United Nations Framework Convention on Climate Change (UNFCCC) https://unfccc.intp
UNFCCC provided GWG with an interest free loan from under the administration of UN Office of Project Services (UNOPS) to develop our Rwanda carbon program under the UN Clean Development Mechanism as defined in article 12 of the Koyoto Protocol. This is a program that allows Annex I member countries to meet part of their green house reduction commitments by buying Certified Emission Reduction (CER) units from emission reducing projects in developing countries. This project is having measurable contributions to sustainable development worldwide.
OPIC is the U.S. Government’s development finance institution. It mobilizes private capital to help solve critical development challenges and in doing so, advances U.S. foreign policy. Because OPIC works with the U.S. private sector, it helps U.S. businesses gain footholds in emerging markets, catalyzing revenues, jobs and growth opportunities both at home and abroad. OPIC provided early stage support to Gigawatt Global through the U.S. Africa Clean Energy Finance initiative, which helped Gigawatt build an 8.5 megawatt solar facility east of Kigali in Rwanda. The plant, which began operations in 2015, is East Africa’s first grid-connected, utility-scale solar energy facility and accounts for six percent of Rwanda’s total energy generation capacity.
The Norwegian Investment Fund for Developing Countries is owned by the Ministry of Foreign Affairs and serves as an instrument in Norwegian development assistance policy. The fund contributes to poverty reduction and economic development through investments in profitable businesses and transfer of knowledge and technology. The current investment portfolio of Norfund totals USD 1.6 billion invested in 117 different projects. Norfund provided mezzanine debt and equity for the Rwanda project.
Power Africa is a U.S. Government initiative that addresses one of the most pressing challenges to sustainable economic growth and development in sub-Saharan Africa – access to electrical power. President Obama announced the initiative in remarks at the University of Cape Town, South Africa, on June 30th, 2013. In part due to critical early stage support from Power Africa, the Rwanda project was negotiated and commissioned in just over a year, showing how quickly solar projects can be brought to life. The deal also helped build government capacity to negotiate power projects and increased government and private sector interest in additional projects.
Norton Rose Fulbright www.nortonrosefulbright.com
Norton Rose Fulbright is a global legal practice, providing the world’s pre-eminent corporations and financial institutions with a full business law service. Norton Rose Fulbright has more than 3800 lawyers based in over 50 cities across Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia. Norton Rose Fulbright were involved with the Rwanda project from the outset and has contributed over two thirds of its fees to developing the solar plant. The team advised on negotiation of the power purchase agreement and concession and implementation agreement with the Rwandan government entities, and worked with the sponsors to raise equity, procure the construction contracts, select the preferred financial institutions and bring the financing to a close.
KPMG International www.kpmg.com, GWG's accounting advisors and financial auditors operates as a network of member firms in over 155 countries worldwide offering audit, tax and advisory services. The firm creates sustainable, long-term economic growth through a range of projects, helping clients to mitigate risk and grasp business opportunities. KPMG seeks to be a good corporate citizen, making a real difference to the communities in which they operate.
FMO Dutch Development Bank https://www.fmo.nl,
The Netherlands Development Finance Company is the Dutch development bank, FMO supports sustainable private sector growth in developing and emerging markets by investing in ambitious entrepreneurs. FMO believes a strong private sector leads to economic and social development, empowering people to employ their skills and improve their quality of life. FMO focuses on three sectors that have high development impact: financial institutions, energy, and agribusiness, food & water. With an investment portfolio of EUR 6.3 billion, FMO is one of the largest European bilateral private sector development banks. FMO provided $1.7 million in debt for the Rwanda project.
Energy and Environment Partnership (EEP) http://eepafrica.org/
EEP is a partnership of the British, Finnish and Austrian governments. EEP programs increase access to renewable energy services and promote energy efficiency in underserved countries by providing grants and seed money for sustainable energy projects. The programs run in Central America, the Andean region, Southern and Eastern Africa, Mekong region and Indonesia. They strive to increase access to sustainable energy for all through improved climate sustainability. The Rwanda project was partially funded through grants from the Energy and Environment Partnership (EEP) Programme.
Emerging Africa Infrastructure Fund http://www.emergingafricafund.com
EAIF is a Public Private Partnership providing long-term USD or EUR debt to finance the construction and development of private infrastructure in 47 countries across sub-Saharan Africa. EAIF provides between USD 10 million to USD 35 million to fund projects across a wide range of industries including telecoms, transport, water and power. While EAIF lends on commercial terms, it aims to support projects that promote economic growth and reduce poverty, benefit broad-based population groups, address issues of equity and participation, and promote social, economic and cultural rights. In 2014 EAIF loaned the Rwanda project US$10.6 million (total cost $23.7 million) in senior debt.
Scatec Solar http://www.scatecsolar.com
Scatec Solar is a leading, globally acting, independent solar energy provider, focusing on making solar power attractive and affordable to customers and investors worldwide. The company masters the complete downstream value chain of the PV business, including project development, finance, engineering, construction and operation and maintenance. Headquartered in Oslo, Norway, the company is present in a number of countries and geographies and has a rapidly expanding track-record of more than 300 MW PV installations in regions with excellent solar irradiation and high return on investments. Scatec Solar (along with Norfund) are majority owners in the Rwanda solar park with project developer Gigawatt Global maintaining a 20 % share in the project. Scatec Solar took the leading role for all EPC activities during the construction phase and the plant was grid-connected in the third quarter 2014.
PNREC, the Palestinian National Renewable Energy Company is a Palestinian-owned and operated private electricity company located in Ramallah. PNREC acquires land within area "A" in order to build large-scale commercial solar energy fields. These projects, in partnership with Gigawatt Global Capital will significantly boost the amount of electricity available to residents of Palestine (Area 'A') and will pave the way for more affordable, renewable and accessible projects in this region.