GEAPP Launches Fresh Initiatives and Reports Milestones at COP28 to Expedite Renewable Energy Momentum

At the 28th Conference of the Parties (COP28), the Global Energy Alliance for People and Planet (GEAPP) reaffirmed its dedication to driving concrete action towards green energy access and transition across Africa, Asia, Latin America, and the Caribbean.

GEAPP’s commitment to tripling renewable energy capacity by 2030 was a highlight at COP28, where several impactful initiatives were proudly announced:

• Battery Energy Storage Systems (BESS) Consortium: India, Barbados, Belize, Egypt, Ghana, Kenya, Malawi, Mauritania, Mozambique, Nigeria, and Togo are set to join the BESS Consortium, aiming for 5 gigawatts of BESS commitments by 2024 and deployment by 2027. Indonesia also expressed strong interest in participating.

Commenting on India joining the BESS Consortium, Saurabh Kumar, Vice President – India, GEAPP, said, “As we tackle escalating energy needs, a global shift to renewable energy demands collaboration among governments, researchers, and private investors. The BESS Consortium is an example of GEAPP’s firm belief in the power of collaborative actions and partnerships to achieve a people-positive energy transition. The expansion of BESS is crucial to bring down the current high cost of resolving the issue of intermittency and lead to accelerated RE integration. It would also help fast-track innovative regulations that will unlock the value streams on batteries and provide much-needed balancing support to the grid. This would positively impact the demand for RE, which is imperative for a Net Zero future.”

• Demand Aggregation for Renewable Technology (DART): A $15 million investment has been directed to expand the DART program. Notably, DART has already significantly reduced solar equipment costs in Nigeria and supported the commissioning of a 350KW mini-grid project in Benue State, benefitting over 7,000 households and businesses.
• Energy Transition Acceleration Finance Partnership: Collaboration between ADB, GEAPP, and the Monetary Authority of Singapore (MAS) seeks to mobilize up to $2 billion to finance and de-risk energy transition projects across Asia.
• ‘Hardest-to-Reach’ Initiative: GEAPP will support Acumen’s initiative, deploying $250 million to enhance clean energy markets in Africa’s underserved regions.

GEAPP’s second impact report, ‘Powering People and Planet,’ unveiled significant progress, including averting 147 MT of CO2e emissions, connecting 1.2 million individuals to improved energy systems, and generating over 600,000 new jobs. The report emphasizes the urgency of the climate crisis and the need for immediate action.

Acknowledging the importance of global gatherings such as the Africa Climate Summit, Energy Transition Dialogues, and IRENA Investment Forum, GEAPP recognizes these platforms as crucial for transforming the energy landscape. COP28 marked the culmination of a year of substantial progress on GEAPP initiatives in collaboration with allied partners.

Leaders like Jonas Gahr Støre of Norway and Damilola Ogunbiyi, CEO for Sustainable Energy for All, highlighted the significance of collective efforts in expediting change and addressing both emissions reduction and economic growth through energy access.

Oscar A. Garcia, GEAPP’s Chief Impact Officer, emphasized the organization’s transparent and impactful journey since its launch at COP26, showcasing both current achievements and the immense potential for future change.

Joseph Nganga, Interim Managing Director for Africa at GEAPP, emphasized the alliance’s unwavering commitment to accelerating the green energy transition across continents, harnessing the power of partnerships and collective determination to deliver tangible solutions and measurable outcomes by COP29