Innovative energy access projects are increasingly turning to crowdfunding to address their financing need. But what do we know about the effectiveness of this tool to kick-start projects in developing countries?

GVEP international is launching a three year initiative that looks to stimulate, develop and learn from crowdfunding into renewable energy enterprises in sub-Saharan Africa and Asia.

Funded by UK aid, ‘Crowd Power’ will provide direct financial support to crowdfunding campaigns trialling a variety of approaches such as match-funding, guarantees (insurance), and/or grants or “gift” funding. It will also aim to produce in-depth research and analysis of renewable energy crowdfunding campaigns in developing countries.

Following the identification of an Advisory Board, GVEP will partner with 10-20 established crowdfunding platforms, through which the direct financial support will be channelled to 50-100 innovative projects focusing on energy access in the two regions starting in the third quarter of 2015. Key stakeholders in crowdfunding and renewable energy in sub Saharan Africa and Asia (including thought leaders/market experts and crowdfunding platforms) are encouraged to reach out to Davinia Cogan, Crowd Power Programme Manager, at info[at]gvepinternational.org quoting CROWD POWER.

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