NEWS

The current pandemic caused by the disease Covid-19 threatens the viability of many de-central energy actors directly and indirectly through economic impacts. In a survey of businesses and project developers supported by GET.invest’s Finance Catalyst, the main challenges named were decrease in revenue, shortage of working capital, HR concerns and supply chain suspension. 57% assumed that they would almost immediately face disruption to their business or market.

To respond to this challenge and to contribute to a stable renewable energy sector for both its end-users and suppliers, GET.invest, ALER's partners, has created fast-track access to its Finance Catalyst to help renewable energy projects and businesses navigate the crisis.

In this way, the programme reacts to results from its client survey showing that services mostly requested at this point are assistance with introduction to programmes or funds designed to assist Covid-19 affected companies (81%), assistance with strategic approaches to financial forecasting (46%), as well as support with the review of business models (35%).

The Covid-19 window will provide project and business developers with fast-tracked access to the Finance Catalyst advisory team to help adapt operations to the effects of the crisis. Support will be available in the areas of investment strategy, structuring support, access to finance and transaction support. The application process is now open at https://www.get-invest.eu/finance-catalyst/.

Projects and businesses with strong underlying fundamentals can be supported to access debt, equity or grants, aiming to reach financial close. The support is available to the whole range of technologies within the RE sector. The team has dealt with wind, solar, hybrid, hydro, biomass and biogas projects in a variety of business models.

The Finance Catalyst services are fully complementary to other support and financing instruments in so far as they assist market participants in accessing them, and help these instruments towards stronger traction and results.

GET.invest will implement the Covid-19 window in close consultation with stakeholders and partners, for instance the COVID Energy Access Action Network, and in close contact with financiers.