- The Global Energy Alliance for People and Planet (GEAPP) is raising $7.5 billion to expand renewable energy access across Africa, Asia, and Latin America.
- It co-finances initiatives like Mission 300, proving its central role in bridging philanthropy and multilateral funding for the energy transition.
The Global Energy Alliance for People and Planet (GEAPP) aims to raise $7.5 billion to fund its 2026–2030 plan to expand renewable energy in Africa, Asia, and Latin America as international public funding declines.
GEAPP, launched at the COP26 climate summit in 2021, said it would seek $500 million in new philanthropic commitments and leverage that capital 15 times to reach its target—the Ikea Foundation, the Rockefeller Foundation and the Bezos Earth Fund back the alliance.
The group also operates like a venture capital fund, using philanthropic money to de-risk projects and attract additional financing from multilateral banks, donor governments and private investors.
Meanwhile, in its first five-year phase, GEAPP said it mobilised $7.8 billion and helped provide electricity access to 240 million people.
The Organisation for Economic Co-operation and Development (OECD) reported that official development assistance fell 7.1% in 2024, partly driven by U.S. disengagement from global development efforts. That drop has left poorer nations with fewer financing options, pushing alliances such as GEAPP and Mission 300 into a more prominent role.
Furthermore, Mission 300, a World Bank and African Development Bank initiative, aims to connect 300 million Africans to power by 2030. GEAPP said it co-financed the effort, starting with a $10 million package for 15 projects in 11 African countries.
The group said its approach positions it as a bridge between philanthropic donors and multilateral institutions seeking to accelerate the global energy transition.