The African Development Bank (AfDB) has approved a $5.65 million grant to fund Peace Renewable Energy Certificate (P-REC) mini-grid projects across 14 African countries, aiming to provide electricity to 856,000 people.

This initiative will deploy renewable energy certificates as a direct funding instrument for a portfolio of mini-grids in Africa’s most fragile and energy-poor countries.

Co-financed with an equal contribution of $5.65 million from the Nordic Development Fund (NDF), the $11.3 million facility will be managed jointly by Camco Clean Energy and Energy Peace Partners (EPP).

The certificates are sourced exclusively from small-scale mini-grid projects in conflict-affected and energy-poor communities and are purchased voluntarily by multinational corporations seeking to maximize the social and environmental impact of their sustainability investments.

The facility will enter long-term purchase agreements with eligible mini-grid developers across 14 frontier countries: Burundi, Central African Republic, Chad, Democratic Republic of Congo, Ethiopia, Liberia, Mali, Niger, Nigeria, Sierra Leone, Somalia, South Sudan, Sudan, and Uganda.

Developers will receive upfront cash payments in exchange for the rights to the certificates produced, which the facility will then sell to global corporate buyers, channeling hard currency into markets where commercial financing is scarce.

Access to capital remains a critical barrier to rural electrification in Africa, especially in fragile and conflict-affected regions.

Key stakeholders, including the African Development Bank’s SEFA, the Nordic Development Fund, Camco, and Energy Peace Partners, are backing the innovative Peace Renewable Energy Certificate (P-REC) Aggregation Facility.

João Duarte Cunha, Manager, Renewable Energy Funds Division and SEFA, AfDB, stated, “Lack of access to capital for rural electrification continues to be a major hurdle for universal energy access in the African continent, particularly in countries experiencing conflicts and fragility. This is the kind of market-making needed to advance Mission 300 objectives.”

Satu Santala, Managing Director, Nordic Development Fund, commented, “Countries in Sub-Saharan Africa facing fragile and conflict-affected situations urgently need support and access to clean, reliable energy solutions. By supporting this initiative, we also strengthen the role of Nordic climate leadership—working in partnership, through innovation and responsibility, to advance sustainable energy solutions where they are needed most.”

Geoff Sinclair, CEO, Camco, added, “PAF will provide additional low-cost, non-dilutive capital to energy access projects in fragile states. In doing so, it will provide more communities with access to the benefits of clean energy, boosting jobs, opportunities, and living standards. Camco is pleased to be working with EPP, S”