The Global Energy Alliance for People and Planet (GEAPP) has unveiled plans to mobilize $7.5 billion to accelerate renewable energy adoption in emerging economies between 2026 and 2030.
To achieve this goal, the alliance is seeking $500 million in philanthropic capital, which it intends to use as a catalyst to attract larger contributions from development banks, public donors, and private investors. GEAPP’s strategy is to de-risk projects and make clean energy ventures more appealing to traditional financiers.
The new initiative follows the alliance’s first five-year phase, during which it says it leveraged $7.8 billion in funding and expanded electricity access to 240 million people across developing regions.
The fundraising effort comes at a time when official development assistance fell by 7.1% in 2024, largely due to reduced U.S. contributions, leaving many vulnerable nations facing a financing shortfall.
GEAPP’s program aligns with Mission 300, a joint campaign by the World Bank and African Development Bank aimed at connecting 300 million Africans to electricity by 2030. As part of this effort, the alliance is co-financing a $10 million package to support 15 renewable energy projects in 11 African countries.
By combining philanthropic support with public and private capital, GEAPP hopes to accelerate the global shift to clean energy while closing energy access gaps in some of the world’s fastest-growing regions.
