Press Releases

  • 3 million Euro available for clean energy projects across developing world: March 30 is last date for applications

    8 March 2007

    The Renewable Energy and Energy Efficiency Partnership (REEEP) has announced the availability of 3 million Euro for projects supporting the development of markets for renewable energy and energy efficiency. The project call - REEEP's largest in its four-year history - is meant specifically for emerging market economies like India. REEEP has previously disbursed 2.2 million euro in 2006 and 1.1 million euro in 2005.

    The project call received funding from a consortium comprised of Ireland, Italy, New Zealand, Norway and the United Kingdom. Norway, the new major donor of REEEP, and the United Kingdom will be pooling funds allowing for larger investments into projects; Ireland and Italy will continue their focus on Africa; and New Zealand will bring small island states in the Pacific into focus.

    The REEEP call is an open tender seeking projects from priority countries - China, India and Brazil and from across the developing world. Based on the experience gained over the last two years with a bottom-up approach to selecting projects, REEEP will be piloting a combination of bottom-up (i.e. projects submitted by different organizations) and top-down (i.e. projects which REEEP has identified for implementation in the region to which organizations in the region can apply) commissioned strategic projects.

    REEEP is inviting countries with specific legislative or regulatory needs or development finance institutions with need for financing and business models to develop a project directly with REEEP. It is hoped that by assisting governments with lowering risk within the renewables and energy efficiency sector and working with development agencies to encourage business and finance models, finance can be attracted into new markets.

    REEEP has also decided to further increase the importance of energy efficiency in its portfolio and throughout emerging markets. The project call will be seeking bidders for the production of a REEEP Report on Energy Efficiency – in order to accurately portray the benefits and role that energy efficiency can play in improving energy security, lowering carbon emissions, and enhancing industrial competitiveness, covering the market, policy, stakeholders and key initiatives.

    The call for project proposals will also commission work around reducing the risk of investing into renewables and energy efficiency, synthesizing REEEP experiences from its 50 previous projects and replicating successes achieved in the 18 completed projects.

    Dr Marianne Osterkorn, REEEP International Director stated that the partnership can now add value across a number of areas. "We can now fund larger and longer term projects and in addition to our bottom-up approach, the targeted approach will help to strategically accelerate key markets for renewable energy and energy efficiency".
    Dr R K Pachauri, Director-General of TERI, said, "We look forward to this initiative for identifying projects that make a real difference in the context of sustainable development in the South Asia, while offering opportunities for offsetting carbon".