Global Energy Alliance for people and planet reports strong first year

Global Energy Alliance for people and planet reports strong first year

SHARM EL SHEIKH, Egypt /PRNewswire/ -- Since its launch at COP26, the Global Energy Alliance for People and Planet (GEAPP) has accelerated clean energy solutions to support economic development and climate priorities across 12 countries on multiple continents, with plans to expand to seven more countries next year.

Highlights of GEAPP's strong first year include:

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Committed over $350 million to catalyze additional development and commercial finance. GEAPP's investment of $40M in five initiatives alone is accelerating an additional $630M in development capital.

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Partnered with governments in 12 countries, soon to be 19, advancing their national agendas for better energy access, faster decarbonization, jobs growth and economic development.

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Widened the Alliance with the addition of the Asian Infrastructure Investment Bank (AIIB), thus increasing the Alliance to 19 partners and aligned co-investment capacity to $11.5bn.

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Released its inaugural impact report, Powering People and Planet, with initial focus on robust impact methodology and updates on 2022 country programs.

The Alliance was formed in 2021 to catalyze clean energy technologies and new pools of finance to bring reliable, livelihood-enhancing energy to the nearly 3.6 billion people who lack it. Working with developing countries, the Alliance seeks to foster collaboration and speed in harnessing the considerable human and financial resources needed