Financing Renewable Energy III

The seminar “Financing Renewable Energy III” which took place on the 23rd of August 2016 at Westwood Hotel Ikoyi, Lagos, is the third event which focused on financing renewable energy and it is the continuation of six successful seminars on utilization of the potentials of Renewable Energy which started in 2014. 

Financed by the Foreign Energy Policy Fund of the German Ministry of Foreign Affairs, the seminar was facilitated by the Consulate General of the Federal Republic of Germany in Lagos and the Energy and Environment Desk of the Delegation of German Industry and Commerce in Lagos. This seminars presentations focused not only on financing opportunities for Renewable Energy projects and the advantages and challenges involved but also advised businesses on “best practices” and pitfalls when preparing and assessing proposals.

Having successfully carried out a research on an overview on financing options for Renewable Energy projects in West Africa which is financed by the Federal German Ministry for Economics and Technology (BMWi), Mrs. Freyer and Mr. Neulinger, both ExperTS working for the Delegations of German Industry in Nigeria and Ghana discovered that despite favor is given mostly to large projects and large loans there is a multitude of financing institutions giving out smaller loans which are yet to be explored. Mr. Shittu from Commerzbank office, in Lagos also made clear that a lot of prospective projects fail just because many businesses do not know how to approach local banks to get financing. 

Finally, the two presentations by Mr. Wolter from Gauff, Germany on an ECA-Covered Buyers Loan and by Mr. Mbaekwe from DEG Investment bank on DEGs co-investment in Beloxxi, a Nigerian biscuit manufacturer as a case study, gave a view on the possible development impact a foreign direct investment could contribute to a country.

 

Presentations 

 

DEG Invests in Beloxxi 

  

Overview of Financing option for RE

Useful Tips for Approaching Local Banks