Invitation to a Presentation about a New Innovative Solution to Finance Renewable Energy Projects
Time: 10:00 am prompt
Location: 3rd floor Board Room at the University of Ghana Business School (UGBS) Graduate Campus Main Building (Rm 3W2). Map: https://goo.gl/maps/BWbv4Hy6cHM2
Who should attend: Renewable energy project developers, consultants and students, who are seeking to enter the renewable energy industry.
You are invited to presentation and discussion about a new innovative way to finance renewable energy projects in Ghana. The presentation will be given by Paul Stevers, CEO, Think Renewables Group (TRG) from Toronto, Canada. It is based on the work TRG is doing with Climate Finance Advisory Limited (CFAL) in Nigeria.
This presentation will outline how a project can be funded with a combination of a bank loan, which are partly guaranteed by the multi-billion dollar Africa Guarantee Fund, equity investor and a relatively small investment by the project developer. To incentivize and reduce the risk to the equity investor, part of the reimbursement to this investor will be from carbon emission offset payments.
If a project is large enough, after it is operational and generating in the revenue, a Green Bond would be issued to enable the project developer to “cash out” and use the proceeds of this transaction to start the next project. To keep the project developer incentivized to purchase good quality products and keep it working well, this developer will be contracted to perform the operation and maintenance of the project after the refinance is completed via a Green Bond.
Recently, CFAL signed a partnership agreement with Vetiva Capital Management Limited and AGF West Africa S.A., which is a subsidiary of Africa Guarantee Fund, to facilitate financing of green energy projects in Nigeria. To view a press release outlining this partnership and their plans in more detail, see this LINK.
