The ECOWAS Regional Centre for Renewable Energy and Energy Efficiency (ECREEE) is starting an ECOWAS Renewable Energy Investment and Business Initiative (EREI) and the first milestone is the organization with its finance partners, of an Investment and Business Forum for Renewable Energy Projects in the ECOWAS region. This Forum is part of an effort to fulfill the ECREEE’s mandate to attract investments on Renewable Energies (RE) laid out in the ECOWAS White Paper on improving access to energy services for population in the region, with a focus on rural and peri-urban areas.Notwithstanding the abundant RE resources within the ECOWAS region, it is generally acknowledged that without major investments in sustainable energy frameworks and infrastructure in West Africa, the region energy access, energy security and climate objectives cannot be achieved simultaneously in the forthcoming decades. Major investments are required to enhance the development of renewable energy markets in the ECOWAS region.The mid-term objectives of the EREI are:
- To foster and endorse investment to promote RE infrastructure projects in West Africa
- To facilitate the execution of RE investment projects in the region;
- To link up different stakeholders involved in the finance and development of RE infrastructure projects in West Africa
- To decrease the misperceptions on investment of RE projects in West Africa through the appraisal from ECREEE, an specialized agency of the ECOWAS Regional Government
- To create a link between project promoters and financial partners and potential investors of these infrastructure projects
- To become a meeting point for stakeholders interested by the RE sector of West Africa
- To finance preparatory and feasibility activities of RE Infrastructure Projects in the region
- To show the RE power sector in West Africa more attractive for Direct Foreign Investment (DFI)
- To provide reliable and updated information about existing and identified RE projects in the region
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