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Leveraging Financing for Renewable Energy Access: The GEF Experience

This overview highlights the Global Environment Facility's impactful approach to enhancing energy access through renewable resources. With a funding portfolio of over $361 million, GEF has invested in off-grid photovoltaic systems, mini-hydropower setups for rural communities, and biomass energy projects across 68 countries. Key strategies involve market creation for renewable energy, policy support, and capacity building. Lessons learned emphasize community participation and the need for microcredit schemes. The document prompts a discussion on effective financing and delivery approaches for clean energy technologies in developing nations.

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Leveraging Financing for Renewable 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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