Closing the feedback loop – Lessons from UNCDF’s Renewable Energy Challenge Fund in Uganda

UNEP Copenhagen Climate Centre, with support from Denmark’s development cooperation is implementing the 3-year Technology, Markets and Investment for Low Carbon and Climate Resilient Development (TEMARIN) project in Kenya and Uganda. The project aims to: 1) analyze successful case studies of market-led interventions and mechanisms in Kenya and identify key learnings; 2) support technology transfer partnerships in a select climate mitigation and adaptation technology in Uganda; and 3) understand how local PV companies can increase their share of the global value chain – and support them in doing so by co-creating outcomes and recommendations.

This report contributes to the third project aim, as its objective is to undertake a retrospective analysis of why so few local companies are able to access funding.

The report was developed by United Nations Capital Development Fund (UNCDF) – Renewable Energy Challenge Fund Uganda (RECF) in collaboration with UNEP-Copenhagen Climate Centre (UNEP-CCC) under the TEMARIN. It was inspired by the recommendation from the recently published UNEP-CCC report (2022) “Unlocking support for local clean energy companies: insights from the solar PV industry in Uganda” to build synergies between investors such as UNCDF and industry associations and to share feedback from calls for funding proposals on reasons for companies not qualifying for investments. While investors have limited resources and feedback is difficult for companies to access, such feedback is valuable for companies, in order for them to apply the lessons and increase their chances for success with future funding proposals. The overall objective of this report is to improve investment opportunities for local solar energy companies, by providing feedback on how to improve the quality of submitted documents for investment and funding. Furthermore, the information and recommendations put forward in this report can be used by enterprise support organisations to develop appropriate interventions to improve the investment readiness of renewable energy companies.

Read more about the TEMARIN project

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