• GEAPP to raise $7.5B for global clean energy rollout
• Seeks $500M in philanthropy to unlock broader investment
• Supports Africa's Mission 300 amid declining public aid

The Global Energy Alliance for People and Planet (GEAPP), an initiative launched at the 2021 COP26 climate conference, plans to raise $7.5 billion to fund its 2026-2030 five-year plan. The goal is to deploy renewable energy solutions across Africa, Asia, and Latin America to boost electrification and green growth amid a decline in international public funding.

Backed by the Ikea Foundation, the Rockefeller Foundation, and the Bezos Earth Fund, the GEAPP operates like a venture capital fund. It uses philanthropic capital to reduce risk and attract financing from multilateral banks, public donors, and private investors. During its first five-year phase, the alliance claims it mobilized $7.8 billion, helping 240 million people gain access to electricity. For the next phase, it aims to secure $500 million in philanthropic capital, which it intends to leverage fifteen-fold to reach its $7.5 billion target.

According to the OECD, official development assistance fell by 7.1% in 2024, driven in part by a disengagement from the United States. This trend has limited the financial options for the world’s most vulnerable countries. In this gap, initiatives like the GEAPP and the Mission 300 coalition—led by the World Bank and the African Development Bank (AfDB) to electrify 300 million Africans by 2030—are emerging as crucial alternatives.

The GEAPP is directly supporting Mission 300 by co-financing an initial $10 million package to back 15 projects in 11 African countries. This catalytic role confirms the alliance's central position in the new energy transition funding ecosystem, bridging philanthropic capital with major multilateral donors.

Olivier de Souza