Global group invest Euro 1 million for clean energy projects
LONDON, England, May 25, 2005 (Refocus Weekly)
Accelerating the market development of renewables is the objective of Euro 1 million in funding for 18 projects in Africa, Asia, North America, Latin America and Europe.
The Renewable Energy & Energy Efficiency Partnership says the projects
range from blueprints for national renewable energy policies, to support for
clean energy funds. Half of the projects focus on establishing policy and
regulatory models, with the balance on new financing techniques, with two-thirds
of the projects in renewable energy and one-third in energy efficiency.
“The projects we’re backing promise to deliver replicable models for
renewable and energy efficient development,” says Marianne Osterkorn of REEEP
. “Our partnership of governments, NGOs and businesses is helping establish a
stable global marketplace for clean energy.”
The 18 funded projects were selected from 296 proposals which were short-listed
to 69 which submitted full proposals. Preliminary outcomes are expected by the
end of this year with final completion next March.
Among the latest projects is assistance to the government of Mexico to develop a
national policy on renewable energy and to Russia for developing a new financing
mechanism for energy-efficient district heating. The government of China had
earlier received funding from REEEP to develop a national roadmap for its wind
industry.
Projects have been funded in central and eastern Europe, with support for clean
energy enterprises in Poland and the Czech Republic, as well as measures to
remove energy efficiency barriers in Moldova, Armenia, Ukraine, Russia, Bosnia
& Hezegovina, Serbia and Montenegro. Continuing support will go to support
establishment of dedicated clean energy funds in Brazil and Asia, and to finance
the first comprehensive database of renewable energy laws around the world.
REEEP will also fund projects which provide models for poverty alleviation
through clean energy, and include financing models for solar water heating in
Brazil and the Caribbean, and promoting policy models for energy efficient
municipal water supply in South Africa, and solar PV village power in Mongolia.
Lead organisations include the International Energy Agency, Winrock
International, Western Governors Association, Energy & Resources Institute,
Alliance to Save Energy, Centre for Renewable Energy Development, Fiorello H.
LaGuardia Foundation and IT Power.
Key priorities for funding include expanded support to existing funds that
reflect best practice, creation of additional renewables finance facilities and
funds in under-served markets with identified potential, seed capital for fund
structuring and initial capitalisation of funds, Identify opportunities for
innovative approaches to funding that may be generated through the carbon
market, adaptation of orthodox financial mechanisms and business structures for
renewables, systems that will provide a testing ground for Tradable Renewable
Certificates or similar products in partner countries, initiatives to establish
mechanisms and facilities that address the issues of risk reduction and
mitigation, promote public and private sector investment within all areas of the
renewables market, and support an international network that identifies existing
sources of finance and potential linkages that can mobilise the “massive and
innovative capital needs” for renewables.
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