The Global Energy Alliance for People and Planet (GEAPP) plans to invest approximately $7.5 billion over the next five years to accelerate the adoption of renewable energy in developing countries. The alliance is actively seeking additional philanthropic partners to compensate for declining government aid from wealthier nations. Launched at global climate talks in 2021, GEAPP has already helped thirty-plus countries enhance electricity grids, implement battery storage solutions, and create jobs in the green economy.
Innovative Financing to Reduce Risk
GEAPP mobilizes low-cost or philanthropic capital to de-risk investments and attract funding from multilateral development banks and private sector lenders. However, the task has grown more challenging following reduced development aid and climate finance, particularly from the U.S., under recent administrations.
Founded by the IKEA Foundation, The Rockefeller Foundation, and the Bezos Earth Fund, GEAPP has expanded its partnership network to include countries like Britain and Denmark, the World Bank, and private sector players such as GE Vernova.
“With aid budgets under pressure, we need new models to deliver development at scale,” said Woochong Um, Chief Executive of GEAPP. Plans include launching an Energy and Opportunity Coalition to integrate green energy across sectors such as agriculture and health.
Preparing for Global Climate Dialogues
As world leaders gather in New York for the U.N. General Assembly and Climate Week, GEAPP is exploring new partnerships and preparing for the next global climate conference in Brazil this November, where financing renewable transitions in developing countries will be a key focus.
Meeting the Scale of the Challenge
The International Energy Agency (IEA) estimates that clean energy investment in developing nations outside China must increase six-fold to $1.6 trillion by the early 2030s to meet global climate goals. Meanwhile, official development aid fell 7.1% in real terms in 2024, the first decline in six years, driven largely by a reduction in U.S. funding. This trend has intensified pressure on alliances like GEAPP to expand their range of backers.
Digitally Intelligent, Renewable-Ready Grids
GEAPP is scaling up its “Grids of the Future” initiative, ensuring power systems in emerging economies are renewables-ready, digitally intelligent, and financially sustainable. With battery storage projects underway in over 20 countries, including India’s first standalone utility-scale system, GEAPP is also digitizing millions of grid assets. For example, in Jaipur, India, the creation of a live digital map of 6.5 million utility assets allows utilities to detect and resolve issues before outages occur, saving over $50 million annually. The alliance aims to replicate this model across 10 utilities in India, 10 in Africa, and 10 across Latin America and Southeast Asia, building a global backbone of digital, renewable-ready distribution networks.
Progress and Future Goals
Over its first five-year plan, GEAPP mobilized $7.8 billion in financing, delivering improved energy access to nearly 240 million people and reducing carbon emissions by 952 million metric tons. As reported by thehindubusinessline.com, for the 2026–2030 period, the alliance aims to raise at least $500 million in philanthropic capital. It plans to leverage this about 15 times to unlock the $7.5 billion target, further accelerating the renewable energy transition in developing nations.
