Despite often challenging market conditions, the strong value proposition of decentralised renewable energy (DRE) companies, federated by the Alliance for Rural Electrification (ARE) means that to date at least 470 million people rely on DRE. Private companies in the sector have raised more than USD 2.1 billion in corporate financing and finance from 2010 to the end of 2019 to close the energy access gap.
This is an astonishing achievement - but it is not enough. Efforts to support DRE need to be accelerated and scaled up significantly to reach the Sustainable Development Goals by 2030, as 870 million currently lack access to electricity, while another 1.5 billion suffer from unreliable electricity services.
To achieve this, annual investments need to increase more than threefold to achieve SDG-7 by 2030. The key to achieve radical scale is the private sector.
The session “Catalysing Private Sector Investments in Decentralised Renewables to Close the Energy Access Gap” will focus on how to further mobilise private sector investments in energy access and it will also shed a light on the need for investment readiness support for DRE companies to absorb investments in the sector.