CIF Calls for Private Sector SREP, PPCR Project Concept Proposals
20 February 2014: The Climate Investment Funds (CIF) has issued an open call for innovative private sector project concept proposals for the Scaling-up Renewable Energy in Low Income Countries Program (SREP) and the Pilot Program for Climate Resilience (PPCR). This is the second open call for project concepts; the first, in 2013, resulted in 15 project concepts, totaling over US$135 million.
CIF underscores the critical role of private sector participation and financing. While progress has been made in encouraging private sector investment in energy efficiency and clean technologies, CIF stresses that more progress could be made in engaging and encouraging private sector investments in: integrating climate resilience into national development strategies and actions; and stimulating energy access and economic growth by adopting renewable energy.
Under the PPCR, over US$29 million in concessional funds have been set aside for programmes and projects that engage the private sector in reducing countries' exposure to climate risk and uncertainty. For PPCR funding, project concept proposals must be submitted by one of the multilateral development banks (MDBs) on behalf of the potential project proponent by 30 April, with funding decisions to be made in June 2014. The following will be considered when reviewing PPCR proposals: degree to which the PPCR's investment criteria are met; level of innovation; readiness; benefits to vulnerable groups; and sustainability of results.
Under the SREP, approximately US$36 million in concessional funds have been set aside for programmes and projects related to piloting and demonstrating the economic, social and environmental viability of low-carbon development pathways in the energy sector through creating economic opportunities and increasing energy access through renewable energy use. Proposals must be submitted by 31 March, with decisions to be made in May 2014. The following will be considered when reviewing SREP proposals: level of innovation; projected leverage ratio; increased supply of renewable energy or increased access to modern energy services; readiness; and commercial sustainability. [CIF Open Call Webpage] [PPCR Access to Funding Webpage] [SREP Access to Funding Webpage] [AfDB Press Release]