The $780 million Scaling Up Renewable Energy in Low Income Countries Program (SREP), a funding window of the CIF, is empowering transformation in developing countries by demonstrating the economic, social, and environmental viability of renewable energy.

Channeled through the multilateral development banks, SREP financing supports scaled-up deployment of renewable energy solutions to increase energy access and economic opportunities. A total of $194 million (25% of SREP funding) is approved and under implementation and expecting $1.2 billion in co-financing from other sources.

The SREP employs a programmatic approach that builds off of national policies and existing energy initiatives. It is attracting attention from investors, as well as other developing countries, by:

To extend the SREP’s reach beyond national and regional investment plans and to stimulate more private sector participation, concessional financing has been set aside to be awarded on a competitive basis for private sector projects advancing the goals of the SREP. Private sector concept projects totaling $92.4 million have been endorsed for further preparation and approval. This financing is expected to secure significant amounts of co-finance at a rate of almost 20:1.