Today, EEP Africa is hosting their by-invitation-only Investor Forum as a side event during African Utility Week (AUW) and POWERGEN Africa. We at Empower are pleased that our CEO, Terje Osmundsen, was invited to participate at the forum.
During AUW last year, EEP Africa launched their 14th Call for Proposals which received over 530 applications in total. Empower New Energy is proud to announce that we were one of the companies who got elected to receive a grant from EEP Africa in connection with a 1.9 MW run-of-river hydro plant in the eastern part of Rwanda. It is an important project in the region, which will help small remote communities to be connected for the first time with electricity as well as with a tarmac road, in addition to saving more than 7,000 tons CO2 per year.
EEP Africa provides early stage support to project developers, providing financing and taking risks that are too large for developers to take on their own. Many projects that have received support from EEP Africa go on to grow and attract other investments. In an interview with ESI Africa, Wim Jonker Klunne, Lead coordinator for EEP Africa, says that apart from financing needs, the main challenge for renewable energy in Africa is the enabling environment for private sector investment. He further mentions that a stable and predictable regulatory framework is key to attract the private sector to these projects and potentially unlock Africa’s potential for renewable energy.
Empower is pleased to be working with EEP Africa and African Utility Week/POWERGEN Africa and hope to see many existing and new partners at both events.