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We welcome the Lomé Initiative

14/03/2019

On the occasion of the One Planet Summit that was held in New York City on September 26, 2018, the President of the Togolese Republic announced an initiative by a pioneering group of African countries to play a pilot role in the development of an optimal regulatory framework to reduce the cost of access to clean energy and catalyze investment in solar energy projects. This international framework will provide all countries willing to register projects under it with an alternative route to the existing national provisions. It aims to channel by 2030 $ 1 trillion of affordable investments toward solar infrastructures, in line with the International Solar Alliance "Affordable finance at scale" program.

On March 14th and responding to the invitation of President Kenyatta of Kenya, President Macron of France, the UN Secretary General and the President of the World Bank Group, the coalitions of the One Planet Summit meet in Nairobi, Kenya. Building on previous editions of the One Planet Summit (Paris, December 2017 and New York, September 2018), political leaders, entrepreneurs, international organizations and other stakeholders assess the progress and step-up action – with a particular focus on “new business models for renewable energy in Africa” and “innovative financing for scaling solar energy”.

Among the One Planet Summit coalitions is the initiative announced in September 2018 by the President of Togo, on behalf of a pioneering group of African countries who agreed to play a pilot role in the development of an innovative international regulatory framework aimed at facilitating investment in clean energy access projects (see link here). This initiative, which is replicable beyond solar, provides with an alternative route to finance sustainable infrastructure and opens the opportunity for all interested stakeholders to provide their input to the drafting of optimal contractual and regulatory provisions. 

An initial group of infrastructure developers, investors and lenders, guarantee providers and expert institutions express their commitment to contribute to this initiative and invite all interested stakeholders to join them:

"We, in our respective roles of energy project developers, finance providers, guarantee providers, and expert institutions, welcome this initiative as we believe that it has been devised on sound pillars. In particular, we agree that an optimal contractual and regulatory framework is an indispensable lever to attract significant investment on solar energy access projects and that an international framework is a solution worth exploring.

The working method proposed by the pilot countries is open and transparent, inviting all interested stakeholders to join forces. We are ready to contribute to this ambitious and valuable initiative and invite all relevant stakeholders to join us in answering the Lomé Initiative Heads of State's call."