Category Archives: Oceania

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.

Solar Supports Village Livelihoods and Spurs Business in Fiji

Reliable solar-powered refrigerators are creating economic opportunities for remote, rural towns

In Wainika, a remote village north of Vanua Lavu, Fiji’s second largest island, villagers depend on fishing for their livelihoods. However, the nearest market to trade fish is a laborious two-hour drive and a 45-minute boat ride away. Keeping their fish fresh, without refrigeration, during this journey used to be impossible for Wainika’s villagers, until a renewable-powered solution presented itself.

The installation of a standalone hybrid solar photovoltaic (PV) refrigeration system has drastically changed the economic prospects of the village. Installed at the village community hall, the system enables villagers to chill their fish in preparation for the journey to the market, and helps power lighting and phone charging outlets.  A backup diesel generator ensures the operation of the freezers during long cloudy periods. Continue reading Solar Supports Village Livelihoods and Spurs Business in Fiji

Ministers: ‘IRENA/ADFD Plays Key Role Advancing Renewables in Developing Countries’

At IRENA’s seventh Assembly, held in Abu Dhabi in January 2017, renewable energy projects from the Marshall Islands, Niger, Seychelles and the Solomon Islands were selected to receive a total of USD 44.5 million in funding through the IRENA/ADFD Project Facility. The Facility is a unique partnership between the International Renewable Energy Agency (IRENA) and the Abu Dhabi Fund for Development (ADFD), set up to identify and partially finance promising renewable energy projects in developing countries.

At the Assembly, energy ministers from the four selected countries explained how this partnership will bring about a positive change in their respective countries.  Continue reading Ministers: ‘IRENA/ADFD Plays Key Role Advancing Renewables in Developing Countries’

Finding a Way to Transform Energy on Islands

Small Island Developing States (SIDS) are on the frontlines of global climate change. Dependent on the ocean for their livelihoods, yet threatened by its rising and acidifying waters, this assemblage of the world’s lowest lying countries are some of the most outspoken and driven countries for decarbonisation and renewable energy.

Matching ambition with reality, however, is not simple, and SIDS need international support to accomplish their decarbonisation goals. But what does that support look like? What is needed to identify the best pathways for SIDS to achieve a renewable energy future and to establish the necessary frameworks for accessing financial support at the speed and scale required to transform their energy systems? Continue reading Finding a Way to Transform Energy on Islands

Renewables Can Supply Nearly 100% of Samoa’s Electricity Needs

Like many island nations, Samoa possesses enough renewable energy potential to meet nearly 100% of its electricity demand in a sustainable, affordable way. According to a new study conducted by IRENA, a combination of hydro, solar and wind power can supply up to 93% of the island’s electricity demand if a few measures are incorporated into the existing power system and if water supply remains steady.

More than 20% of Samoa’s power needs are met with renewables. The rest is met with imported diesel fuels, which have a negative effect on domestic energy security and energy prices. IRENA’s study finds that a significant increase in renewable energy capacity is possible – including 14 megawatts (MW) of solar PV and an additional 5 MW of hydro – and can reduce the island nation’s dependence on costly fossil fuels, while helping achieve the government target of 100% renewables by 2017. If an additional 8 megawatts (MW) of biogas projects are implemented, then 100% renewable energy electricity would be achieved. Continue reading Renewables Can Supply Nearly 100% of Samoa’s Electricity Needs