By Ndubuisi Micheal Obineme
Africa Renewable Energy Cooperation Program (RECP), Project Manager, Alexander Huppertz has provided an onverview of RECP involvement in project financing in the African region.
Speaking in an exclusive interview with Oil and Gas Republic Journalist during the match making session at Solar Future Nigeria 2017, Alexander Huppertz said that Africa Renewable Energy Cooperation Program (RECP) is a European development program funded by the European Union and commissioned in various zones with the aim of improving energy access, increasing the shares of renewables through market development by providing market information for private sector stakeholders and organizing series of match making platforms for entrepreneurs from Europe and Africa and as well as helping country projects to access funding.
Financing Projects
RECP doesn’t finance project directly but have a network of financiers which it work with and have agreement with the financiers to enhance the quality of projects before laying the projects to the financiers. In one word, RECP connect African Entrepreneurs (project developers) to investors (financiers), Alexander, the project manager of Africa Renewable Energy Cooperation Program, has said.
Quality of Projects
Alexander, who is the project manager of RECP, said that there are lots of project developers that has no access to finance but sometimes if you attend events in Europe for instance, you will hear people say there are lots of renewable energy projects available in Africa which needs finance and after all the research and development on the projects, we will find out that there is no ready made projects on ground. In this kind of situation, RECP works strictly to verify the authenticity of the projects before laying them to investors. “We also work on breaching the gaps between project developers and financiers to bringing both parties together, he added”
Project Development
RECP work with financiers by liasing and making them understand what kind of projects is ready for development, what kind of business models and market segment that is currently in service from companies operating in this market in order to enable them make use of their financial products effectively.
Business Services
According to Alexander, RECP offers a whole range of business activities, matchmaking platforms, information workshop, provide market profiles for entrepreneurs that doesn’t really know much about the energy sector in Nigeria & Africa and interested to enter the market. RECP’s website provides useful information for the energy sector.
“We also provide various trainings, business activities in the private sector and to stakeholders and we also have a component on policy adversory which is focused on private sector cooperation, he added”
