| PRESS RELEASE
REEEP To Make €1 Million Available for Renewable and Energy Efficient Projects Next funding round to target finance, policy and regulation projects London – November 2004 The Renewable Energy and Energy Efficiency Partnership (REEEP) is to make €1 million available to fund renewable energy projects internationally. REEEP, established by the UK government in 2002 to drive the integration of renewable and energy efficient systems (REES) into national and global energy policy, is seeking project proposals for its third funding round, for the period 1 April 2005 to 31 March 2006. REEEP’s priority for this funding round will be projects that 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 and off-grid generation, it is vital to leverage the limited resources available, and encourage policy and regulation that overcome market barriers or the perception of risk in new energy markets. Announcing the new funding round, Dr. Marianne Osterkorn, REEEP International Director, said: “REEEP currently funds over 40 REES projects worldwide. Although many are modest in scale, we ensure that all provide a blueprint for project finance and regulatory change that can be localised and replicated elsewhere. 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.” The total volume of this projects call is
around €1 million and will be available
from
1 April 2005. REEEP expects to
fund
about 15 projects with an average REEEP
contribution
of €70,000. The funds have been
made
available by the UK Government (FCO
Global
Opportunities Fund Climate Change and
Energy
Programme). |