Innovative Green Financing for Energy Access: Insights from Kenya
With Africa’s continued economic growth, rapid urbanisation and fast population growth, energy demands are expected to increase exponentially. To meet these demands, governments have placed energy investments among their top priorities, with a special focus on renewable energy sources. Public funds alone are however not enough to meet the scale of investment required, hence the need for innovative and additional sources of financing. Green financing offers new opportunities for scaling up public and private investments in renewable energy generation across Africa. This policy brief explores the catalytic role green financing can play in blending public sector funds with private sector capital for renewable energy projects. Using Kenya as an example, it highlights key elements for success in implementing blended finance in renewable energy projects, as well as associated policy reforms and incentive structures.