3 June 2020: The Covid-19 pandemic has hit renewable energy companies worldwide and its effects put at risk what the community has ardently worked for in the past years: affordable, reliable, sustainable and modern energy for all. While first repercussions are clear, future impacts and their temporal extent are yet unknown. To prepare and accompany project and business developers in these challenging times, GET.invest – supported by the European Union, Germany, Sweden, the Netherlands, and Austria – has launched several tools: a Covid-19 window for acute and finance-related business advisory, a business continuity checklist and scenario modelling tool for companies to adjust their planning, and a database listing business advisory and financial support available across the sector. As a European programme, the emphasis of all tools is on reducing the impact of the viability gap and supporting a “green recovery” of an even stronger decentral renewable energy sector.
Companies operating in the African and Caribbean region can now apply for the recently launched Covid-19 window within the GET.invest Finance Catalyst to receive business advisory for acute and critical finance-related problems. Dedicated advisors with extensive experience in renewable energy project, business development and finance provide advice on strategy including business continuity; business and financial structuring as well as financial modelling; access to finance support; and transaction advisory. For instance, advisory topics could include assistance with reviewing of business planning in light of a viability gap caused by Covid-19, understanding and where required re-negotiating existing financial obligations as well as introductions to available relief and emergency funds. A business continuity checklist and a scenario modelling tool developed by the advisors are freely available from the GET.invest website. To provide effective support, GET.invest coordinates closely with other partners, including the Covid-19 relief fund.
In collaboration with PFAN, GET.invest has created the Covid-19 Support Database which currently lists about 100 references of business advisory and financial support options offered by associations, impacts funds, international associations and programmes across the sector.
In parallel to its Covid-19 response, GET.invest continues its standard services of market information, a funding database, (virtual) business-to-business events, as well as regular, long-term support to bring clean energy business opportunities to fruition.
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About GET.invest: GET.invest is a European programme which supports investments in decentralised renewable energy. The programme targets private sector business and project developers, financiers and regulators to build sustainable energy markets in developing countries. Services include market information, a funding database, matchmaking events and access-to-finance advisory. The programme is supported by the European Union, Germany, Sweden, the Netherlands, and Austria, and works closely with initiatives and business associations in the energy sector. It is implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ). Find out more at www.get-invest.eu.
