The Global Renewable Independent Power Supplier (“Grips”) combines the activities of an independent power producer (“IPP”) and an energy service company (“ESCO”). We supply commercial and industrial energy consumers across all sectors with reliable, competitively priced, renewable-focused energy – grid-independent and 24/7.
In aggregating several of these projects into an investable portfolio, we connect energy consumers with investors. This fosters economic growth in areas that are currently without stable energy supply and facilitates CO2-reduction.
Large energy consumers seeking affordable and stable power in remote areas usually rely on expensive fuel and inefficient, and carbon-intensive diesel generators. Although renewable energy is almost always cheaper than diesel power, financing is a big challenge. Upfront investments and the non-core business nature of power supply prevent most energy consumers from financing renewable power plants on their own. External funding is typically expensive or not available at all.
Grips is a one-stop shop for sustainable energy supply on the basis of flexible power purchase agreements (“PPAs”) with initial durations as short as five years. Our customers do not incur any capital expenditures since Grips finances and implements the projects. Our grid-independent renewable hybrid systems provide reliable, competitive and clean energy. By aggregating several of these projects into an investable portfolio, we connect energy consumers with investors. This fosters economic growth in areas that are currently without stable energy supply and facilitates CO2-reduction.
Winner of Finance for Resilience (FiRe) 2016
On 5 April 2016, Grips was announced a winner of Finance for Resilience (“FiRe”) at the Bloomberg New Energy Finance (BNEF) “The Future of Energy” Summit in New York. FiRe is an action-oriented, international platform screening for ideas that accelerate finance for clean energy, climate, sustainability and green growth. FiRe is focused on actionable, private sector-led interventions that bear the potential of significant incremental finance and can be implemented independently from the international policy process of climate change.
Finalist at the Climate Finance Lab
In 2014, still in concept phase, Grips applied in the first cycle of the Global Innovation Lab for Climate Finance (“Climate Finance Lab”). The Climate Finance Lab is a global high-profile initiative that supports the identification and piloting of cutting edge climate finance instruments. It aims to drive billions of dollars of private investment into climate change mitigation and adaptation in developing countries. Out of over 90 ideas handed in, Grips was one of the seven to qualify for the finals.
The initiative was funded by the UK Department of Energy & Climate Change (DECC), the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB), and the U.S. Department of State and was backed by a variety of development finance institutions, private sector companies and others. The overwhelmingly positive feedback that we received from both public and private sponsors strengthened the team’s decision to put Grips into practice.