What is SE Challenge Fund?
The SECF is a competitively awarded private sector support initiative to support marginally feasible renewable energy projects in the 100 kW-20 MW range. Projects with lowest requested funding levels will be given priority.
NREP is focused on mechanisms to support these projects:
- First Loss Guarantees—to allow banks to enhance the credit of investors & Independent Power Producers
- Viability Gap Funding—to infuse CAPEX, tariff, and/or interest rate support into projects, in an amount determined by a feasibility gap analysis, at a level to make the projects bankable
There will be two funding tranches under the SECF
- £500k to prove concept & enhance investor confidence
- £8.8M to commercialize successful finance models