Global Renewable Independent Power Supplier (GRIPS)

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