The SPV would support the registration of separate carbon credit projects for each sector and region. Early adopters could be the commercial and industrial (C&I) or minigrid sector developers in East Africa, as Mirova SunFunder has identified a number of companies that could immediately benefit from the structure. 

The SPV could be available both to Mirova SunFunder’s clients and other companies that meet the eligibility criteria. Carbon credit projects could be developed by the SPV over time to reach as many enterprises as possible. The funding that investors provide to the SPV would be used to purchase the carbon rights from developers; capital providers would be repaid with the proceeds of the carbon credit sales.

Mirova SunFunder would manage the project in cooperation with a carbon credit broker that offers end-to-end expertise from feasibility and design to implementation and securing carbon revenues. Together with their partners, Mirova SunFunder will explore the feasibility to develop a digital platform based to templatize the process facilitating data collection, ultimately streamlining the process.

How does it work?

1. Mirova SunFunder will develop a carbon credit project in partnership with a carbon credit broker. 

2. The carbon aggregator will pool carbon rights from several companies in the same sector. 

3. Eligible companies under the project will enter into a contract with the SPV to sell carbon rights to SPV.

4. Eligible companies will register the project with the support of the parties involved in the SPV and go through the process required for crediting.

5. The SPV will endeavour to create templates to standardize the verification process.