30 March 2026

The P-REC Aggregation Facility, a 2021 Lab alum, has secured USD 11.3 million in new funding from Lab members, the African Development Bank (AfDB) and the Nordic Development Fund.

The funding – split evenly between AfDB’s Sustainable Energy Fund for Africa (SEFA) and the Nordic Development Fund – will support a pilot of the facility. The initiative provides upfront financing to mini-grid developers across 14 energy-poor countries in Sub-Saharan Africa in exchange for renewable energy certificates, which are then sold to multinationals seeking high-impact sustainability investments.

The facility is expected to enable first-time access to reliable electricity for approximately 856,000 people, roughly half of whom are women.