$50 million commitment will support the scale-up of the Universal Energy Facility and advancement of countries’ energy access and transition plans
Kigali, Rwanda | 18 May 2022: 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.
The partners’ collaboration will also focus on strengthening global agenda-setting in energy and climate forums, working with public and private sector leadership to prioritize data-driven decision-making and opportunities to scale-up impactful projects on-the-ground.
Speaking at the SEforALL Forum in Kigali on Wednesday, Simon Harford, CEO of the Global Energy Alliance for People and Planet, said: “As the champion of SDG7 and a key partner of the Alliance, SEforALL is integral to our work helping countries achieve universal access to affordable, reliable, and sustainable electricity. Together with our partner nations across Africa, Asia, Latin America and the Caribbean, our integrated approach to country-led programs, results-based financing, and global advocacy will make a substantial impact during this critical decade of action.”
This commitment builds on the strategic partnership of the Alliance, a collective action platform of philanthropies, governments, public and private financing institutions, and technology partners with a bold, collaborative and results-driven approach to just and equitable energy transitions for emerging economies.
About Sustainable Energy for All
Sustainable Energy for All (SEforALL) is an international organization that works in partnership with the United Nations and leaders in government, the private sector, financial institutions, civil society and philanthropies to drive faster action towards the achievement of Sustainable Development Goal 7 (SDG7) – access to affordable, reliable, sustainable and modern energy for all by 2030 – in line with the Paris Agreement on climate. We work to ensure a clean energy transition that leaves no one behind and brings new opportunities for everyone to fulfill their potential.
About the Global Energy Alliance for People and Planet
The Global Energy Alliance for People and Planet (the Alliance) launched at COP26 with USD 10 billion of committed capital to accelerate investment in green energy transitions and renewable energy solutions in developing and emerging economies. This historic partnership among philanthropy, multilateral development banks, development finance institutions, international organizations and governments leverages catalytic grant funding to mobilize public and private capital and scale renewable energy projects aiming to reach one billion people with reliable, clean power, avoid and to avert four billion tons of carbon emissions, and to create, enable, or support more than 150 million jobs, driving inclusive economic growth. The Alliance serves as a platform for collaborative action and provides grant funding, technical assistance, and a range of financing options.
For more information, please visit www.energyalliance.org.
Global Energy Alliance for People and Planet