Kenya’s Menengai geothermal power plant, bolstered by $25 million from the SREP, is expected to inject 400 megawatts of electricity into the national grid by 2017, boosting current production by close to a third and expanding energy access, reducing shortages, and attracting more private investment in the nation. Thomson Reuters Foundation reports.
Nepal’s first ever Waste to Energy Bazaar, backed by the SREP, heralds a new era of entrepreneurship in Nepal and builds excitement about this emerging renewable energy sector.
The US$7.6 billion Climate Investment Funds (CIF) wrapped up a week of meetings on Friday, May 3 with endorsement of Haiti’s $25 million program for climate resilience under the Pilot Program for Climate Resilience (PPCR), approval of five revised investment plans for the Clean Technology Fund (CTF), and agreements on operational improvements to speed project implementation and enhance private sector engagement.
The CIF has launched a call for innovative proposals that engage the private sector in REDD+, climate resilience, and renewable energy in FIP, PPCR, and SREP pilot countries. Over $200 million in concessional funding has been set aside to advance investment plans under the three programs.
Over 200 public and private sector representative from around the world gathered in Istanbul, Turkey in November 2012 for the CIF Private Sector Forum to exchange lessons, engage with entrepreneurs, and explore ways to unlock private capital for climate-friendly initiatives. The Results Book highlights key discussions and findings.
Now until April 20, entries are being accepted for the Nepal W2E Bazaar, designed to harvest the most innovative ideas in converting waste to energy in Nepal. Hosted by the Nepalese government and supported by the SREP and World Bank.
At a CIF Partnership Forum event hosted by the African Development Bank on November 7, 2012 in Istanbul, a panel of speakers considered key points underpinning private sector investment in CIF operations and lessons from specific countries which have been successful at attracting private sector investment.
With support from the World Bank and the Clean Technology Fund ($271 million pledged), Turkey is growing its sustainable energy production and energy efficiency. To date, the CTF has resulted in GHG emission savings of 4.0 million tons of CO2 per year, surpassing the government-set target by 25%.
Addressing the closing plenary of the CIF 2012 Partnership Forum in Istanbul, the Turkish Minister of Energy and Natural Resources said, “Partnering with the multilateral development banks through the CIF has contributed to Turkey’s efforts to scale up investments in energy efficiency, renewable energy, and smart grids by empowering its own national private and banking sector."
The US$ 7.2 billion Climate Investment Funds (CIF) wrapped up week-long meetings in Istanbul on November 6 with over US$ 500 million in financing allocated by the Trust Fund Committees and Sub-Committees for building climate resilience and disaster preparedness, REDD+, and clean technologies in developing countries.