EPP is excited to share that the Peace Renewable Energy Credits have been selected by the Global Innovation Lab for Climate Finance for its 2021 acceleration program. The P-REC Aggregation Fund - an idea to aggregate P-RECs and sell to investors to provide equity capital for renewable energy projects in conflict-affected regions - is one of six new climate investment ideas that were selected, narrowed from a list of more than 160 proposals.
Since its inception in 2014, the Lab has become a leader in accelerating investment where it is needed most, having launched 49 finance instruments that have already mobilized USD 2.4 billion for concrete projects in emerging economies. This includes USD 370 million invested by Lab members—who include over 70 institutions in government, development finance, philanthropy, and the private sector—as well as USD 2 billion from additional investors.
Read more about the ideas selected for the 2021 acceleration program.