The Sustainable Energy Marketplace for Latin America and the Caribbean, a joint initiative led by IDB and the International Renewable Energy Agency (IRENA) is pleased to announce that it will award up to $300,000 in technical assistance to advance the development of six renewable energy projects. The six projects were selected following an evaluation process which considered a total of 76 projects from 16 IDB member countries. Proposals were submitted via the Sustainable Energy Marketplace platform maintained by IRENA, which has webpages focusing specifically on Latin American and Caribbean projects. Technical assistance will be sponsored by the Sustainable Energy for All Americas initiative, and the project on climate technology transfer mechanisms and networks financed by a grant from the Global Environment Facility (GEF). The call for proposals was launched in November 2015 and closed on March 1st, 2016.
The Sustainable Energy Marketplace is a virtual platform developed by IRENA that gives renewable energy project developers and investors a simple way to connect. The marketplace aims to scale up existing global investment and to support the channeling of public and private finance to meet market demand. Project developers, financiers, and service and technology suppliers can register and work together to realize projects and scale up renewable energy in developing countries.
The six selected projects are listed below.
|Project title||Lead proponent||Country|
|Distributed Solar Photovoltaic Generation with Storage||Secretaria de Estado de la Energia de la Provincia de Santa Fe||Argentina|
|Photovoltaic systems in 104 educational institutions in the subregion of Sanquianga||Gobernación de Nariño||Colombia|
|Wind power in La Cañada||Vientos de La Cañada S.A. de C.V.||El Salvador|
|Scaling up energy access solar microgrids||EarthSpark International||Haiti|
|Grensa Honduras||Grensa Green Energy Honduras||Honduras|
|Carbon Management Plan||Secretaría de Medio Ambiente y Desarrollo Territorial, Jalisco||Mexico|
The scope and conditions for technical assistance will be defined jointly and, if an agreement is reached with the IDB, the assistance will consist of funding studies on social, environmental, financial, technical and economic feasibility or due diligence, legal structuring or other issues related to advancing the project. The goal is to enable the projects to develop into financially sustainable businesses.
What is SE4All Americas?
The Sustainable Energy for All (SE4All) initiative is a multi-stakeholder partnership between governments, the private sector, and civil society. Launched by the UN Secretary-General in 2011, it sets out to achieve three interlinked objectives by 2030:
- To ensure universal access to modern energy services.
- To double the global rate of improvement in energy efficiency.
- To double the share of renewable energy in the global energy mix.
About the sponsors and implementing partnersThe IDB is one of three regional Hubs that form part of the global initiative. The IDB supports the initiative in Latin America and the Caribbean through Sustainable Energy for All Americas (SE4All Americas), while the African Development Bank and Asian Development Bank work with the initiative in other regions. IRENA is the SE4All Renewable Energy Hub, together with other 4 Thematic Hubs.
The Inter-American Development Bank (IDB) is the largest source of financing for development in Latin America and the Caribbean. Through financial and technical support for countries working to reduce poverty and inequality, the IDB helps improve health and education, and advance infrastructure. The IDB aim is to achieve development in a sustainable, climate-friendly way. The IDB provides loans, grants, and technical assistance; and conducts extensive research.
The International Renewable Energy Agency (IRENA) is an intergovernmental organization that supports countries in their transition to a sustainable energy future. The organization promotes the widespread adoption and sustainable use of all forms of renewable energy, including bioenergy, geothermal, hydropower, ocean, solar and wind energy – in the pursuit of sustainable development, energy security and a stable climate.