Scaling Up Renewable Energy in Low Income Countries Program
SREP and CTF financing totaling $746 million is allocated to advance geothermal projects that could lead to 2.9 GW in capacity (over 20% of existing 13 GW installed capacity). Photo: Isaiah Esipisu/TRF
The $796 million Scaling Up Renewable Energy in Low Income Countries Program (SREP) is a funding window of the $8.1 billion Climate Investment Funds. It was established to scale up the deployment of renewable energy solutions in the world’s poorest countries to increase energy access and economic opportunities. Channeled through five multilateral development banks (MDBs), SREP financing aims to pilot and demonstrate the economic, social, and environmental viability of low carbon development pathways building off of national policies and existing energy initiatives.
- SREP $501 is allocated to 44 projects and programs that expect $3.3 billion in co-financing and aim to support the installation of 840 MW in renewable energy capacity and improve energy access for 14 million people—equal to the population of Senegal.
- To date, SREP $136 million (27% of allocations) is approved for 12 projects with expected co-financing of $1 billion. Technologies supported include solar, wind, bio-energy, geothermal, small hydro power, and cook stoves.
- Demand for SREP support is strong. Forty countries have expressed interest in joining the SREP. Fourteen new countries were selected in June 2014—mostly from Africa—expanding SREP pilot countries to 27, including one regional program.
SREP Pilot Countries and Programs:
|Zambia||Pacific Regional Program: Solomon Islands | Vanuatu - Pacific Regional Component|
SREP and the Private Sector
To extend the SREP’s reach beyond national and regional investment plans and stimulate more private sector participation, $92.4 million in concessional financing has been set aside for innovative private sector projects in SREP pilot countries. This financing is expected to secure significant amounts of co-finance at a rate of almost 20:1.
- 1st call for proposals in 2013: Four projects endorsed totaling $59.6 million in Honduras (renewable energy) , Mali (solar), Kenya (solar), and Nepal (energy access)
- 2nd call for proposals in 2014: Three projects endorsed totaling $32.8 million in Honduras (renewable energy) and Kenya (geothermal, climate innovation)
Measuring Results and Learning
For SREP country and program evaluation, performance data and progress reports, view the SREP Monitoring and Reporting section.
Multilateral Development Bank Focal Points:
Kurt Lonsway, Manager, email@example.com
Joao Duarte Cunha,Chief Climate Finance Officer, firstname.lastname@example.org
Jiwan Acharya, Climate Change Specialist (Energy), email@example.com
Andreas Biermann, Senior Policy Manager, firstname.lastname@example.org
Marta Simonetti Whitford, Principal Manager, Donor Co-Financing, VP Policy, email@example.com
Claudio Alatorre, Sr. Climate Change Specialist, firstname.lastname@example.org
Gloria Visconti, Sr. Climate Change Specialist, email@example.com
Joyita Mukherjee, Sr. Operations Officer, firstname.lastname@example.org
Andrey Shlyakhtenko, Operations Officer, AShlyakhtenko@ifc.org
Laura Gaensly, Operations Officer, email@example.com
Karan Capoor, Senior Energy Specialist, firstname.lastname@example.org
Federico Querio, Energy Specialist, email@example.com
SREP Semi-Annual Operational Report
Click above image to view latest report.