The Global Energy Alliance for People and Planet (GEAPP) has unveiled an ambitious new five-year strategy to catalyze $7.5 billion in renewable energy projects across developing economies. Launched in 2021 with foundational backing from the Bezos Earth Fund, Rockefeller Foundation, and IKEA Foundation, the initiative is ramping up its fundraising targets and forging fresh partnerships, as global climate finance flows from wealthy nations recede.

With recent data from the Organisation for Economic Co-operation and Development (OECD) revealing that official development aid (ODA) dropped by 7.1% in real terms in 2024—a first in six years—the need for innovative funding approaches has become urgent. Many developing countries, already facing mounting energy deficits and the adverse impacts of climate change, now risk falling further behind unless alternative capital sources are mobilized.

Scaling Clean Energy Amid Global Headwinds

GEAPP’s strategy centers on leveraging philanthropic investment to de-risk clean energy projects and crowd in capital from multilateral development banks, private investors, and national governments. According to executives, the alliance will seek at least $500 million in new philanthropic capital, which it intends to leverage approximately 15 times to achieve its $7.5 billion goal by 2030. The urgency of this target is underscored by the International Energy Agency’s (IEA) estimate that clean energy investments in developing economies outside of China must increase sixfold, reaching $1.6 trillion annually by the early 2030s, to align with global climate goals.

“With global aid budgets under pressure, we need new models to deliver energy development at scale,” said Woochong Um, GEAPP’s chief executive, at the sidelines of New York Climate Week and the United Nations General Assembly in September 2025. He emphasized the creation of an “Energy and Opportunity Coalition,” which seeks to embed renewable power solutions in crucial sectors such as agriculture, healthcare, and digital infrastructure.

Impact Across Continents: Projects and Progress

Since its launch, GEAPP has helped more than 30 countries advance their energy transition programs. Its efforts have included bolstering national grids, pioneering battery storage deployments, and supporting employment in the green economy. Notably, GEAPP played a pivotal role in delivering India’s first utility-scale, standalone battery storage system—an innovation that is now being replicated across Africa, Latin America, and Southeast Asia.

Digital intelligence is central to GEAPP’s vision of “Grids of the Future.” In Jaipur, India, GEAPP collaborated to develop a live digital map of 6.5 million utility assets, enabling both predictive and preventive grid maintenance. This technology is projected to save over $50 million annually by reducing outages and operational inefficiencies. The alliance now aims to replicate similar systems in a total of 30 utilities worldwide—10 each in India, Africa, and Latin America & Southeast Asia—establishing a global backbone of smart, resilient, and renewables-ready power distribution.

GEAPP’s cumulative impact in its first five-year phase includes mobilizing $7.8 billion in financing, expanding or improving energy access for nearly 240 million people, and contributing to a projected reduction of 952 million metric tons in carbon emissions. These achievements put the alliance at the forefront of clean energy access and emissions reductions efforts for low- and middle-income countries.

Adapting to a Tougher Funding Landscape

Cuts in climate-related aid by major economies, notably the United States, have heightened the stakes for partnerships like GEAPP. The U.S. has historically been a leading provider of development and climate finance, but recent policy shifts and budget constraints have resulted in the scaling back of critical funding streams. As a consequence, philanthropic and blended finance models—as promoted by GEAPP, the World Bank, Britain, Denmark, and private sector partners such as GE Vernova—are becoming increasingly vital for project delivery in emerging markets.

GEAPP’s expanding coalition also positions it as a prominent voice in ongoing global climate fora. As the world looks ahead to the COP30 summit in Brazil in November 2025, the financing challenge for developing nations will once again take center stage. Leaders are expected to discuss not only direct funding but also the policy and regulatory reforms needed to foster large-scale deployment of renewable technologies—spanning solar, wind, energy storage, and grid modernization.

Future Focus: Inclusive Energy Transitions

A significant element of GEAPP’s future strategy is ensuring the inclusivity and sustainability of energy transitions. This means not only facilitating access—especially in rural and underserved communities—but also supporting gender-inclusive employment, stimulating local economies, and building technical capacity domestically. In regions with high renewable resource potential but limited technical infrastructure, pairing digital grid intelligence with accessible financing can lower the cost of capital and accelerate adoption.

The alliance also aims to align its interventions with broader U.N. Sustainable Development Goals (SDGs), notably SDG 7 (affordable and clean energy) and SDG 13 (climate action). Its partnerships extend across government ministries, development banks, local utilities, and international agencies to ensure coordinated, scalable impact.

Call to Action from the Financial Sector

For private sector investors, GEAPP is sending a clear signal: investing in renewable energy for developing economies offers not just environmental returns, but also robust economic and social dividends. With mounting evidence that supporting green infrastructure enhances resiliency and productivity, GEAPP believes that sustaining the momentum of global climate action will require persistent engagement from institutional investors, asset managers, and corporate stakeholders.

As philanthropic foundations, such as those led by Jeff Bezos and other high-net-worth individuals, increase their commitment, multilateral cooperation and innovative financing structures will likely be the linchpins of a successful, equitable global energy transition. The next five years—and the results from this alliance—will help determine whether emerging economies can leapfrog to a clean, resilient, and inclusive energy future.