2021 Lab Proponent Energy Peace Partners (EPP) has teamed up with 3Degrees and the International Organization for Migration to fund the solar electrification of two hospitals in South Sudan.
Following last year’s announcement of the first-ever Peace Renewable Energy Credit (P-REC) awarded to South Sudan, the solar electrification of the Malakal Teaching Hospital was completed in December 2022. A second P-REC agreement is now in place to electirfy the Bor State Hospital.
The P-REC Aggregation Fund monetizes environmental and socio-economic attributes of renewable energy projects to provide developers with an additional revenue stream, enabling access to term finance.
“We are grateful to IOM, 3Degrees, and Block for their collaboration and commitment in making this groundbreaking transaction a reality. EPP’s work grew out of efforts to expand renewable energy in South Sudan, one of the most fragile and least electrified countries in the world. This project fulfills the original vision of the P-REC, and we are excited about the positive impact this will have for communities in Malakal. More broadly, this highlights the value of the P-REC in mobilizing private sector actors to support high-impact projects in some of the hardest-to-reach communities.”
Dave Mozersky, President of Energy Peace Partners