PPSE Annual Report 2021-2022
New projects that received PFAN support
People trained from private and public sector
New partnerships established
New PFAN Advisors onboarded and trained
Total seed investment leveraged by SMEs in Accelerator
In spite of a challenging year marked by catastrophic floods coupled with economic and political uncertainty in Pakistan, the Pakistan Private Sector Energy Project (PPSE) originated and is supporting over 30 clean energy projects (solar, e-mobility, wind, etc.). As well as providing acceleration services to 20 SMEs, crystalizing the first financial closures for 2 of our companies adding up to USD 1.3 M in investment towards clean energy businesses.
We are grateful to our donor, USAID, that has been an instrumental ally in helping support the clean energy and circularity ecosystem in the country. We take pride in our achievements so far, and with our project garnering momentum we look forward to more milestones ahead.
Besides project development and investment facilitation activities, that is PPSE’s main focus with a 4-year target of leveraging investments of USD 80 M for clean energy and circularity projects in Pakistan, we embarked on a journey to create bridges and strengthen the capacity of investors and banks for them to better understand clean energy business models, technologies, and by doing so, de-risk investments in the sector through setting up the Clean Energy Financing Pakistan Task Force (CEFP-TF). Over 40 representatives from financial institutions are now part of an active platform for data and knowledge sharing.
Crucial to our success is ensuring women have a role in the future in the clean energy space, PPSE collaborates with women´s networks, we train our advisors on gender lens investment, and at the same time, we have embedded gender metrics in our project appraisal. Beyond these efforts, PPSE currently supports 5 women-led businesses, 16% of our pipeline.
In the coming year, we plan to continue engaging projects in our pipeline, reach several financial closures across a diverse portfolio, roll out a Project Development Facility to speed up the runway to financial closure, actively assist government stakeholders to build their capacity and enhance the ecosystem for clean energy businesses. In the phase of the latest devastating floods and earlier extreme heatwaves that affected Pakistan, it is imperative to put climate change at the forefront of the political agenda and scale up ambitions toward meeting the promises set in Pakistan’s latest Nationally Determined Contributions (NDCs) – UNFCCC which are at the heart of the Paris Agreement.