Partners for Euro-African Green Energy, Embark Energy and Everest Energy Announce New Partnership to Secure Clean Energy Investments and Develop Sustainable Energy Projects
3 June 2014, BRUSSELS, Belgium, NEW JERSEY, United States and ZEIST, The Netherlands—Partners for Euro-African Green Energy (PANGEA), Embark Energy, Education, and Entrepreneurship (Embark Energy) and Everest Energy Group (Everest Energy) today announced a partnership under the United Nations Sustainable Energy for All initiative (SE4ALL) to support current efforts to match clean energy projects to finance.
This partnership, developed under the auspices of the SE4ALL High-Impact Initiative for Sustainable Bioenergy in Africa (African HII), is created in order to speed up deployment of clean energy projects and enterprises, and expand opportunities for investment in clean energy in Africa. It will support the on-going role of PANGEA, as Secretariat for the African HII, of Embark Energy, as a leading social enterprise in the region working with entrepreneurs, and Everest Energy as an experienced bioenergy project developer to help close the financing gap in addressing energy poverty through enterprise development—especially for African energy start-ups and SMEs—to achieve greater energy access across the continent.
For the past six years PANGEA has been working on behalf of the African bioenergy industry; Embark for the past two years has been training and coaching renewable energy entrepreneurs—and when business plans are ready they link entrepreneurs to finance; and Everest Energy has been facilitating the growth of sustainable energy projects. In joining forces, the three organisations will work together to build a robust clean energy investment pipeline—from early stage to scale-up.
Embark Energy will incubate early-stage entrepreneurs by linking the training and tools offered through their online programme called MyBusinessPlan with catalytic start-up capital from the Embark Seed Capital Facility, a fund under development; PANGEA will work on the project pipeline, connecting the new businesses to more commercial finance, technical assistance, and a network of product suppliers; whilst Everest Energy will develop and bundle the pipeline projects to attract larger investment, combining industry-project financing and technical expertise.
The partnership aims to create scale in tackling energy poverty by multiplying the number of local SMEs operating across Africa. In the coming months, PANGEA, Embark Energy and Everest Energy will work to develop their pipelines of well-trained entrepreneurs, clean energy SMEs and opportunities for finance to create market-based solutions to solve the pressing issue of energy access.
“PANGEA has been identifying and working with African entrepreneurs since its inception but hasn’t had the technical capacity nor resources to provide the support these burgeoning businesses need. Now, in partnership with Embark and Everest Energy under SE4ALL, we can finally get those entrepreneurs the support they need to create sustainable businesses that supply sustainable, affordable clean energy to their communities,” said Meghan Sapp, Secretary General of PANGEA.
“Embark’s founders have a long track record working with energy entrepreneurs around the world, and we created Embark to build on that experience to offer aspiring entrepreneurs exactly what they need to build, launch and grow an energy business. We are looking forward to the partnership with PANGEA and Everest Energy to bring our recently launched distance learning programme, called MyBusinessPlan, to a larger audience and work together to launch thousands of new businesses rather than the hundreds we have today,” said Ellen Morris, Founding Partner of Embark.
“We are looking forward to working in this consortium with PANGEA as lead generator whilst Embark services the smaller projects, and Everest Energy focuses on the larger projects. This consortium will therefore provide project development capabilities to the whole market. In time, this consortium will create a “go-to” platform for project development in Africa including management data and forecasting intelligence for decision makers and financiers,” said Pjotr Schade, Managing Director of Everest Energy.
Partners for Euro-African Green Energy (PANGEA) is a non-profit membership association that promotes sustainable African bioenergy production, investment and policies. Based in Brussels, PANGEA engages with governments, provides a network for the industry, and shares knowledge on best practices in both the EU and Africa. Its members produce, blend, trade, research and support the development of sustainable bioenergy in Africa and beyond. For further information, please click here.
About Embark Energy
Embark Energy, Education and Entrepreneurship is a social enterprise helping to launch and scale up clean energy enterprises to provide life-changing improvements for people around the world. Embark provides world-class education, one-on-one coaching, and links to finance for aspiring energy entrepreneurs in a seamless fashion—equipping them with the knowledge and confidence to launch, operate and scale-up a sustainable energy enterprise. For further information, please click here.
About Everest Energy
Everest Energy Group is an independent global energy project developer and project advisor, providing operational execution of project development. Everest Energy specialises in structured and “hands-on” bioenergy project development. In supporting the bio-based economy, Everest Energy facilitates the growth of sustainable projects by focusing on energy efficiency and the usage of sustainable input fuels. Since Everest Energy executes both advisory assignments as well as development assignments it possesses in-depth knowledge and experience, both practical and insightful. For further information, please click here.
Kerry O’Donoghue, Programme Director, PANGEA: firstname.lastname@example.org +32 2 400 1079
Evgenia Sokolova, Director of Finance, Embark Energy: email@example.com +1 (917) 667-1587
Pjotr Schade, Managing Director, Everest Energy: firstname.lastname@example.org +31 30 785 2409