Energy Catalyst at EAIF 2025: Driving investment and collaboration for a just energy transition

The 2025 Energy Access Investment Forum (EAIF) brought together over 500 innovators, investors, and energy thought leaders over four days in Kampala, Uganda this April. Organised by the Alliance for Rural Electrification (ARE), over the last ten years this summit has established itself as the leading platform for fostering decentralised renewable energy (DRE) investment and collaboration.

Sub-Saharan Africa’s electrification gap – currently at 43% of the population with most of those impacted living in rural areas – underscores the urgent need for innovative off-grid and renewable energy solutions. EAIF 2025 provided a fertile ground for accelerating investment and forging partnerships with the potential to accelerate the scaling of such solutions to reach more underserved communities. 

As a strategic partner, Energy Catalyst had a significant presence at the forum with an eight-strong delegation of leaders from supported projects – including Mandulis Energy, Njordfrey, Africa Power, Enee.io, Seawater Solutions, E-Safiri, OrxaGrid, and Vittoria Technology. The delegation engaged in panel discussions, networking events, investor matchmaking, and pitching sessions, showcasing solutions that can advance sustainable electricity access, decarbonisation, economic growth and efforts towards achieving SDG7 (affordable and clean energy for all). The Energy Catalyst exhibition booth served as a dynamic hub for conversations with investors, regulators, ecosystem enablers, and potential partners. During the pitching sessions, delegates gained insights into company growth trajectories, financing needs, and market strategies of their peers, paving the way for synergies and collaboration opportunities.

Featuring speakers from ARE, ENGIE Energy Access, and the German Federal Ministry for Economic Cooperation and Development (BMZ), amongst others, the opening panel, entitled “Five Years Left to Achieve SDG7 – Financing Solutions to Accelerate Electrification” set the tone for the forum by homing in on the critical actions required to hasten progress towards universal energy access. Panellists called for enhanced skills development, the strengthening of sustainable business models, expanded technical assistance and capacity building, greater availability of patient capital, and the simplification of financing and regulatory frameworks.

Energy Catalyst hosted an investor breakfast on the final day of the forum. Eight of the supported companies pitched their business ideas to a curated group of 22 commercial and impact investors, foundations, and development partners, including GreenMax Capital, Acumen, the British High Commission and Shell Foundation. Feedback from investors highlighted how project leaders made a compelling case for their innovations, remarking on the clarity with which business models, growth strategies, and emerging partnerships were presented – a vital prerequisite for securing future investment.

Delegates from Energy Catalyst made a strong impression over the course of the event. Taking part in the panel “Success Stories and Lessons Learnt from a Mini-Grid Developer and Financier Perspective”, Nathan Sermonis, CEO and co-founder of battery storage-as-a-service innovators Vittoria Technology, addressed how investors are often deterred by the high cost of structuring smaller facilities comparable to that of larger ones, making smaller deals less appealing, especially when complex deal structures are involved. The panel discussed collaborative models as a means of addressing this issue, such as aggregating smaller developers to form investable portfolios, and leveraging developer-operator frameworks whereby commercial banks retain ownership of assets while operators manage and develop them, which reduces capital strain on the operator while maintaining stable cash flows.

In addition, Cleopatra Adwar, Head of Programmes at E-SAFIRI – an Energy Catalyst-supported project – pitched during the “DRE Technology and Innovations from the Field” session, outlining the significant market potential of the company’s e-mobility charging infrastructure innovation, including a USD $4.9 billion total addressable market and a $499 million serviceable segment. Her exemplary presentation showcased not only the technical strengths and traction of E-SAFIRI’s innovation but clearly mapped out its investment needs, intended fund allocation, financing timelines, and preferred instruments spanning grants, equity, and credit.

More broadly, the delegates attended a wide range of thematic discussions, seeking out actionable insights into emerging technological innovations, bottlenecks, financing opportunities, new partnerships and supportive policy frameworks within renewable energy value chains. Whilst such discussions were realistic about the persistent gap in accessible and well-structured financial instruments to support growing enterprises, many of the delegates were struck by the pragmatism and resourcefulness of the proposed mitigatory measures highlighted in the sessions.

Speakers typically acknowledged that funding processes remain slow, with due diligence periods stretching up to two years, and often requiring match funding once initial capital is approved – causing further delays. Many investors lack sufficient insight into the revenue models and profitability timelines of renewable energy businesses, particularly those using PayGo models, which can take over a year to break even. On the demand side, affordability remains a hurdle, particularly for underserved populations, as found in displacement settings or remote rural areas for example, for whom upfront payments are unfeasible. Regulatory barriers further hinder sector growth, with weak policy frameworks and inadequate fiscal and carbon market regulation. Entrepreneurs often struggle with market comprehension while end users remain unaware of the benefits of available products. Meanwhile, the high cost of scoping potential investments and conducting due diligence adds friction for investors.

Despite these hurdles, an array of promising solutions were presented at the forum. Strengthening partnerships with public sector actors – such as ministries and government agencies – can catalyse investment and shape enabling regulation. Innovative financing mechanisms, including carbon and trade finance, can broaden access to capital across both supply and demand sides. Aggregating innovators operating in similar markets offers a path to achieving economies of scale, increasing investment appeal and lowering operational costs. Funders could collaborate to streamline due diligence by sharing assessments: if one funder has already vetted a company, others could use that due diligence to reduce their own requirements for providing match funding. Finally, investors and funders could work together on capacity-building provision – via mentorship, cohort-based training, and tailored technical assistance – to equip entrepreneurs with the skills needed to refine business models, develop robust financial projections, and become investment-ready.

Reflecting on the forum, Katie Brauer of Open Capital Associates, who led the delegation, noted “It was great to see investors actively seeking out information about innovative projects on the brink of scale-up and being transparent about their investing criteria. It was also encouraging to see widespread acknowledgement of the value in replicating proven models, simplifying financial instruments, and avoiding untested complexity. Let’s keep building on what we know works”.