Wind and solar energy are now competitive with new fossil fuel generation in an increasing number of locations due to declines in component costs and to improvements in generation efficiency.

Such cost reductions are particularly welcome in emerging economies where electricity costs are high, where there is a shortage of generation and where renewable energy resources are plentiful making it directly competitive.

Many African countries see this opportunity to bring new, clean electricity generating capacity online to meet rapidly rising demand and to improve reliability. Private investment and the deployment of renewable energy technologies are encouraged to achieve this desired growth more quickly.

There is a significant amount of finance now seeking a limited number of quality renewable energy projects in Sub-Saharan Africa. Rencore aims to plug that gap by increasing the pipeline of investment grade and bankable projects, with focused funding and the provision of skills in the development phase of the projects.