4th Growth and Resilience Dialogue with Social Partners Presentation

Scaling up renewable energy and energy efficiency can be achieved through a shared legal, regulatory, normative framework and implementation of sustainable financing mechanisms.

ASPIRE Program in Maldives

Scaling Solar program

Financing mechanisms for Energy Efficiency

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Series of IDA Guarantees combined with grants to attract private sector into new RE For 20 MW, estimated savings of US$28- 84 million (depending on diesel price) and US$42 million of private investments mobilized Technical assistance to create enabling framework and develop pipeline Security package incl. IDA Guarantees to backstop (i) payment delays under PPAs; and (ii) termination caused by GoM Phased approach to expand on multiple islands. Design of competitive tender process

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Scale up and accelerate investment in utility-scale solar generation World Bank Group one-stop shop for preparation, tendering and financing

• Utility demand side management programs

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Utility consumer financing programs

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• Dedicated credit lines for EE projects

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Benefits to countries and developer/investors

• ESCOs: Leveraging of commercial financing through performance contracting

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Reduced development time and costs

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• Revolving EE funds

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Market creation

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• For residential, commercial, industrial consumers

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Leverage

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India: 750MW PPP, US$5.5c/kWh

• For public buildings, street lighting, utilities

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Senegal: 60MW, US$4c/kWh

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Replicating models that allow scaling up of resources

• Pooling of resources: Caribbean Catastrophe Risk Insurance Facility • Revolving funds to support both renewable energy and energy efficiency • Offer of instruments and products to serve public and private users