BWI: REEEP Holds Talks to Scale Up Renewable Energy and Energy Efficiency in South Asia

Press release from Business Wire India
Source: The Energy and Resources Institute (TERI)
Wednesday, February 04, 2009 12:02 PM IST (06:32 AM GMT)
Editors: General: Consumer interest, Economy, Environment, People, Politics, Social issues; Business: Business services, Energy companies; Technology
Release no: 19140
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REEEP Holds Talks to Scale Up Renewable Energy and Energy Efficiency in South Asia


New Delhi, Delhi, India, Wednesday, February 04, 2009 -- (Business Wire India) -- The Renewable Energy and Efficiency Partnership (REEEP) discussed 'Scaling up renewable energy and energy efficiency in South Asia: Focus on financing, investment and technology' to address and stimulate the use of renewable sources of energy that are abundant in South Asia. The growing demand of energy can be met through its efficient use and the panel brainstormed on expanding profitable renewable energy and energy efficiency business opportunities in South Asia. Present on the occasion were, Mr Creon Butler, Minister and Deputy High Commissioner, British High Commission, New Delhi, Ms Gauri Singh, Joint Secretary, MNRE (Ministry of New and Renewable Energy), Govt. of India, Dr Marianne Osterkorn, Director, REEEP International Secretariat and Dr. Ligia Noronha, Coordinator, REEEP SA.

Addressing the esteemed audience, Ms Gauri Singh, Joint Secretary, MNRE said, "We are at crossroads, where energy trends are not sustainable. MNRE is currently looking at energy security but we do know that renewable energy is an important mitigation factor. The government has to come up with innovative policies to drive investments as the energy sector is largely a private sector domain. The Ministry is playing an advocacy role within the government to stimulate debate and gain attention towards the renewable energy sector. Presently, wind energy is a major renewable energy source in India and policy framework is required to drive investments in this sector. However, we realise that a huge potential lies in harnessing solar energy and we should start building a base in manufacturing areas. There is a huge market for solar thermal and solar PV (photovoltaic). Our focus is to facilitate investments in wind and solar energy sectors. We are ready for next generation policy framework that will be based on higher generation and energy efficiency."

Every year REEEP announces a call for project proposals that support the development of markets for renewable energy and energy efficiency and engage government and financing institutions in its effort to improve the uptake of RE (Renewable Energy) and EE (Energy Efficiency) technologies. The 7th Call for Proposals for regular projects for REEEP closed on November 2008. This year the programme cycle has been the largest in REEEP's history and will support 43 new projects in the priority areas of policy & regulation and business & finance. The 7th programme cycle is financed through generous contributions from the governments of United Kingdom, Norway, Australia, Ireland and Italy. The South Asia secretariat received 90 proposals and 17 out of those have been invited to develop and submit full proposals.

Speaking on the efforts of REEP, Mr Creon Butler, Minister and Deputy High Commissioner, British High Commission said, "We are facing very different circumstances in the economy today. Rise in commodity and oil prices, widening impact of economic crises and fighting climate change has made REEEP relevant today. Three points will help REEEP to grow and expand: a) to reduce volatility in energy prices, government policies can help to promote renewable energy and observe private sector mechanism, b) designing new financial markets to drive renewable energy and energy efficiency and c) opportunities provided through government action on energy and energy efficiency by increasing public sector spending."

The panel discussion involved players from the public and private domain and initiate discussions with investors, developers, financiers, private firms, policy makers, end users, and development agencies to show that renewable energy and energy efficiency business opportunities exist in South Asia and similar developing economies.

The main Objectives of this forum were:

-- Increase investor and financer awareness of the significant market opportunities for renewable and energy efficiency investments in South Asia

-- Enhance corporate understanding of investor issues and options

-- Identify investment players and prospective partners

-- Catalyze information exchange between the various players

-- Share successful business and financing model structures of projects in the region

-- Feature sound, bankable RE and EE project opportunities

About REEEP:

REEEP is an Austrian legal entity with the status of an International NGO. The partnership was conceived at the World Summit on Sustainable Development in August 2002. The International Secretariat is based in Vienna, within the offices of the United Nations Industrial Development Programme (UNIDO).

Backed by national governments, businesses, development banks and NGOs, REEEP is uniquely placed to contribute to international, national and regional policy dialogues. In accelerating the integration of renewables into the energy mix, and advocating energy efficiency improves a nation's energy security, whilst reducing carbon and greenhouse gas emission, and ensuring further socio-economic benefits by increasing the energy security, and reducing the energy poverty of a country. The partnership (Australia, Austria, Canada, Germany, Ireland, Italy, Spain, The Netherlands, New Zealand, Norway, The United Kingdom, The United States and the European Commission) has funded more than eighty projects in forty countries that remove market barriers to clean energy in the developing world and economies in transition. These projects are beginning to deliver new business models, policy recommendations, risk mitigation instruments and regulatory measures.


CONTACT DETAILS
Ms. Sonya Fernandes, The Energy and Resources Institute (TERI), +91 (11) 24682100, Extn - 2367, sonya@teri.res.in

KEYWORDS
CONSUMER, ECONOMY, ENVIRONMENT, PEOPLE, POLITICS, SOCIAL, BUSINESS SERVICES, ENERGY, TECHNOLOGY

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