The SREP was approved by the SCF Trust Fund Committee in May 2009 to demonstrate the economic, social and environmental viability of low carbon development pathways in the energy sector in low-income countries.  It aims to help low-income countries use new economic opportunities to increase energy access through renewable energy use.

 

The SREP stimulates economic growth through the scaled-up development of renewable energy solutions and, it acts as a catalyst for the transformation of the renewables market by obtaining government support for market creation, private sector implementation, and productive energy use.

 

Recognizing the significant role the private sector has in promoting renewable energy, SREP promotes both public and private sector actions to remove barriers that might otherwise inhibit scaled-up private sector investments.

 

SREP is country-led and builds on national policies and the activities of other existing energy initiatives. It will operate in a small number of low-income countries to maximize its impact and demonstrative effect.