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Financing Energy Access : The GEF Experience

Financing Energy Access : The GEF Experience. Dimitrios Zevgolis, Climate Change Specialist Global Environment Facility . Results. Off-grid photovoltaic and solar home systems Over 70 projects in 68 countries GEF funding of US$ 361 million, cofinanced at a ratio of 1:7

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Financing Energy Access : The GEF Experience

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  1. Financing Energy Access:The GEF Experience Dimitrios Zevgolis, Climate Change Specialist Global Environment Facility

  2. Results • Off-grid photovoltaic and solar home systems • Over 70 projects in 68 countries • GEF funding of US$ 361 million, cofinanced at a ratio of 1:7 • Installation of estimated nominal peak power of 124 MW • Small Hydropower mini-grid systems for rural communities • 44 projects with US$ 170 million of GEF funding and US$ 1.34 billion of cofinancing • 411 MW installed capacity, mostly for rural electrification • Power from biomass • In 37 countries, the GEF has funded investments in 330 MW electric and 185 MW thermal with US$ 270 million that leveraged US$ 2 billion of cofinancing

  3. GEF Strategy • Create conducive markets to renewable energy • policy and regulatory support and capacity building • establishing financing mechanisms for investment in the deployment and diffusion of renewable energy technologies. • Invest in the transfer of RETs • expand investments in the transfer of commercially proven RETs • market demonstration and commercialization of new technologies • Promote access to modern energy services • decentralized production of electricity and heat using indigenous renewable sources, particularly in Sub-Saharan Africa, South Asia, and SIDS

  4. Lessons learned • Appropriate technologies for appropriate uses • Necessary to involve non-energy authorities • Community participation not only at implementation, but also at development • Microcredit schemes are critical • Projects should not rely on possible reallocation of subsidies • Cross-sectoral projects are more cost-effective • Flexibility into the repayment plans to accommodate volatile market conditions • Private equity model is not the answer

  5. Discussion points • How can financing be constructively used to grow the market for clean technologies in the rural areas of developing countries? • What is the best method or approach to delivering clean or low-carbon systems for energy access?

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