New website for the GeoFutures Greeninvest insurance facility has been launched
GeoFutures, an insurance-based risk finance fund with an initial focus on Kenya and Ethiopia has launched its new website.
As reported today by the International Geothermal Association (IGA), the new Geofutures Greeninvest project website has been launched.
The GeoFutures Facility is an insurance-based risk finance fund that will crowd-in international and national private sector investment into the geothermal power sector in East Africa (the “GeoFutures Facility”), with an initial focus on Kenya and Ethiopia.
GeoFutures will facilitate a global step-change towards meeting the UN SDG 7 through the use of highly innovative insurance solutions, deploying private sector insurance underwriting capital, and de-risking sustainable investment opportunities.
GeoFutures will directly support the creation of 600 MW of low cost, clean, reliable geothermal power in Kenya and Ethiopia – supplying more than 31.5 million people with power and avoiding almost 3.1 million tonnes of CO2eq annually.
The GeoFutures Facility developed by Parhelion was awarded Scale Up funding by P4G in 2020 (Partnering for Green Growth and the Global Goals 2030).
GreenInvest is a grant funded initiative arising from Parhelion’s work to further develop innovative insurance products to facilitate the financing of climate sustainable enterprises.
Read about the work of GreenInvest and find out more about the key partners here.