The RECP offers its “Finance Catalyst” advisory support to project developers on project development, structuring and access to finance (“bankability TA”) to assist them in getting their propositions “read for financing”. In the integrated logic of the RECP, our other services (e.g. market information, match-making and outreach to private sector) mobilise interest and channel beneficiaries to the Finance Catalyst.
The access-to-finance services are delivered through a team of highly experienced professionals. The support can be accessed through a standardised and fair procedure via an “intake” link on the RECP private sector portal website at www.africa-eu-renewables.org. All applicants are assessed according to the same procedure, against a number of eligibility and assessment criteria.
The RECP does not provide direct financial assistance; the team provides advisory support with a time budget of approximately up to 100 hours per project. This advisory support is positioned to be fully complementary to existing grant or financing instruments, by way of assisting applicants to get access to these instruments. The team cooperates very closely and directly with financing instruments in a “two-way-street”, both feeding into these instruments, as well as being open to receive referrals of projects with good potential but lacking readiness for financing.
In doing so, the RECP service reduces transaction costs at both ends, both for project proponents as well as for financiers. Ultimately, this boosts the pipeline of viable projects, leads to accelerated and increased investment, and thereby contributes directly to reaching the political objectives related to renewable energy, energy access and climate change.
In addition to these core services, the RECP may engage in complementary activities, such as supporting know-how development, or dialogue between stakeholders.