The Global Innovation Lab for Climate Finance (the Lab) launched six innovative finance solutions to drive private capital to climate action in developing economies. Energy Peace Partners is proud to share the Peace Renewable Energy Credit (P-REC) Aggregation Fund is one of six investor-ready climate finance instruments endorsed by the Lab. Following a 7-month accelerator program between EPP and the Lab, the USD 10.25 million Fund leverages and scales the Peace Renewable Energy Credit (P-REC) - an innovation that we piloted in 2020 - to unlock more than USD 90 million in capital for new renewable energy capacity in fragile, energy poor countries across Africa. The high-impact Fund will enable the extension of the renewable energy revolution to some of the most underserved communities and advance achievement of SDG 7 (energy access), SDG 13 (climate action) and SDG 16 (peace).
The Lab, an initiative of over 70 public and private investors and institutions, accelerates investment solutions to support sustainable development goals in emerging markets. Created in 2014, the Lab has now launched 55 instruments that have collectively mobilized over USD 2.5 billion.
We welcome you to review the P-REC Aggregation Fund overview and more comprehensive P-REC Aggregation Fund instrument analysis for further information.
The Lab will host a virtual Demo Day on October 20 to present this year’s instruments to potential investors, funders, and implementation partners.
To read the full press release from the Lab, please click here.
To learn more about the P-REC Aggregation Fund, click here.