2nd meeting of the signatories January 28th 2020 · Ms. Paloma Perez de Vega, European Investment...
Transcript of 2nd meeting of the signatories January 28th 2020 · Ms. Paloma Perez de Vega, European Investment...
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renewAfrica 2nd meeting of the signatories January 28th 2020 Advancing EU Commitment to deliver RES Investments in Africa
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Advancing European Commitment to Africa’s Clean Energy Access at scale
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Mr. Antonio Cammisecra, President SC renewAfrica; President RES4Africa Foundation
13:30
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Africa's growth is asking for energy
Progress in access to electricity is expected throughout the world, but Sub-Saharan Africa lags behind. In 2030, over 600 million people in Africa will be living without access to electricity (36% of the population)
Driven in large part by demographic and urbanization trends, energy demand is expected to increase faster than anywhere else globally (at 2.1% per annum)
Africa is the second most inhabited region globally, after Asia. It is the world’s fastest growing continent in demographic terms
By 2030, more than 50% of the Africa's population will be living in cities
African economic growth is projected to accelerate to 4% and 4.1% in 2019 and 2020 respectively, but it remains insufficient to address structural challenges
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233 394 384
704 161
260
26
58
412
1.264
12
25
0
500
1.000
1.500
2.000
2.500
3.000
2009 2019E
North America Europe Latin America
Africa Asia Pacific Middle East
Global RES capacity more than doubled over the past ten years, but Africa is lagging behind
Source: IEA – WEO 2018, New Policies Scenario; United Nations – Population Division; EGP Analysis
Global Installed RES generation capacity (GW) has more doubled in the last decade…
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…with Africa accounting only for 2% of the total installed capacity
1.228
2.705 Δ 2009-19: + 1.477 GW
58%
22%
11%
7%
2%
Middle East 1%
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Bridging Africa’s energy gap will require additional RES capacity and private sector investment
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RES GW installed in Africa Investments in RES Generation Capacity
Source: Enerdata, BNEF
Note: Pump capacity not included
42
118
[VALUE]
2017 AdditionalRES Capacity
2030
Hydro
Wind Onshore
Solar PV
Geo
Bioenergy
118 GW of additional RES
capacity needed in Africa
until 2030
€140 billion Most of the investment needed
must come from the private sector
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Adequate financing support
Sustainable bankable project development
… but it is still missing:
An enabling regulatory framework
Africa is ready for energy
Population growth
Urban concentration
Demand growth
Land availability
RES potential
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Why should Europe invest in RE in Africa?
LEADERSHIP IN RENEWABLE SECTOR
GEOGRAPHIC PROXIMITY
FINANCING AVAILABILITY
ENVIRONMENTAL AND SUSTAINABILITY CHALLENGES
ELECTRICITY FRUGALITY
RES POTENTIAL AND ECONOMIC GROWTH
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There is a significant number of EU RE Support Programs in Africa…
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A gap analysis was carried out to understand and map the 75 existing initiatives and support mechanisms.
17 of them are significant, but only:
Over 75 existing EU Support Programs
Only 17 significant
Are available in all African countries
35%
Are technology neutral
29%
Comprehend at least one risk
mitigation mechanism
40%
Offer an aggregated package of
guarantees & insurances
20%
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None of the 17 analyzed instruments cover all tipical risks.
The legal, regulatory and political framework is the most uncovered risk.
EIP and Scaling Solar programs, over-performed regarding the risk mitigation mechanisms offered.
…but none of them cover simultaneously all major investments risks…
Legal / RegulatoryFramework
Risks AffectingRevenues
Risks AffectingFinancial Structuring
Risks AffectingConstruction andOperational Costs
Envionmental andSocial Issues
17 Instruments Scaling Solar EIP
80% 60%
40% 20%
100%
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Level (%) of coverage by main area
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Legal, technical
and economic analysis
Tender information
& documents
Bidder consultation
RFP
Proposal review signing
Loan, insurances,
PPA, guarantees
Construction, commissioning,
O&M
Preparation Bid Documents Tender Process Award Final Agreements Construction and O&M
Milestone
Level of support
perceived
100% 29% 18%
65% 41%
the most uncovered areas
Phase
…nor do they provide equal support throughout all investment phases
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An innovative EU Support Programme for RE investments in Africa is needed to…
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Facilitate high-level dialogue with governments
and authorities
Provide financial support and risk mitigation tools
Promote capacity building
and knowledge transfer
Set the stage for the right investment
environment
Design structured tender processes and standardized
documentation
Cover more African countries and technologies
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renewAfrica aims to be an impactful RE EU Support Programme that:
Is a gamechanger in scaling up access to RE at a transformative scale across the African continent
Addresses all the identified market gaps and build on best practices
Creates a comprehensive one-stop-shop EU Programme for RE support
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Finance Think Tanks and Consulting firms Independent Power Producers
Industry Associations
Manufacturers
renewAfrica is backed by 25 international stakeholders coming from 9 countries and 5 EU-level bodies
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The EC and renewAfrica share a common vision
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SDGs: Closing the energy access gap & Climate action
New European Green Deal
A stronger Europe in the World …and also boost European Industry and Innovation
Africa sustainable development, job creation and industrialization
renewAfrica’s
overarching goals are in
line with the new
European Commission
agenda
It is time for action!
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Ms. Ditte Juul-Jørgensen Director General ENER
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Mr. Mauro Raffaele Petriccione Director General CLIMA
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Mr. Koen Doens Director General DEVCO
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Mr. Birgitte Markussen Deputy Managing Director for Africa EEAS
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renewAfrica 2nd meeting of Signatories
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Mr. Roberto Vigotti, Secretary General RES4Africa Foundation
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Agenda of the meeting
14.15 renewAfrica mission as a part of the European Green Deal
15:45 Wrap-up and the common way forward
Progress update: renewAfrica is ready for implementation Mr. Roberto Vigotti, RES4Africa Foundation
The common vision and desired outcomes Ms. Paloma Perez de Vega, European Investment Bank
Proposed timeline and reaffirming our signatories’ commitment Mr. Jon Lezamiz, Siemens Gamesa
Q&A Session Ms. Josefina Stubbs, RES4Africa Foundation
Mr. Alejandro Ulzurrun, DG ENER, Mr. Stefano Signore, DG DEVCO , Mr. Roberto Vigotti, RES4Africa Foundation
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renewAfrica: our progress so far
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Roberto Vigotti, Secretary General RES4Africa Foundation
14:15
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Finance Think Tanks and Consulting firms Independent Power Producers
Industry Associations
Manufacturers
renewAfrica signatories represent all segments of the European energy value chain…
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…and have worked together in the last months to ensure renewAfrica a constant pace of progress
Steering Committee’s composition
Independent Power Producers
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A Steering Committee elected in July 2019
has provided strategic guidance…
… while the Secretariat led the effort of
dedicated Working Groups to build the
Programme
Working groups (WGs)
Secretariat coordinating through dedicated representatives
Advocacy and Positioning
Capacity Building
Governance Drafting
RE Promotion and Policy Dialogue
Financial Support
Technical Assistance
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A blueprint of the Programme has been set up and is ready for implementation
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renewAfrica 2° Signatories meeting, Brussels
Preliminary plan of activities to be implemented in Brussels to engage the new Commission
List of essential skills for job creation and de-risking of all project phases
Application to existing EU instruments for funds to start-up renewAfrica
WG 1 –Governance drafting
WG 2 – Advocacy and positioning
WG 3 – Capacity building
WG4 – RE Promotion and Policy Dialogue
WG 5 – Technical assistance
WG 6 – Financial support
First draft of criteria for target country prioritization
List of financial instruments available in the market, and gaps that need to be bridged
Implementation-ready template of technical assistance activities
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renewAfrica has lived up to ambitious expectations in only seven months…
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Jun ‘19 Jul ‘19 Nov ‘19 … Sept ‘19 Oct ‘19 Dec ‘19 Jan ‘19
First SC Meeting (09/09)
Second SC
Meeting (05/11)
Third SC
Meeting
(09/12)
First Signatories
meeting (04/06)
Second Signatories
Meeting (today)
Presentation in Addis Ababa
(19/06)
Presentation to EIB (17/07)
Discussion with DG ENER and DG DEVCO
(16/09)
Working Groups’ activities
Workshop for WG Coordinators &
Content Managers (26/11)
Stimulate the creation of an comprehensive and impactful EU Support Program
Continuous stakeholder engagement by signatories and Secretariat
Development of renewAfrica Programme blueprint
renewAfrica ready for implementation and to be an important part of the new European Green Deal
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…confirming that there exists an appetite among EU majors for an integrated European programme to address existing fragmentation
…and is now ready to engage in a deeper conversation with the new European Commission
Full commitment of our Signatories
…evident from the effort in the Working Groups:
44 professionals
>20 meetings since October ‘19
A strong network covering the renewables value chain
An advanced structure of the Programme proposal
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The shared vision and desired outcomes
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Ms. Paloma Perez De Vega, EIB
14:35
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renewAfrica will fulfill its mission by offering comprehensive support to investors and Governments
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renewAfrica 2° Signatories meeting, Brussels
High level policy dialogue, to create a conducive
environment for investments
Capacity building, to facilitate
knowledge transfer and build local skills
Technical assistance, to
support Governments in
preparing tenders
Financial support, to provide de-risking instruments to IPPs
Creation of a pipeline of sustainable RE bankable projects
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renewAfrica will build on existing EU instruments, and DFIs will help us ensure a harmonized approach
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renewAfrica 2° Signatories meeting, Brussels
Risk of curtailment Capital transfer and convertibility Revenue stability
Construction flaws
Inflation risk Tax regime
Regulatory and Policy Risks Property/concession rights
Political risk Grid access rules
Exchange rate risks Counterparty/Sovereign risk
Permitting /licensing Availability of Local Skills
Logistics, Security and Safety Risks Financing availability
Etc.
European Investment Plan
African Energy Guarantee Facility
EU-Africa Infrastructure Trust Fund
Interest rate risks Etc.
renewAfrica will be a European Programme that covers:
All risks
All renewable technologies + grid
All project sizes
There is agreement that a European one-stop-shop derisking and enabling
programme is needed
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To generate tangible results over the short-term, renewAfrica will target a few countries in its pilot phase
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renewAfrica 2° Signatories meeting, Brussels
The Pilot phase will generate insights and valuable lessons for the full deployment of renewAfrica.
The country selection will
build upon a list of criteria
drawn by renewAfrica in
partnership with African
countries
Focus on countries where renewAfrica can maximize its impact
Geographical focus on specific areas, e.g. at least one country in the Sahel
Coherence with other existing EU initiatives, as a further effort to harmonize the European commitment for Africa
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We are currently exploring routes to fund both the start-up and the full deployment of renewAfrica
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renewAfrica 2° Signatories meeting, Brussels
Preparation Implementation
Short term Mid/Long term
Funding & operations
Within the
2014-2020 MFF*
Within the
2021-2027 MFF
DFIs to prepare and submit an application for EU funds for TA
activities in support of renewAfrica
1
Pilot projects in the selected
target countries
3
In parallel, renewAfrica is active on generating insights for the preparation
of a Programme proposal to the European Commission
renewAfrica running at full speed
2 4
EU funds are allocated for renewAfrica TA
MFF = EU Multi Annual Financial Framework
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A common way forward
32
Mr. Jon Lezamiz, Siemens Gamesa
15:00
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The time for action is now
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renewAfrica 2° Signatories meeting, Brussels
Renewables need to be the answer
Europe’s expertise and experience makes it the right partner for Africa
Europe is a global leader in the renewables sector, thanks to decades of stringent targets and R&D investments. Falling technology costs and the wealth of accumulated knowledge and expertise among European stakeholders can be key assets to help Africa leapfrog polluting technologies
Africa is at a crossroads, and renewables need to become an entrenched answer to its rising energy needs. Renewables are the most competitive, cleanest, and fastest way to bridge Africa’s energy access gap
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renewAfrica’s goal reflects the priorities of the new European Commission
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renewAfrica 2° Signatories meeting, Brussels
European Green Deal Climate action, tapping into private investment, green alliances
The European Commission agenda includes headline ambitions…
… for which renewAfrica is relevant and can represent a fundamental part of the solution
A stronger Europe in the world Comprehensive strategy on Africa, promoting European industries
Support for clean energy in Africa Private investments (by being industry-backed)
Promoting EU renewables industry abroad Greater weight and stronger presence of Europe in Africa thanks to a single reference Programme for all it support instruments
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We have a clear understanding of the work ahead of us
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renewAfrica 2° Signatories meeting, Brussels
Unleashing renewAfrica potential and its overarching goals
The renewAfrica de-risking package shall meet Africa’s and investor requirements
renewAfrica shall capitalize on best practices and EIP instruments that exist already (additionality)
renewAfrica shall move towards a long-term partnership with Africa based on business ties and investment
Widening the European endorsement and membership of renewAfrica is a conditio sine qua non for its success
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renewAfrica provides the missing link between Africa’s RE needs and Europe’s ability to deliver RE investments
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renewAfrica 2° Signatories meeting, Brussels
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The Commission’s endorsement is a fundamental step toward a Programme running at full speed
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Application for EU funds within the 2021-2027 MFF
(2021)
Dialogue with the European Commission
(Mar-Jun ‘20)
Activation of EU funds for TA on test countries
(2H 2020)
EU Support Program working at full speed
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Q&A time
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15:15 Moderator: Josefina Stubbs, RES4Africa Foundation
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Wrap-up and final remarks
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15:45 Mr. Alejandro Ulzurrun, DG ENER Mr. Roberto Vigotti, RES4Africa Foundation Mr. Stefano Signore, DG DEVCO
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Thank you!
https://www.renew-africa.org/