Financing Mechanisms

News

Senegal efforts to have a tariff for renewable energy autoproducers close to bear fruit

The Regulation Commission for the Electricity Sector in Senegal (Commission de Régulation du Secteur de l'Electricité - CRSE), published by end of May 2018 in its website, the document for public consultation relating to the determination of the purchase price of surplus renewable energy produced by self-consumption. The public consultation period ends by end of July 2018. CRSE will organize a national workshop in August 2018 to officially present the concept of the document and address the comments received during the public consultation period.

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Sustainable Energy Investment Workshop in Guinea Bissau

The Workshop in Sustainable Energy investment in Guinea Bissau will be held in Lisbon (Portugal) on the 4th of May 2018. Organized by ALER and UNIDO, ECREEE and the Ministry of Energy and Industry of the West African country, the event also counts with the support of GEF (Global Environmental Facility). Included in the 2018 Forum of SEforALL, the workshop is organized under the framework o the project "Promoting Investments in small and medium Renewable Energy Technologies in the electricity sector in Guinea Bissau", which aims to promote the south-south cooperation between Guinea Bissau and other lusophone countries, as well as execute the SDG-7 objective under the SEforALL program for the ECOWAS country.

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First Call of ElectriFI launched- Electrification Financing Initiative of the European Union

The Electrification Financing Initiative of the European Union, ElectriFI opened its doors on 15 April 2016 and interested parties can submit their project proposals through www.electrifi.org until 6 May. ElectriFI is an innovative mechanism to unlock, accelerate and leverage investments providing access to affordable, reliable, sustainable and modern energy.

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Texas utility secures rock-bottom price for solar

Austin Energy in Texas is set to sign a deal expected to result in one of the lowest-priced solar power arrangements in the world. Under the unprecedented agreement between Austin Energy and SunEdison, the utility will buy solar power for less than $0.05 per kilowatt hour.

The Austin American-Statesman, the utility. owned by the city of Austin, has approved an agreement with SunEdison to buy electricity from two solar farms in West Texas at a price of just below $0.05 per kilowatt hour – considerably lower than the standard price for solar energy and less than a third of the price Austin Energy agreed to pay in 2009 for electricity from a smaller solar installation east of the city.

The Austin American-Statesman cited Jurgen Weiss, an energy economist with the Brattle Group, who added, "It is certainly at the very low end of the prices I have seen. As many had predicted, we’re entering a time in which, with some caveats, solar presents quite an attractive alternative to conventional sources."

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Gambia: Bill to promote renewable energy approved

A Bill that seeks to establish the legal, economic and institutional basis to promote the use of renewable energy resources was unanimously approved on December 12, 2013, by The Gambia's 53-member unicameral National Assembly during the fourth meeting of the 2013 Legislative year.

The Gambia currently depends heavily on the use of wood and charcoal and fossil fuel to meet its energy requirements. Electricity generation in the country is mainly dependent on imported fossil fuel (heavy fuel oil and diesel), which is the most expensive mode of electricity generation. On the contrary, the West African country has a lot of renewable energy resources such as the sun, wind and bio-energy, which if properly harnessed and effectively utilised would help increase the access rate to modern energy, which is a more sustainable and environmentally-friendly source of fossil fuel.

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Gambia Energy Sector Gets U.S.$31.9 Million Grant

The government of The Gambia and the Economic Community of West African States (ECOWAS) signed a US$31.9M grant agreement, earmarked for the former's energy sector. Reached at the Golf Hotel in Abidjan on the sidelines of the 71st Ordinary Session of the Council of Ministers of ECOWAS, the grant is provided by the ECOWAS Emergency Regional Programme for Improved Electricity Supply Facility (EERPIEF).

The other two countries that benefited from the grant are the Republics of Mali and Sierra Leone, which respectively received US$54.34M and US$21.8M. The project seeks to improve electricity supply within these three countries in the sub-region.

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Liberia approved as SREP pilot country

Liberia might soon benefit from up to USD 50 Million to support the development and deployment of RE technologies. On January 2013, the country has been approved as the eighth SREP pilot country by the SREP sub-committee.

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Document

From Vision to Coordinated Action - Consolidation of SE4ALL Action Agendas, National Renewable Energy Action Plans, and National Energy Efficiency Action Plans of the ECOWAS region countries

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Development of Wind Energy in Africa - Working paper series

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Derisking RE Investment. A Framework to Support Policymakers in Selecting Public Instruments to Promote RE Investment in Developing Countries

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CDM in Africa: Finance and support

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Ghana Shared growth and development agenda (2010-2013) Vol 2 Costing and financing of policies and strategies

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SREP MALI - INVESTMENT PLAN Vol 1

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Stakeholder

VALDAS & COMPANY LTD

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AF-Mercados EMI

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IFC - International Finance Corporation

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AFC - Africa Finance Corporation

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Finnfund - Finnish Fund for Industrial Cooperation Ltd.

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Standard Bank

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Project

VRA Solar Power Projects

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