Launch of the P-REC Aggregation Fund

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Launch of the P-REC Aggregation Fund

The Global Innovation Lab for Climate Finance (the Lab) works with a network of private investors interested in directing funding toward low-economic countries to support energy efficiency, renewable energy, sustainable transport, climate-smart agriculture, and curbing deforestation. After a thorough process of analysis, development, and stress-testing, these solutions are ready to channel investment towards a net-zero economy, the Lab has launched six innovative financial solution instruments to drive private capital to climate action in developing economies.

The P-REC Aggregation Fund (the Fund) is part of the Lab’s 2021 class of innovative and investor-ready climate finance instruments and the product of a 7-month accelerator program between Energy Peace Partners and the Lab. Energy Peace Partners (EPP) focuses on expanding possibilities for peaceful solutions to climate-sensitive development in economically vulnerable countries and populations by issuing Peace Renewable Energy Credits (P-RECs), labeled RECs among other ordinary I-REC(E). P-RECs are designed to stimulate a country’s renewable energy market development in fragile and energy-poor regions. The USD 10.25 million P-REC Aggregation Fund leverages and scales P-RECs to unlock more than USD 90 million in capital for new renewable energy capacity in fragile, energy-poor countries across Africa. The high-impact Fund will enable the extension of the renewable energy revolution to some of the most underserved communities and advance the achievement of SDG 7 (energy access), SDG 13 (climate action), and SDG 16 (peace).

The I-REC Standard Foundation recognizes P-RECs as I-REC(E)s with a ‘peace’ label that indicates high-impact social co-benefits and is pleased to share EPP and the Lab’s announcement of the P-REC Aggregation Fund launch. Separately, EPP is also a recognized I-REC(E) Issuers for a number of countries around the world.

See the following article for a more comprehensive P-REC Aggregation Fund instrument analysis.

Register here for the Lab’s Demo Day 2021 on October 20th, where EPP will be talking about investment opportunities in the P-REC Aggregation Fund alongside the other instruments launched this year by the Lab.


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