UK announces funding round for global energy projects
Funding for international renewable energy projects worth €1 million has been made available by the Renewable Energy and Energy Efficiency Partnership (REEEP).For the organisation's third funding round, covering the period 1 April 2005 to 31 March 2006, it is seeking project proposals that will drive the integration of renewable and energy efficient systems (REES) into both national and global energy policy.
A priority requirement for this round is for all projects put forward to either use innovative financing mechanisms to catalyse the uptake of REES, or contribute to a supportive regulative and legal environment.
Due to the specific structure of REES projects, which often focus on small scale, off-grid generation, it is vital to leverage the limited resources available, while encouraging policy and regulation that overcome market barriers, as well as the reputation that new energy markets have for being a bit risky.
"REEEP currently funds over 40 REEs projects worldwide. But although we are modest in scale, we ensure that all projects provide a blueprint for project finance and regulatory change that can be localised and replicated elsewhere," said Marianne Osterkorn, the international director of REEEP.
"We will be using the next funding round to leverage further the capability and potential of renewable energy, and to build on our existing project record."
She added that REEEP expected to fund about 15 projects in the next round, with an average contribution of €70,000.
Funds have been made available by the UK Government as part of the Global Opportunities Fund Climate Change and Energy programme.
By Jane Kettle