The Technical Assistance Facility (TAF) has been established to mitigate the short comings of the renewable energy generation market. Our aim as a renewable energy producer is to counter issues such as a lack of experience from local developers build capacity with local promoters and financial institutions to support renewable energy projects. Serengeti Energy will potentially invest especially in the early stages of the project development phases.
GRANTS
The TAF has to date received grants of around USD 6M from KfW, NDF, SECO and KOICA. The grants are used to provide interest-free development loans and grants to projects that are undertaken by Serengeti Energy. The grants are repaid upon financial close of the project, increasing the sustainability of the TAF.
PROJECT ASSISTANCE
Through the provision of TA funding, Serengeti Energy can lower investment risk especially in the early stages of the project and increase the number of projects in development without necessarily increasing its development capital spending. The TA Facility is managed by a dedicated team within Serengeti Energy and supervised by the Technical Assistance Committee (TAC), which makes strategic and technical decisions with respect to the TA Facility and any other TA projects that the TAC may approve.
UMOJA INCUBATOR
The Serengeti Energy 2022 Umoja Incubator programme is a central part of our business development function. It leverages on the Technical Assistance Facility (TAF) to provide scarce development capital to eligible projects. TAF identifies and supports the development of renewable energy projects across SSA. The projects must be sized between 5MW to 50MW, must be grid connected or in the C&I space with a credit-worthy off-taker.
In collaboration with SSA regional renewable energy promotion agencies and with the support DFI and other stakeholders, Serengeti Energy has launched a call for project proposals in renewable energy solutions across SSA.
A jury of experienced professionals has been put in place to evaluate and select the most promising proposals, based on a pre-defined grading scorecard. Selected projects will receive development capital from TAF and support in developing their project from Serengeti Energy’s experienced team of professionals.
The first Incubator took place in 2022 and a follow-up incubator is planned for 2024.
