Development Account Projects
Innovative financing mechanisms for new and renewable energy projects
The North African region is characterized by the coexistence of oil and gas producing and non-producing countries. Given the continuous increase in oil prices, importing countries could benefit from the use of new and renewable energies. Furthermore, all countries need to face the challenges of environment protection. Efforts to develop forward looking energy policies must, in this context, contribute to the reduction of green house effects due to gas emissions resulting from the use of oil.
These national policies, supported by legislation, norms and rules can also contribute to prepare these countries to better face the scarcity and eventually the absence of oil resources in the medium and long terms. However, there are differences between countries in terms of know-how and stocks of renewable energies. For each country, the potential energies need to be defined according to financial, economic, social and environmental criteria.
The project will explore mechanisms for disseminating such experiences in North Africa based on a comparative study of the feasibility of these technical and financial mechanisms for each country and each type of renewable energy. Particular emphasis will be placed on the development of information networks so as to share lessons learned and enhance peer learning.
This project aims to encourage North African countries to increase the use of new and renewable energies. The project is implemented in a context of increasing oil prices and growing concerns on climate change. Particular emphasis will be placed on the development of information networks so as to share lessons learned and enhance peer learning.
More specifically the project plans to carry studies and organize expert group meetings aiming at more awareness on new and renewable energies, development and promotion of innovative financing mechanisms for new and renewable energy projects and improved regional cooperation and information sharing on new and renewable energies. Public Private Partnerships are expected to play an important role in the design of such projects.
Improved awareness of new and renewable energies and integration of related activities into national development plans.
Development and promotion of innovative financing mechanisms for new and renewable energy projects, including better knowledge of the different types of public-private partnership mechanisms, so that recommended actions can be implemented in a timely manner by North African States.
Strengthened and sustained capacity of the region in terms of new and renewable energy and their financing mechanisms to enable States to plan, implement and assess the impact of the use of new and renewable energies
Improved regional cooperation and information-sharing on new and renewable energies in order to harmonize policies and the choice of technical solutions and recommend measures to extend the project to other parts of the continent
Project implementation commenced in 2011.