22 April 2020

Support renewable energy actors in developing countries

GET.invest opens Covid-19 window –

To understand the impact of Covid-19 on the renewable energy market in developing countries, a survey of the GET.invest Finance Catalyst portfolio was conducted. It appears that there is an urgent need for action, and companies need both financial as well as advisory support to make it through the crisis. 

The current pandemic caused by the disease Covid-19 threatens the viability of many decentral energy actors directly and indirectly through economic impacts. Supply chains are disrupted, as shipments are delayed and staff cannot work. Demand may be affected due to social distancing measures as well as prospective customers running short on cash, leading to decreased payment discipline.

A survey taken amongst businesses and project developers supported by GET.invest’s Finance Catalyst service reflects these general impressions from the sector. Among the main challenges they were currently facing or expecting to face, clients mentioned decrease in revenue, shortage of working capital, HR concerns and supply chain suspension. 57% assumed that they would almost immediately face disruption to their business or market.

Fast-tracked access to Finance Catalyst service

To respond to this challenge and to contribute to a stable renewable energy sector for both its end-users and suppliers, GET.invest has opened its Finance Catalyst service to help renewable energy projects and businesses navigate the crisis. In this way, the programme reacts to results from its client survey showing that services mostly requested at this point are assistance with introduction to programmes or funds designed to assist Covid-19 affected companies (81%), assistance with strategic approaches to financial forecasting (46%), as well as support with the review of business models (35%).

The Covid-19 window will provide project and business developers with fast-tracked access to the Finance Catalyst advisory team to help adapt operations to the effects of the crisis. Support will be available in the areas of investment strategy, business structuring and financial modelling, access to finance and transaction services. The application process is now open via this link.

GET.invest will implement the Covid-19 window in close consultation with stakeholders and partners, for instance the COVID Energy Access Action Network, and in close contact with financiers.

More information

GET.invest and its Finance Catalyst service are supported by the European Union, Germany, Sweden, the Netherlands, and Austria. Partners for Innovation implements the Finance Catalyst service on behalf of GET.Invest. Please contact Peter Vissers or Bregje Drion for more information.
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Peter Vissers +31 (6) 4260 9354
Bregje Drion