Climate Change Mitigation, Renewables Projects in Africa, Financing Challenges and Lessons Learned, the role of Credit and Political De-Risking

12:30 PM to 1:30 PM (Egypt Time)

Time & Date of Event 

12:30 PM to 1:30 PM on Saturday, 12th of November 2022 

Event Overview 

The African continent is blessed with immense renewable energy potential in wind, solar, hydro and geothermal, whilst suffering from structural Energy Poverty that poses a systemic obstacle to socio-economic development and sustainable growth. Climate Change mitigation is a fundamental pillar of Climate Action and is predicated on replacing or substituting power generation through hydrocarbons with the generation of renewable energy.  

With a funding gap of 1.35 Trillion US Dollars, blended finance is the only solution to addressing Africa’s renewable energy needs (concessional funding with commercial financing). ICIEC as  Multilateral Credit and Political Risk Insurer offers various tools covering political risk insurance, partial risk guarantees and export credit guarantees that directly and indirectly mitigate various types of investment risks, including political, policy, regulatory, credit and technology risk. 

Event Outcomes 

  • Highlighting the challenges of renewables project financing in Africa 
  • Making the case for blended financing plus de-risking.  
  •  Examining the way forward towards addressing Africa’s renewable energy gap.