About
2016 Fire Awards Winner
In addition to being selected as a 2016 Fire Awards winner, GRIPS was also selected as a shortlisted idea for the 2014-2015 Global Lab cycle.
Champion
Alexander Voigt, CEO, GRIPS Energy AG
Context
A significant portion of the industrial production in Sub-Saharan Africa (and many other emerging and developing countries) is not connected to a stable electricity supply, and many sites are forced to rely on power from expensive, unreliable and emission-intense diesel generators.
GRIPS is an initiative to substitute diesel generators for a hybrid system, using at least 50% renewable energy to provide access to clean, affordable, reliable energy where it is not yet available.
Barriers Addressed
• High upfront investment cost for renewable energy
• High perceived risks of providing funding
• Long amortization periods of renewable energy facilities
Approach
Establishment of a private sector entity that develops, builds, and owns a diversified pool of decentralized renewable energy assets aiming to replace industrial diesel generators by providing businesses reliable, affordable, and grid-independent renewable energy at the scale they need, with a sweet spot greater than1-5MW of renewables capacity through tailored PPAs. Risks associated with non-renewal of PPAs, or underperformance, would be spread across the entire asset pool.
BNEF On-Stage Pitch
Details
Invest
Key Impact Metrics
- Current market potential: 150 GW+
- CO2 savings per 1% transformation to renewables: 3 MN tCO2a.
- Market growth potential: 5% p.a.
- Market opportunity: $5 billion+
Most Recent Update
During the first half of 2017, GRIPS has been working on several project developments and proof-of-concept projects. Among these a pilot project in Zambia for electricity supply of a food-processing SME with Construction targeted to commence in 3-4 months, and an additional 2-3 similar proof-of-concept projects to be announced soon.
Investment Opportunities
- $25M in equity to support development and implementation of top five pipeline projects (TPO/ESCO RE hybrid projects for independent power supply) in emerging and developing economies.
- Minimum expected ROE: IRR 10% unlevered, post tax, over 20 years.
- Target impact:
- Annual savings of 24,000 t CO2 and 24 t particulate matter savings.
- Support of low-carbon local economic growth
- Proof of concept for further investments in renewable energy in developing countries
News & Events
2016 Fire Winners Reach Major Milestones
October 19, 2016October 19, 2016 A blog post by Gloria Coleman, Senior Analyst, Climate Policy Initiative, Fire Awards Secretariat In the six months following the Bloomberg New Energy Finance (BNEF) Future of Energy Summit in New York, there have been several successful outcomes for the 2016 Fire Winners, which kicked-off implementation of work plans to achieve growth goals, with support of […]
Finance For Resilience Honors Four Winning Ideas To Accelerate Investments In Sustainable Cities And Clean Energy
April 5, 2016New York, April 5, 2016 – Finance for Resilience (FiRe), a platform to crowdsource and champion new ideas to accelerate finance for clean energy, low-carbon infrastructure, and sustainable cities, today announced the four 2016 winners of its annual competition at the Bloomberg New Energy Finance (BNEF) Future of Energy Summit. Over 1000 energy-sector and finance leaders at the […]
Finance For Resilience Announces Eight Finalists In Clean Energy, Sustainable Cities, And Climate Resilience
March 3, 2016Winners to be announced at Bloomberg New Energy Finance Future of Energy Summit in New York on April 5 London, March 3, 2016 – Finance for Resilience (FiRe) today announced the selection of eight finalists in its annual competition for financial innovations to drive investments in climate-friendly projects and activities worldwide. At the 21st Conference of the Parties […]
Contact
Alexander Voigt
Grips Energy
alexander.voigt@grips-energy.com
grips-energy.com