added, “when projects come through EEP, we get to know them in detail. We know how they operate, we see ideas tested, we know the management and at the end of the day we have a lot of confidence putting them in front of the investor community.”
EEP Africa was launched in 2010 under the leadership of Finland with co-financing from Austria and the UK. It has been at the forefront of efforts to fast track clean energy access and sustainable and inclusive green growth across the Southern and East Africa region, channelling more than EUR 57 million to 200+ pioneering projects leveraging clean energy technologies and business models to transform lives and livelihoods for the very poor.
NDF launched a new phase of EEP Africa in 2018 with the facility restructured as a multi-donor trust fund, fully aligned with the 2030 Sustainable Development Goals (SDGs) and the Paris Climate Agreement. The new phase also opens up a new financing window for EEP Africa with EEP Catalyst, a blended finance investment window providing follow-on financing to select EEP projects stemming from the grant phase.
EEP Catalyst provides concessional co-financing in the form of loans and subordinated loans to catalyse and unlock new investment in EEP projects and close gaps in financing plans. Project selection focuses on cases which can demonstrate a clear rationale for additionality, crowding-in new investors, commercial viability, development impact and sustainable business practices.