Lusophone Compact and other financing instruments for renewable energy projects in the PALOP
The objective of this session was to present the financing instruments available for renewable energy projects in Portuguese-speaking African Countries (PALOP), namely the Lusophone Compact and other instruments of the African Development Bank (AfDB) and the Partnership for Financing of Development (SOFID).
The Lusophone Compact Memorandum of Understanding was signed by the AfDB, Portugal and the PALOPs in November 2018 to secure financing, risk mitigation instruments and technical assistance for private sector projects or PPPs in a number of areas including renewable energy . The Portuguese Government cautioned 400 million euros of guarantees in the State Budget for 2019 to allocate projects in the countries covered by the Compact.
It is hoped that the instruments disseminated will serve to leverage new renewable energy projects in the PALOPs, thus contributing to the Sustainable Development Goal (ODS) 7 Ensure reliable, sustainable, modern and affordable access to energy for all .
This session also provided a brief overview of opportunities for renewable energy projects in PALOP and the business environment in these countries.
This session was designed specifically for Portuguese companies or Portuguese private sector capital in the area of renewable energy, ideally with investment plans or portfolio investment projects in this area, since specific content will be presented for this type of projects .