Category Archives: Europe

Expanding Matchmaking Platform for Sustainable Energy Financing

IRENA’s Sustainable Energy Marketplace expands to global coverage

Driven by investments in developed and emerging economies, the last decade has seen global investments in sustainable energy increase more than five-fold. Emerging and developing country markets still have enormous growth potential, but to tap into those opportunities, project owners and investors in the fields of renewable energy and energy efficiency need a simple way to connect — enter the Sustainable Energy Marketplace.

A virtual platform developed by IRENA, the Marketplace highlights promising low-carbon energy projects in developing countries and helps developers, financiers and service and technology providers connect to bring projects to fruition.

To capitalise on the Marketplace’s successful first two-years of operation in Africa, Latin America and the Caribbean, and upon requests from IRENA Members, IRENA is now expanding the Marketplace platform to cover all developing and emerging markets — including Asia, Southeast Europe and Small Island Developing States (SIDS).

A single integrated platform

The expanded Marketplace unveils new user functionality and an upgraded interface that improves the user experience and facilitates interaction between the different stakeholders to advance projects. Users registered on the platform can now view all available projects, financing instruments, and services and technologies from all regions through a single integrated portal.

The Marketplace features regional hubs where users can access relevant information relevant to investment in a specific region, including basic data and updates; country-level information on policies and regulations, projects and financing instruments; and the latest news, events, calls for proposals, reports. The Marketplace also provides access to IRENA project facilitation tools and tools and information developed by partners.

More than a marketplace

New features in the Marketplace allow stakeholders to join efforts in the development of renewable energy projects by sharing project pipelines, encouraging joint financing, sharing information and relying on the active support of the platform to the project developers.

Through the platform, IRENA conducts project assessments — providing a better understanding on the needs of projects. This is then the basis for matchmaking, link projects and financing institutions, as well as other relevant stakeholders depending on the specific needs of a project.

To access the online platform, market players — including project owners, financiers and service/technology providers — are required to create a profile. In addition, project owners and investors must add at least one project or instrument, respectively, to complete the registration process. Approved users can:

  • Efficiently search for information of interest. Filtering, for example, by the specific criteria of investors, financing source or advisor, or according to a project’s needs.
  • Easily find more information about relevant entities, projects, or financing instruments, with the ability to contact them.
  • Communicate directly with IRENA on specific needs and interests.
  • Access project development tools and data on markets, regulations and incentives.

Visit IRENA’s Sustainable Energy Marketplace to learn more about the platform and to register.

IRENA and State Grid Corporation of China Team-Up to Expand Regional Renewable Capacities

Technical experts from SGCC to support IRENA’s activities in Africa, Central America and Southeast Asia

A new agreement signed today between IRENA and the State Grid Corporation of China (SGCC) at the UN Climate Change Conference (COP23) in Bonn, Germany will see technical expertise from the world’s largest utility support the Agency work on integrating more renewables into grid systems.

Efforts undertaken by the state-owned enterprise over the past decade have sought to improve its ability to accommodate higher shares of variable renewable energy sources, and this partnership will enable IRENA to leverage the established knowledge of the SGCC for the benefit of developing countries.

China is the world leader in installed renewable energy capacity, having in 2016 added almost half of all new solar capacity worldwide, and also the largest provider of renewable energy jobs, with the latest figures showing 3.64 million people are working in the Chinese renewables sector. The country’s knowledge in grid integration can be useful for other countries undertaking ambitious plans to scale-up the share of renewables in the power mix, particularly in Africa, Central America and South East Asia.

Under the agreement, technical experts from SGCC will be seconded to IRENA for one year. The experts will work closely with IRENA’s programmatic teams, particularly on IRENA’s Clean Energy Corridor initiatives in Africa, Central America and Southeast Asia, and capacity building activities related to integrating renewables into electricity systems.

The agreement follows a memorandum of understanding (MOU) signed between the organisationsin June to increase the integration of high shares of wind and solar, grid integration, interconnection and smart grids. The MOU also strengthens cooperation related to IRENA’s Clean Energy Corridor initiatives.

A Renewable Future Lecture Series in Bonn

New lecture series highlights the political, technological, financial, socio-economic, commercial, and regional opportunities and challenges for a future powered by renewables.

Starting this autumn and continuing into 2018, IRENA and the “Sustainable Development in International Cooperation” coordination unit of the University of Bonn have organised a lecture series that will analyse and discuss the political, technological, financial, socioeconomic, commercial and regional opportunities and challenges of a renewable energy powered future. Continue reading A Renewable Future Lecture Series in Bonn

Europe Showcases Renewable Energy Progress at EU Sustainable Energy Week

EU Sustainable Energy Week gathers leaders from across renewable energy landscape

Key players throughout Europe have emerged as leaders in the ongoing global energy transition. But the work to address the challenge of climate change and accelerate the use of renewable energy is not just being carried out by national governments, it is also by ordinary people, entrepreneurs, local authorities, businesses, NGOs and European institutions. One of those European institutions, the European Commission, recently convened the European Union Sustainable Energy Week (EUSEW) in Brussels, Belgium, where IRENA participated as a strategic partner throughout the event. Continue reading Europe Showcases Renewable Energy Progress at EU Sustainable Energy Week

New Initiative to Boost Solar Energy Development

Today at InterSolar Europe in Munich, leaders in energy, finance and law met to scale up solar energy under a new initiative. The Solar Energy Standardisation Initiative, led by IRENA and the Terrawatt Initiative, aims to spur global solar development by standardising contracts to streamline the development and finance of solar projects.

Country commitments submitted under the Paris Agreement entail roughly $1.2 trillion in solar energy investment by 2030. To reach this target, governments must implement efficient regulatory schemes that enable massive development of solar projects – with minimal risk – and allow private investors to enter the market at scale. There is also a need to reduce transaction costs so solar power can penetrate more markets across the globe. Continue reading New Initiative to Boost Solar Energy Development