Onshore wind and Solar PV power are now competitive with new fossil fuel generation in an increasing number of locations due to declines in system component prices and to improvements in generation efficiency.

Such declines are particularly important in developing and emerging economies where electricity prices tend to be high (if they are not heavily subsidised), where there is a shortage of generation and where renewable energy resources are particularly plentiful, making renewable electricity more competitive relative to other options. Many developing countries are racing to bring new power generating capacity online to meet rapidly rising electricity demand, often turning to renewable technologies (that may be grid-connected or off-grid) through policies such as tendering or feed-in tariffs (FITs) to achieve this desired growth quickly.

There is a significant amount of finance now seeking a limited number of renewable energy projects in Sub-Saharan Africa. Rencore aims to plug that gap by increasing the pipeline of investment grade and bankable projects, with focused funding and the provision of skills in the development phase of the projects.