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Peace Renewable Energy Certificate (P-REC) Aggregation Facility

Sector: Power Generation (CCGT) • Location: Multiple African countries

Source: Realnews Magazine

Project
Awarded

The African Development Bank Group's Sustainable Energy Fund for Africa (SEFA) approved a $5.65 million reimbursable grant to pilot the Peace Renewable Energy Certificate (P-REC) Aggregation Facility. This initiative will deploy renewable energy certificates as a direct funding instrument for a portfolio of mini-grids across Africa's most fragile and energy-poor countries. The facility will provid

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The project “Peace Renewable Energy Certificate (P-REC) Aggregation Facility” is an infrastructure initiative in the Power Generation (CCGT) sector, located in Multiple African countries. Taiyo aggregates data on it from Realnews Magazine.

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Description

Description

The African Development Bank Group's Sustainable Energy Fund for Africa (SEFA) approved a $5.65 million reimbursable grant to pilot the Peace Renewable Energy Certificate (P-REC) Aggregation Facility. This initiative will deploy renewable energy certificates as a direct funding instrument for a portfolio of mini-grids across Africa's most fragile and energy-poor countries. The facility will provide upfront cash payments to mini-grid developers in exchange for the rights to the certificates produced, which will then be sold to global corporate buyers. The project aims to provide reliable electricity access to approximately 856,000 people across 14 frontier countries, adding 71 megawatts of new renewable energy capacity and about 240,000 new connections.

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