Friday
May 20
2022

Global Energy Alliance for People and Planet and Sustainable Energy for All Announce Expanded Partnership to Tackle Energy Poverty Worldwide

The Global Energy Alliance for People and Planet (the Alliance) announced $50 million to further its multi-year commitment to Sustainable Energy for All (SEforALL) to bridge energy access gaps and support energy transition programs in targeted markets. The collaboration will advance global efforts to end energy poverty, address climate change, and support economic development with renewable energy.

“We are delighted to have this major support from the Global Energy Alliance for People and Planet to Sustainable Energy for All and our work to ensure clean, affordable, and sufficient energy for everyone,” said Damilola Ogunbiyi, CEO and the UN Secretary-General’s Special Representative for Sustainable Energy for ALL. “This funding helps build on our existing work of delivering new clean energy connections at scale and ensuring no one is left behind in the global energy transition.”

The funding will support the scale-up of the Universal Energy Facility (UEF) as a fast and efficient financial mechanism to advance sustainable energy access. In collaboration with partners, SEforALL launched the UEF in 2020 to serve as a multi-donor results-based financing facility to bring speed and scale to energy access programs in Africa. The UEF provides incentive payments to eligible organizations deploying renewable energy solutions and providing verified end-user energy connections. The UEF is already operational in three countries – Madagascar, Sierra Leone, and Benin – supporting the deployment of renewable energy mini-grids. The new funding will support the launch of the UEF in additional countries, the scale-up of support for mini-grid development, and expansion to include solar for productive use.

Source: Global Energy Alliance for People and Planet (link opens in a new window)

Categories
Energy, Finance
Tags
clean energy, energy poverty, financial access, renewable energy, scale, sustainability