Press Release | Feb 06 2017

Micro and mini grids hold great promise for electrifying 60 million household potentially in low-income countries, where large groups of people have never had access to electricity. Although the technology has been around for decades, recent technological innovations have reduced costs dramatically from US$4/kWh a decade ago to US$0.3-0.4/kWh in recent projects. Mini-grid systems are a welcome additional solution in national electrification programs allowing for power intensive productive activities- like welding, agro-processing, power tools - in areas where the main grid has not yet reached.  

From February 6 - 10, the Climate Investment Funds (CIF) and the World Bank’s Energy Sector Management Assistance Program (ESMAP) will host an international conference on mini grids in Naypyidaw, Myanmar.  Thanks to strong demand from developing countries, the CIF’s Scaling Up Renewable Energy Program (SREP) and World Bank have close to US$200 million approved for mini grid system deployment globally. 

The conference is part of a series of global events on mini grids. The event connects, for the first time, government officials from Myanmar and 20 other countries, with international and local private sector representatives to take action in operationalizing mini grids. Over 250 international and national high-level participants will address the question of how mini grids can be scaled up to meet the energy demand in a timely fashion in Asia and other parts of the world where access to electricity is a challenge.

Media are invited to the high-level technical conference on Tuesday morning, February 7th. To attend, RSVP to Kyaw Soe Lynn, email: klynn@worldbank.org

WHAT: International Action Learning Event on Electricity Mini Grids 2017; High-level speeches, and photo / media opportunity during break

WHEN: Tuesday 7th of February; 08:00 AM – 10 AM

WHO: Speakers include, among others:

  • H.E. Dr. Tun Naing, Deputy Minister, Ministry of Electricity and Energy, Myanmar (tbc)

  • U Khant Zaw, Director General, Department of Rural Development, MOALI, Myanmar

  • Mr. Abdoulaye Seck, World Bank Group Country Manager for Myanmar

  • Mr. Manoj Sinha, CEO, Husk Power, India

  • Ms. Xiaoping Wang, World Bank, Task Team Leader, Myanmar Nat. Electrification Program

  • Mr. Ricky Buch,Sr Marketing Leader, General Electric Power

WHERE: Hilton Nay Pyi Taw, JV-001 Taw Win Thiri Road, Naypyitaw 15011

PROGRAM: https://www-cif.climateinvestmentfunds.org/minigridsmyanmar

For media requests, please contact:

World Bank Group Myanmar office: Mr. Kyaw Soe Lynn

Email klynn@worldbank.org - Tel: +95-1-654-824

For more information: www.climateinvestmentfunds.org  and www.esmap.org

 

Press Release | Feb 01 2017

Download Press Release in Khmer

Phnom Penh, February 1, 2017-- Today the Climate Investment Funds (CIF) and the Asian Development Bank (ADB) host over 90 international and national high-level participants from 20 countries that are implementing programs to scale up renewable energy programs.

This meeting is part of the CIF’s ongoing commitment to fostering peer-to-peer learning among Scaling-Up Renewable Energy Program (SREP) countries on practical issues related to the design and implementation of climate-smart investment plans and renewable energy activities; as well as to identify concrete opportunities for collaboration between SREP and other relevant funds and programs.

Cambodia has set ambitious targets to achieve 100% village electrification and 70% of households connected to the national grid, by 2030.  In 2013, data showed that just 55% of households have access to electricity; one of the lowest rates in Southeast Asia.

The CIF’s $839 million SREP is supporting global efforts to scale-up of electricity access through renewable energy-based systems, such as mini-grids, geothermal, hydropower and solar. SREP funding is channeled through five multilateral development banks, including ADB, to support the deployment of renewable energy solutions to increase energy access and economic opportunities.

Participants will join conversations on a range of key topics, including Gender, Energy Access, and Productive Use, Transformational Change in Energy Access, and How Countries are Aligning Initiatives for Renewable Energy and Energy Access.

They will also have an opportunity to see how the host country is innovating in its energy sector to enable sustainable economic growth and to help remove the barriers that impede investments in renewable energy through visits to local renewable energy projects.

Questions: email Jacqueline Sibanda: jsibanda@worldbank.org

Media Requests: email Mr. Saroeun Bou: sbou@worldbank.org

More Information

 

Press Release | Jun 21 2016

Washington, D.C. (June 21, 2016) – The governing body of the $8.3 billion Climate Investment Funds (CIF) last week gave an important signal by asking the CIF to develop options for a financing vehicle to attract private capital investors for renewable energy and clean technology projects in developing economies.
 
The steering committee of the CIF's $5.6 billion Clean Technology Fund (CTF), consisting of donor and recipient countries, gathered in Mexico to discuss new financing modalities which could make CTF's assets attractive for institutional investors.  
 
The CIF's Manager Mafalda Duarte welcomed the decision, which comes at a time when research from Brookings shows investments in sustainable infrastructure of $90 trillion USD are required over the next 15 years: 
 
"This work breaks new ground for climate finance and such innovation is needed if we are to move from billions to trillions and deliver on the ambitious agenda of the Sustainable Development Goals.  Scaling-up investments can be particularly transformational in areas that have lacked funding or for technologies on the threshold of becoming economically viable.  These will be crucial to delivering a low-carbon future."
 
This potential avenue to tap into new and much needed private sector financing would support climate-smart investments in areas such as energy storage, distributed generation, sustainable transport and industrial and residential efficiency.
 
"We have seen time and time again that concessional or de-risking financing is essential to ramp up low carbon investments in emerging markets", Duarte added.  "Institutional investors can be risk averse but they do want to build up a greener portfolio.  The CTF offers a unique opportunity for them and will allow us to provide developing countries the financial support they need to pursue their low-carbon development plans."
 
The green-light came as recipient countries unanimously endorsed the CIF as a key vehicle to deliver on the ambition outlined in the Paris climate agreement.  Members emphasized the importance of tested and proven financing options to support climate actions in developing countries and that those lessons should be shared with all main players in the climate finance architecture. “The appreciation and wide-spread support for the CIF by developing country members need to be acknowledged”, said Zaheer Fakir, Committee member for the South African Department of Environmental Affairs. “Developing countries within the CIF value it as an important instrument for financing, innovating and coordinating with all important actors around national climate investment plans.” 

In this context, trust fund sub-committees decided to support the forest investment plans of Mozambique and Côte D’Ivoire with US$ 48 million in total which will allow the countries to address major drivers of deforestation as well as promoting rural development. Another decision supported the renewable energy investment plan of Cambodia with US$ 30 million enabling the country to develop a solar energy program, including rooftop solar systems and minigrids, as well as a biomass power project.
 


About the Climate Investment Funds: The US$ 8.3 billion Climate Investment Funds provides 72 emerging and developing economies with urgently needed resources to manage the challenges of climate change and reduce their greenhouse gas emissions. For more information: http://www-cif.climateinvestmentfunds.org/

Media contact: In Washington D.C – Angela Bekkers, Climate Investment Funds | Tel: +1 202 458 8831; mobile: +1 202 361 3459, Email: abekkers@worldbank.org

Download press release:  English

 

Press Release | Jun 20 2016

This week the Climate Investments Funds is celebrating the endorsement of three country investment plans under the CIF’s Scaling Up Renewable Energy in Low-Income Countries Program (SREP) and Forest Investment Program (FIP).  

Cote d’Ivoire’s forests offer huge potential and rich biodiversity but the country has one of the highest rates of deforestation in Sub-Saharan Africa.  FIP funding of $24 million (USD) will focus on restoring the country’s forest cover by working with small-scale farmers to introduce agroforestry techniques and improve agricultural productivity.  It will also contribute to the protection of the vast forest area of Tai National Park - a world heritage site and one of the last major remnants of pristine forest in West Africa - conserving its biodiversity and carbon stocks.

In Mozambique FIP funding of $24 million (USD) will focus on reducing emissions from deforestation and forest degradation while promoting rural development by supporting legal and institutional reform, addressing major drivers of deforestation as well as supporting communities to engage with the private sector.

In Cambodia SREP funding of $30 million (USD) – leveraging another $135 million USD from other sources - will focus on a solar energy development program, covering approximately 70% of total investment, which includes solar home systems, minigrids, rooftop solar systems and utility-scale solar farms.  The funding will also go towards a biomass power project as well as policy support and public awareness. 

Download the complete press releases here:

Press Release | Jun 12 2016

OAXACA - 12th June 2016 - This week Mexico is hosting the Climate Investment Funds’ governing body meetings as well as a knowledge exchange forum of the CIF’s forestry program. The meetings in Oaxaca bring together an audience of over 150 experts from about 50 countries, including representatives of developing and donor countries, international organizations and civil society.

Photo credit: CONAFOR

The official opening took place today, June 12, and included a welcome address by Mafalda Duarte, Manager of the Climate Investment Funds. “Mexico is a very fitting stage for these very exciting knowledge sessions. We have many countries in this meeting that offer valuable experiences about the sustainable use of forestry resources”, Duarte said, thereby referring to the $775 million Forest Investment Program (FIP) which is a funding window of the CIF and provides direct investments to benefit forests, development and climate.

The Mexican Government is presenting its community experiences in sustainable forest management to the 23 countries that make up the Forest Investment Program (FIP). Mexico was chosen in 2011 as a pilot country and has received 60 million dollars for four forestry projects.

Photo credit: CONAFOR

 “With the Forest Investment Program’s resources, matched by other funding sources of, for example, the World Bank, Mexican forestry communities have benefited from training and technical studies for forest land-use and land management”, said Jorge Rescala Pérez, Director-General of Mexico’s National Forestry Commission of Mexico (CONAFOR), during the opening session.

During this week’s meetings, the governing body of the CIF will decide on the future strategy of the funds. Other key issues concerning CIF’s Clean Technology Fund, its climate resilience fund (PPCR) and renewable energy program in low-income countries (SREP) will be discussed later this week. For the CTF, innovative ways to mobilize capital of institutional investors will be discussed. This would open up new investments into frontier areas, such as energy storage, distributed generation, sustainable transport, and residential and industrial energy efficiency, where an additional push could accelerate market development. Investment plans of Mozambique and Bangladesh, including funding envelopes, will be featured in designated committee meetings on forestry management and renewable energy, respectively.

Geothermal steam vents
Feature Story | Dec 07 2015

According to the International Energy Agency (IEA), full implementation of countries’ submitted pledges for low-carbon development will require USD 13.5 trillion in investments in energy efficiency and low-carbon technologies from 2015 to 2030.  That’s almost USD 1 trillion every year. This means all hands need to be on the deck if the global community is to address one of the biggest development challenges of our times.

CIF Mongolia endorsement
Press Release | Nov 24 2015

FOR IMMEDIATE RELEASE Tuesday November 17, 2015

CONTACT: Martin Hall: +1 202 4585540 / mhall3@worldbank.org

Washington, D.C. (November 16, 2015)—As the world gets ready for the UN climate summit in Paris, France later this month, the governing bodies of the $8.1 billion Climate Investment Funds (CIF) got down to business last week endorsing $205 million (USD) to support renewable energy expansion in some of the poorest countries of the world—Bangladesh, Mongolia, Rwanda, and Uganda—to increase electricity access, enhance energy security, reduce poverty, and mitigate climate change. This brings the CIF’s total allocations for renewable energy development in 40 countries to over $5 billion.

The CIF semi-annual Trust Fund Committees and Sub-Committees Meetings, which took place in Washington, D.C. from November 9-12, also took stock of CIF achievements in catalyzing clean technology transformations and addressed improvements to increase flexibility and innovative use of precious funding for climate action. The meetings shined a direct light on the urgent need for increased levels of financing to maintain momentum and increase support to developing countries in their fights against climate change.

Bandladesh endorsement team

$205 million for cleaner, more reliable energy in four low income countries

Bangladesh, Mongolia, Rwanda, and Uganda are all celebrating the endorsement of their investment plans under the Scaling Up Renewable Energy in Low Income Countries Program (SREP), a $796 million funding window of the CIF that works to demonstrate the economic, social, and environmental viability of renewable energy in 27 low income countries. Each plan is uniquely focused on the countries’ specific circumstances and builds upon national plans and priorities. 

“Far too many people in the world do not have access to reliable, affordable energy.  This means no heat for their homes and no light for their schools.  SREP funding will help tackle this, offer opportunities for development and improve the enabling environment conditions to unlock and systematically scale-up private investments,” stated Mafalda Duarte, CIF Program Manager.

Building on CIF Achievements

These four countries, as well as other CIF countries and the wider global community, can look to the CIF’s $5.3 billion Clean Technology Fund (CTF) for examples of successful practices on financing low carbon technologies to expand markets for renewable energy, energy efficiency, and clean transport. The 2015 CTF Results Report, launched last week during the CIF meetings, shows that the CTF impact is transformational and global.

In total, the CTF has achieved 20 mtCO2e in emission reductions, equivalent to taking 4.5 million cars off the road or shutting down six coal-fired power plants.
 
The CTF has also attracted over $4 billion in co-financing from government, bilateral sources, and the private sector. While public resources can bridge viability gaps and cover risks that private actors are unable or unwilling to bear, the private sector can bring the financial flows and innovation required for further scaling up. 
 
CTF projects are also contributing to energy savings of over 3,900 GWh per year with most of the projects situated in the Europe and Central Asia region. This is roughly equivalent to taking over half a million passenger vehicles off the road.
 
Geothermal and concentrated solar power (CSP) are growing parts of the CIF portfolio, and CIF investments are expected to lead to more than one-quarter of the current global installed capacity for both technologies.

“When stakeholders see results like this, the risk perception is lowered and the money begins to flow into the clean technology sector. We in the public sector must do our part to attract the private sector and drive investment. We have to be innovative and strategic to get the most out of precious public resources,” explained Mafalda Duarte, CIF Program Manager.

Uganda endorsment team

Operational innovation was at the forefront of discussion during the CTF Trust Fund Committee Meeting last week, which explored options to bridge a looming funding gap and bring new flexibility to the CTF and alternative financing models to increase resource availability.  

“This funding gap threatens some recipient countries’ momentum, but it also presents an opportunity to donors to demonstrate a shared ambition in achieving a low carbon future. The CTF—and the CIF as a whole—is tried, tested and trusted, and delivering results at scale,” stated Duarte.

Although the climate finance landscape has evolved since the CIF was created in 2008, the CIF remains the only climate finance instrument delivering concessional finance at scale with recognized results, and the only one with the infrastructure and experience needed to continue the momentum while other funds ramp up. With 300 projects in the pipeline and many more expected as new investment plans are developed, the CIF is driving transformational change across sectors and technologies at the country and global levels while mobilizing significant co- financing—an expected USD 55 billion—for much-needed investments in mitigation and adaptation.

After seven years on the job, the CIF offers concrete results and useful insights for the next climate-change conference in Paris. Negotiators are expected to arrive at a new global strategy for combating climate change, and CIF experience can serve as a blueprint for future climate financing efforts.

Rwanda endorsement team

 

 

CIF logo
Press Release | Nov 12 2015

FOR IMMEDIATE RELEASE – November 12th 2015

CONTACT: Martin Hall: +1 202 4585540 / mhall3@worldbank.org

Mongolia and the Climate Investment Funds are today celebrating the endorsement of that country’s renewable energy investment plans under the CIF’S dedicated fund for Scaling Up Renewable Energy in Low Income Countries Program. (SREP) 

The SREP funding of $30 million (USD) will be used for projects to support a switch to renewable energy in remote rural areas.

Mongolia’s energy goals include that 20% of increasing power capacity come from renewable sources by 2023 and 30% by 2030.

Senior SREP Coordinator Zhihong Zhang says: “SREP will support the Government of Mongolia to achieve its ambitious target of 20% renewable energy by 2023 and 30% by 2030. 

“SREP investments will benefit particularly people living in the remote rural areas with access of electricity by using indigenous solar and wind resources.  It will also support the Government to strengthen renewable energy regulations and lay the foundation for private sector involvement in the renewable energy sector.”

Mr. Myagmar Angarag, Head of Renewable Energy Division, Mongolia Ministry of Energy, says:

“The SREP Investment Plan will help to increase energy independence of Mongolia.

“The installation of 25 MW RE capacity in the Western Energy System (WES) will improve clean energy access to around 20,000 households, promoting economic development and benefitting SMEs.

“The solar-wind hybrid project in WES potentially triggers Renewable Energy (RE) development in hundreds of megawatts with huge reduction impact on CO2 emissions from coal based power generation.”

About the Climate Investment Funds 

  • The Climate Investment Funds (CIF) is providing 72 developing and middle income countries with urgently needed resources to mitigate and manage the challenges of climate change and reduce their greenhouse gas emissions. The CIF allocates financing through four funding windows:

  • The $796 million Scaling Up Renewable Energy in Low Income Countries Program (SREP) is helping to deploy renewable energy solutions for increased energy access and economic growth in the world’s poorest countries. 

  • The $5.3 billion Clean Technology Fund (CTF) provides middle-income countries with highly concessional resources to scale up the demonstration, deployment, and transfer of low carbon technologies in renewable energy, energy efficiency, and sustainable transport.

  • The $785 million Forest Investment Program (FIP) supports efforts of developing countries to reduce deforestation and forest degradation and promote sustainable forest management that leads to emissions’ reductions and enhancement of forest carbon stocks (REDD +).

  • The $1.2 billion Pilot Program for Climate Resilience (PPCR) is helping developing countries integrate climate resilience into development planning and offers additional funding to support public and private sector investments for implementation.

    About Zhihong Zhang

    Zhihong Zhang is Senior Program Coordinator at the Climate Investment Funds Administrative Unit, overseeing the Clean Technology Fund and the Program for Scaling up Renewable Energy in Low Income Countries.  

AFDB logo
Press Release | Nov 11 2015

At its governing body meetings this week, the Climate Investment Funds (CIF) endorsed Uganda’s far-reaching Investment Plan (IP) to transform its energy sector by building on its renewables resources including wind, solar, and geothermal, and expanding the spread of sustainable energy throughout the country.

Press Release | Nov 11 2015

At its governing body meetings this week, the Climate Investment Funds (CIF) endorsed Rwanda’s Investment Plan (IP) to significantly develop much-needed off-grid electricity access for households, productive uses, schools, health centres and institutions throughout the country, particularly in rural areas.

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