The Africa-EU Renewable Energy Cooperation Programme (RECP)
The Africa-EU Renewable Energy Cooperation Programme (RECP) is a multi-donor programme that supports the development of markets for renewable energy in Africa. It was launched by more than 35 African and European Ministers and Commissioners under the Africa-EU Energy Partnership (AEEP). By catalysing the development of African renewable energy markets, the RECP contributes to:
Promoting access to energy supporting sustainable economic growth and poverty eradication, within a sustainable development path.
Developing value chains providing employment opportunities for men and women and business opportunities for African and European businesses.
Enhancing energy security and mitigating the impacts of volatile fossil fuel prices.
Climate change mitigation by substituting fossil fuels, and to climate change adaptation by enhanced energy value chain and energy system resilience.
The RECP focusses on meso-scale renewable energy investments, loosely defined as multi-million euro investments, related to all renewable energy resources employed. Meso-scale projects have substantial potential for increasing energy access and simultaneously provide local benefits. The RECP is based on an integrated approach of interlinked activities organised in four Action Areas geared towards enabling and triggering investment. Each Action Area is targeting a crucial factor for success of efficient markets.
Action Area 1 – Policy Advisory
Support the development of a policy and regulatory framework favourable to private investment.
Action Area 2 – Private Sector Cooperation
Facilitate African and European business cooperation for co-investment, exchange of expertise and technology and promote investment in Africa’s renewable energy markets.
Action Area 3 – Access to Finance
Support renewable energy projects to reach bankability, assisting valuable project ideas to develop into concrete investment opportunities.
Action Area 4 – Innovation and Skills Development
Support the development of technical capacities and business skills by creating an African-European network including research, education and private sector institutions.
The RECP supports market development in a variety of ways. This includes the provision of critical information on African energy markets, identification of concrete project opportunities through on-the-ground scouting activities, matchmaking between project developers, technology suppliers, and service providers for joint project and business development in Africa as well as facilitation of access to finance. In addition to these private sector focused activities, RECP also provides policy advisory services and supports local skills development by working with technical and vocational training institutions and academia.See more