Private Infrastructure Development Group
Green Africa Power LLP
Project Data Last Updated: 02/11/2017
IATI Identifier: XM-DAC-47086-GAP
Green Africa Power (GAP) has been set up to stimulate private investment in renewable energy in Africa by acting as a long term source of financing and policy support to projects. GAP is a multi-donor Facility formed after a scoping exercise funded by the UK Department for International Development (DFID) and the Norwegian Agency for Development Cooperation (Norad) concluded that there was definite potential for a fund to address key market failures and stimulate private sector investment in renewable energy in Africa. Africa is the world’s most power-starved region, with more than 700 million people lacking access to electricity. There is a shortage of all types of power generation projects in Africa, but particularly renewable power projects. GAP has been designed to counter the pronounced market failures inhibiting the growth of renewables in the region by reducing the upfront cost of capital while maintaining overall commercial returns, providing cover for specific construction phase risks, and facilitating policy dialogue to move towards cost reflective tariffs.;Objectives
GAP has the ambitious target to finance approximately 270MW of new renewable energy generation capacity in four years, saving 3.9m tonnes of carbon emissions and improving the supply of clean energy to millions of people in Africa.;
Sectors groups as a percentage of country budgets according to the Development Assistance Committee's classifications.
A comparison of forecast spend and the total amount of money spent on the project to date.