The Renewable Energy and Energy Efficiency Partnership announces a 2.2 million Euro investment in 32 global clean energy projects
The Renewable Energy and Energy Efficiency Partnership (REEEP) today announced 32 new projects for funding. The funding round, REEEP's fourth, represented the largest funding round in REEEP's three year history. "More projects have been funded in the areas of financing models and energy efficiency, than in previous rounds," stated Morgan Bazilian, REEEP Programme Board Chair. "REEEP has also expanded its priority countries from six to twenty countries and we are engaging some countries for the first time, such as Guatemala, Kazakhstan, Liberia and Tunisia."
The increased funding was driven by the G8 dialogue last November when the UK government announced that a further £2.5 million pounds would be provided in 2006/7 and 2007/8. In addition, the UK Foreign Ministry also announced the provision of £1 million. The REEEP has been able to leverage this funding by a factor of six as REEEP funding is attracting co-financing from other agencies as diverse as USAID, Cordaid Netherlands, the budgets of local municipalities in South Africa and also from other donors such as the government of Ireland. "REEEP is an ideal mechanism to help secure funding for renewable energy and energy efficiency activities in developing countries," stated Dick Roche, Environment Minister for Ireland.
Ten of the thirty-two projects are in Africa as the continent has been targeted as a key REEEP region in 2006. The majority of projects are focused on identifying business models, whether that be for solar water heating, small hydro in the tea industry or in developing biofuels across the region. "Financial barriers to renewable energy and energy efficiency in Africa are significant," stated Glynn Morris, REEEP Southern Africa Regional Secretariat Director. "By working with financial institutions, the carbon market and local government we're hoping to build the business case from the bottom-up."
The built environment is another area of focus in this year's funding round and a number of energy efficiency projects target the APEC region, most notably China, as well as Russia and the Commonwealth of Independent States. "About one third of energy consumption worldwide is in buildings," stated Marianne Osterkorn, REEEP International Director. "If one assumes that worldwide there is a technical saving potential in energy consumption in buildings in the range of 50 % of energy used in buildings, then today almost 17 % of total global final energy consumption can be avoided due to energy savings measures in buildings.
REEEP's policy and regulatory work will continue as well, with further assistance provided to the Chinese government for the implementation of their Renewable Energy Law, but also to a pan-Latin American project designed to assess the required policy instruments to accelerate the markets for wind, solar and biomass.
Innovative finance is another area that REEEP is continuing to support as the partnership is promoting the Gold Standard CDM methodology in Africa, Asia and South America. This funding round also has an interesting Tradable Renewable Electricity Certificates (TRECs) project in Tunisia thanks to donor funding from Italy. Corrado Clini, the Director General of the Italian Ministry for the Environment and Territory stated that "Africa needs to develop and disseminate opportunities for innovative approaches to financing that may be generated through the carbon market - Kyoto mechanisms - and through the implementation of a tradable renewable energy certificates system involving all Mediterranean countries."
"The projects we're backing promise to deliver replicable models for renewable and energy efficient development. Our partnership of governments, NGOs and businesses is helping to establish a stable global marketplace for clean energy," explained Ms. Osterkorn.
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