The Lab – a public-private initiative composed of experts in sustainable investment from governments, development finance institutions, and the private sector – has picked nine new investment vehicles to drive much-needed finance to low-carbon, climate-resilient global development, out of over 100 ideas submitted into a competitive pool. The nine new instruments tackle persistent investment barriers in clean energy, low-carbon transit, and sustainable land use in developing countries, with a specific focus on Brazil and India.
Our grantee Africa GreenCo’s Green Aggregation Tech Enterprise (GATE) instrument was among the nine finalists. GATE aims to increase clean energy access in Sub-Saharan Africa by acting as an aggregator and project development toolbox for mini-grids, providing a clear and consistent pricing signal and certainty of offtake to mini-grid generators through a standardised payment system. By doing so GATE intermediates and decreases the tariff gap between the mini grid and the main grid, enabling the investment needed for mini-grids to be a scalable solution.
We awarded one of our inaugural Design Funding grants to Africa GreenCo, an intermediary off-taker and aggregator of renewable energy projects across sub-Saharan Africa. Read about the grant award here.