Financing Energy Efficiency and Renewable Energy through the India Renewable Energy Development Agency

Size: px
Start display at page:

Download "Financing Energy Efficiency and Renewable Energy through the India Renewable Energy Development Agency"

Transcription

1 RENEWABLE ENERGY INDUSTRIAL ENERGY EFFICIENCY BUILDING ENERGY EFFICIENCY Financing Energy Efficiency and Renewable Energy through the India Renewable Energy Development Agency

2 A RANGE OF FINANCIAL SUPPORT PROGRAMS Government financial company helps India overcome barriers to finance Renewable energy has the potential to help India increase the capacity and reliability of power generation to meet the development needs of its people. In 2010, 25 percent of the population did not have access to electricity and the country experienced an energy shortage amounting to 8.5 percent of its total energy supply. 1 India s installed electricity capacity is expected to grow by 16 percent, or 80,000 MW, from 2012 to Further, due to India s dependence on coal-fired power, the power sector emits 4 percent of total global greenhouse gas emissions; and from 2002 to 2010, power sector emissions increased by 75 percent reaching 749 million metric tons of carbon dioxide per year. 3,4 To address this growth in greenhouse gas emissions, India s National Action Plan on Climate Change sets a target of attaining 15 percent of renewable energy generation by 2020 relative to 2008 output. The plan incorporates a major initiative, the National Solar Mission, which aims to establish India as a global leader in the solar energy market and make solar cost-competitive with other fossil-based options. The government has introduced a number of programs to stimulate and speed investments in renewable energy and energy efficiency to meet electricity demand and renewable energy targets. These include a suite of regulatory policies such as feed-in tariffs, renewable purchase obligations, a biofuel obligation and a Renewable Energy Certificate (REC) scheme launched in Even with renewable energy policies in place, a number of financial barriers exist. These include: limited access to capital, high cost of capital, lack of familiarity in financing renewable energy and energy efficiency projects, and loan mismatches for projects that require longer loan maturities relative to those available from commercial banks. To address these barriers, India has adopted a number of financial incentive programs including capital subsidies, tax credits and public financing. 5 The government s primary vehicle for delivering public financing for renewable generation and energy efficiency is the India Renewable Energy Development Agency Ltd. (IREDA). PUBLIC FINANCING SCHEMES In 1987, IREDA was established as a Public Limited Government Company. It is administered by the Ministry of New and Renewable Energy to provide financing schemes to project developers and is partly funded by the national government. 1

3 IREDA also receives financial and technical support from the German development bank (KfW), French development bank (AFD), Nordic Investment Bank (NIB), European Investment Bank (EIB), Japan International Cooperation Agency (JICA), World Bank, Asian Development Bank, and other international financial institutions, agencies and investors. From 2006 to 2010, IREDA s total funding grew by 70 percent from approximately USD 391 to USD 665 million. In 2010, IREDA received approximately USD 257 million (40 percent of its financial resource base) from international lenders, as grants, loans, and credit lines. 6 (Figure 1). Figure 1: Breakdown of IREDA s Sources % 21% 46% 8% 28% 16% 16% TOTAL: USD 391 million 40% EQUITY CAPITAL RESERVES AND SURPLUS INTERNATIONAL ASSISTANCE DOMESTIC BORROWINGS TOTAL: USD 665 million Source: Indian Renewable Energy Development Agency. Eligible sectors for funding from IREDA include small hydro power; medium to large hydro projects above 25 MW, wind energy, bio-energy, solar energy, energy efficiency and energy conservation, biofuel and alternative fuels, and new and emerging technologies. The minimum loan amount is USD 90, In addition, IREDA provides finance for electrification of remote villages using an energy service companies (ESCO) model, and administers subsidies on behalf of other government programs. 8 IREDA also finances end user energy efficiency retrofit projects, utility demand-side management projects, projects promoted by ESCOs and power plants based on recovery of energy from exhaust gases. Under IREDA, eligible renewable energy and energy efficiency project developers have access to a number of financial programs described below, as well as technical assistance. 9 Concessional loans: Project developers are eligible for loans up to 70 percent of the project costs or energy efficient equipment. Projects implemented through an ESCO are eligible for an percent interest rate with a 10 year maturity, or a percent interest rate with an 8 year maturity. Interest rate rebates: Renewable energy project developers are eligible for up to a 0.5 to 1 percent reduction in the set interest rate. The rate varies depending on the regional locale of the project. Developers are also eligible for an additional interest rate rebate of 0.5 percent for timely payment of loan interest and principal. 2

4 Financial assistance: Renewable energy project developers are eligible for a 50 percent discount on the initial costs of project implementation, including: processing, inspection, legal, and front-end fees related to renewable energy installations. Credit lines for commercial banks: IREDA extends a line of credit to eligible financial intermediaries to lend and/or lease energy-saving equipment for a minimum of USD 46,000 and maximum of USD 184,000 with a 10 percent interest rate and 10 year payback period. Tax benefits: Developers are eligible for up to 100 percent tax deduction for the recovery of depreciated property in the first year of the project on specified equipment. They are also exempt from import and excise taxes on energy efficiency and renewable energy technology. Some state governments provide financial assistance for conducting energy audits and provide tax exemptions for power generation projects. 10 Figure 2: Investment in Renewable Energy in India by Sector, ,000 Total Investment (USD Millions) 6,000 5,000 4,000 3,000 2,000 5,900 4,700 1, WIND SOLAR BIOMASS SMALL HYDRO MARINE BIOFUELS Sectors Source: Frankfurt School of Finance and Management. A RENEWABLE ENERGY SURGE Under current national plans, India s renewable generation was projected to increase by 180 percent to 21,761 megawatts (MW) by 2012, and by 820 percent to 71,461 MW by 2022, relative to 2007 capacity. As of December 2011, the total installed renewable capacity was 20,162 MW (about 4 percent of total installed electric generating capacity). 11 IREDA has made a significant contribution toward the surge of new renewable generation in India. In 2010, IREDA s financing led to the commissioning of 270 MW of new renewable generation, and its loan approvals in that year will lead to new renewable generation capacity of 800 MW. The commissioned plants will generate annual saving of 0.23 million tons of oil equivalent and emission reductions of 0.80 million tons of carbon dioxide. 12 As of March 2011, IREDA s cumulative achievements included: 13 The approval of 1,941 projects with a power capacity of 4,280 MW and commissioned capacity of 1,977 MW Loan approvals amounting to USD 3.4 billion Loan disbursements of USD 1.7 billion Conventional fuel replacement equivalent to 1.3 million tons of coal per year 3

5 IREDA s finance mechanisms are only one contributor driving new renewable generation in India. In 2011, India s total renewable energy investment increased 62 percent in a single year, reaching USD 12.3 billion. 14 In just four years, from 2006 to 2010 the IREDA finance mechanisms led to an increase of domestic lending from commercial banks by 120 percent and an increase of international assistance by 50 percent. The breakdown of investment in 2011 by sector is provided in Figure 2. Additionally, the renewable energy market expansion can be attributed to mandatory renewable energy targets (renewable portfolio standards), favorable grid access policies (fair terms to buy, sell and transmit power, access to transmission resources), and education of energy regulators, utilities and banks. 15 Continuing this type of integrated approach for policy development and financial incentives from both the public and private sectors will be required to achieve India s longer-term objectives for increased renewable generation. REFERENCES IREDA website: <http://www.ireda.gov.in/> Indian Renewable Energy Development Agency IREDA Annual Report Web. December <http://www. ireda.gov.in/pdf/annual_report eng.pdf > 4

6 ENDNOTES Note: Currencies were converted to US dollars on December 14, 2012 at the exchange rate of 1 USD = 54.3 Rupees. 1 REN Renewables 2012 Global Status Report. Web. December <http://www.map.ren21.net/gsr/gsr2012. pdf> 2 Indian Renewable Energy Development Agency IREDA Annual Report Web. December <http://www. ireda.gov.in/pdf/annual_report eng.pdf > 3 US National Renewable Energy Laboratory Indian Renewable Energy Status Report. Web. December <http://www.nrel.gov/docs/fy11osti/48948.pdf> 4 Government of India Central Electricity Authority National Electricity Plan (Volume 1): Generation. Web. December <http://www.cea.nic.in/reports/ powersystems/nep2012/generation_12.pdf> 5 REN21, 2012, op cit. 6 Indian Renewable Energy Development Agency, 2011, op cit. (endnote #2) 7 Indian Renewable Energy Development Agency Financing Norms and Schemes. Web. December <http://www.ireda.gov.in/pdf/financing%20norms.pdf> 8 U.S. National Renewable Energy Laboratory Indian Renewable Energy Status Report. Web. December <http://www.nrel.gov/docs/fy11osti/48948.pdf > 9 Industrial Efficiency Policy Database. IN-4: Financing Schemes of IREDA. Web. December <http://iepd. iipnetwork.org/policy/financing-schemes-ireda> 10 Indian Renewable Energy Development Agency Energy Efficiency and Conservation. Web. December <http://www.ireda.gov.in/homepage1.asp?parent_ category=2&sub_category=26&category=141> 11 Indian Renewable Energy Development Agency. 2011, op cit. (endnote #2) 12 Indian Renewable Energy Development Agency. 2011, op cit. (endnote #2) 13 Popli, K.S. Development and Financing of Renewable Energy Projects in India: A Perspective. Web. April <http:// ssef3.apricum-group.com/wp-content/uploads/2011/04/3- IREDA-Popli pdf> 14 Frankfurt School of Finance & Management. Global Trends in Renewable Energy Investment Web. December <http://fs-unep-centre.org/sites/default/files/publications/ globaltrendsreport2012final.pdf> 15 Center for Clean Air Policy. Success Stories in Renewable Energy Deployment. Web <http://ccap.org/assets/ Success-Stories-in-Renewable-Energy_CCAP.pdf> Figure Section Note: The expenditure data in figure 2 were reported in USD and do not reflect the same exchange rate used elsewhere in this paper. Figure 1: Breakdown of IREDA s Sources Indian Renewable Energy Development Agency IREDA Annual Report Web. December <http://www. ireda.gov.in/pdf/annual_report eng.pdf > Figure 2: Investment in Renewable Energy in India by Sector, Popli, K.S. Development and Financing of Renewable Energy Projects in India: A Perspective. Web. April <http://ssef3. apricum-group.com/wp-content/uploads/2011/04/3-ireda- Popli pdf> 750 First Street, NE, Suite 940 Washington, DC p CCAP CENTER FOR CLEAN AIR POLICY

Revolving and Esco Funds for Renewable Energy and Energy Efficiency Finance

Revolving and Esco Funds for Renewable Energy and Energy Efficiency Finance Renewable Energy Industrial Energy Efficiency Building Energy Efficiency Revolving and Esco Funds for Renewable Energy and Energy Efficiency Finance Funding the future The growing might of financing boosts

More information

Increasing Distributed Solar Power through the Building Integrated Photovoltaic Project

Increasing Distributed Solar Power through the Building Integrated Photovoltaic Project RENEWABLE ENERGY Increasing Distributed Solar Power through the Building Integrated Photovoltaic Project A COMPREHENSIVE APPROACH Capacity support and incentives grow the photovoltaic market in Malaysia

More information

Renewable Energy. Reducing Barriers to Solar Power Deployment through the Ohisama Zero-Yen System

Renewable Energy. Reducing Barriers to Solar Power Deployment through the Ohisama Zero-Yen System Renewable Energy Reducing Barriers to Solar Power Deployment through the Ohisama Zero-Yen System Japan Reduces Barriers to Solar Power Social business helps citizens participate in the development of renewable

More information

Driving Industrial Energy Efficiency Through Energy Tax Rebates

Driving Industrial Energy Efficiency Through Energy Tax Rebates Industrial Energy Efficiency Driving Industrial Energy Efficiency Through Energy Tax Rebates Payoff for Efficiency Sweden s rebate program encourages voluntary energy efficiency improvements No Swedish

More information

Prospects for International Green Energy Equity Investments Private Equity perspective - India

Prospects for International Green Energy Equity Investments Private Equity perspective - India Prospects for International Green Energy Equity Investments Private Equity perspective - India Green / Renewable Energy and Energy Efficiency Indian Renewable Energy Sector Landscape few examples Policy

More information

SECTOR ASSESSMENT (SUMMARY): ENERGY. 1. Sector Performance, Problems, and Opportunities

SECTOR ASSESSMENT (SUMMARY): ENERGY. 1. Sector Performance, Problems, and Opportunities Country Operations Business Plan: Philippines, 2013 2015 SECTOR ASSESSMENT (SUMMARY): ENERGY 1. Sector Performance, Problems, and Opportunities 1. Challenges. Economic growth has been impeded in the Philippines

More information

INDONESIA S COUNTRY REPORT ENCOURAGING CLEAN ENERGY INITIATIVE

INDONESIA S COUNTRY REPORT ENCOURAGING CLEAN ENERGY INITIATIVE DEWAN PERWAKILAN RAKYAT REPUBLIK INDONESIA INDONESIA S COUNTRY REPORT ENCOURAGING CLEAN ENERGY INITIATIVE As part of the international community, Indonesia shares its concern on the environment and development

More information

Solar Power in China. By Zhou Fengqing

Solar Power in China. By Zhou Fengqing Solar Power in China By Zhou Fengqing Overview Adjust Chinese power structure Feasibility of solar power in China Solar energy as national policies Legislations of solar energy Adjust Chinese Power Structure

More information

Sustainable and Renewable Energy Development Authority (SREDA) of Bangladesh Role and Responsibility

Sustainable and Renewable Energy Development Authority (SREDA) of Bangladesh Role and Responsibility Sustainable and Renewable Energy Development Authority (SREDA) of Bangladesh Role and Responsibility Welcome to SREDA Siddique Zobair Member (EE & C) Sustainable & Renewable Energy Development Authority

More information

FINANCING OF LOW-CARBON ENERGY TECHNOLOGIES

FINANCING OF LOW-CARBON ENERGY TECHNOLOGIES FINANCING OF LOW-CARBON ENERGY TECHNOLOGIES Juan Alario Associate Director Head of Division, Energy Efficiency and Renewables European Investment Bank (EIB) III International Conference on Energy Innovation

More information

Success story: Feed-In Tariffs Support renewable energy in Germany

Success story: Feed-In Tariffs Support renewable energy in Germany Success story: Feed-In Tariffs Support renewable energy in Germany This document will show how this success story has been brought about and is made up of the following sections: 1. What is a Feed-In Tariff?

More information

Session 8A Energy Efficiency Finance 10:30-12:00 pm. Sara Bryan Pasquier David Morgado

Session 8A Energy Efficiency Finance 10:30-12:00 pm. Sara Bryan Pasquier David Morgado Session 8A Energy Efficiency Finance 10:30-12:00 pm Sara Bryan Pasquier David Morgado Topics/content The big picture Introduction to economic instruments Discussion break Economic instrument case studies

More information

OPTIONS FOR MOBILIZING CLEAN ENERGY FINANCE

OPTIONS FOR MOBILIZING CLEAN ENERGY FINANCE JUNE 2015 BUSINESS OPTIONS FOR MOBILIZING CLEAN ENERGY FINANCE Patrick Falwell, Center for Climate and Energy Solutions Clean energy and energy efficiency technologies are decreasing in cost and demonstrating

More information

New and Renewable Energy Policy in Republic of Korea

New and Renewable Energy Policy in Republic of Korea New and Renewable Energy Policy in Republic of Korea April 26th, 2010 Sanghoon Lee Research Fellow Climate Change Research Center Sejong University, Korea UTLINE Ⅰ. Energy Situation and NRE Status in Korea

More information

CANADIAN RENEWABLE ENERGY POLICIES. Matthew H. Brown InterEnergy Solutions 2007

CANADIAN RENEWABLE ENERGY POLICIES. Matthew H. Brown InterEnergy Solutions 2007 CANADIAN RENEWABLE ENERGY POLICIES Matthew H. Brown InterEnergy Solutions 2007 The following offers an overview of Canadian federal and provincial policies that promote renewable energy. It is excerpted

More information

Energy Projections 2006 2030 Price and Policy Considerations. Dr. Randy Hudson Oak Ridge National Laboratory

Energy Projections 2006 2030 Price and Policy Considerations. Dr. Randy Hudson Oak Ridge National Laboratory Energy Projections 2006 2030 Price and Policy Considerations Dr. Randy Hudson Oak Ridge National Laboratory There is perhaps no single current topic so potentially impacting to all life on this planet

More information

ACCELERATING GREEN ENERGY TOWARDS 2020. The Danish Energy Agreement of March 2012

ACCELERATING GREEN ENERGY TOWARDS 2020. The Danish Energy Agreement of March 2012 ACCELERATING GREEN ENERGY TOWARDS The Danish Energy Agreement of March 2012 The most ambitious energy plan of the world In March 2012 a historic new Energy Agreement was reached in Denmark. The Agreement

More information

In Focus. India s Renewable Energy Certificate Market

In Focus. India s Renewable Energy Certificate Market 2011 1 India s Renewable Energy Certificate Market In Focus India s Renewable Energy Certificate Market Carbon Credit Capital LLC 561 Broadway New York, NY 10012 Tel: 212-925-5697 (Main Office) www.carboncreditcapital.com

More information

Renewable Energy Development and Environment in Thailand: Rangsan Sarochawikasit

Renewable Energy Development and Environment in Thailand: Rangsan Sarochawikasit Renewable Energy Development and Environment in Thailand: Rangsan Sarochawikasit 1. Thailand national energy policy Dr Thaksin Shinawatra s government has formulated an energy policy to emphasize and promote

More information

Can India Create an Incentive Based Regime for Significant Power Industries on Renewable Energy? Rajiv Lall Managing Director, IDFC

Can India Create an Incentive Based Regime for Significant Power Industries on Renewable Energy? Rajiv Lall Managing Director, IDFC Can India Create an Incentive Based Regime for Significant Power Industries on Renewable Energy? Rajiv Lall Managing Director, IDFC Washington DC, 15 th October 2008 Renewable Energy Outlook Renewable

More information

Policy Brief International Renewable Energy Investment Credits Under a Federal Renewable Energy Standard

Policy Brief International Renewable Energy Investment Credits Under a Federal Renewable Energy Standard Policy Brief International Renewable Energy Investment Credits Under a Federal Renewable Energy Standard Andrew Stevenson and Nigel Purvis* July 13, 2010 Key Findings Allowing regulated entities to comply

More information

Renewable Energy Strategy for 2020 and Regulatory Framework. Eng. Hatem Amer Egyptian Electric Regulatory and Consumer Protection Agency

Renewable Energy Strategy for 2020 and Regulatory Framework. Eng. Hatem Amer Egyptian Electric Regulatory and Consumer Protection Agency Renewable Energy Strategy for 2020 and Regulatory Framework Eng. Hatem Amer Egyptian Electric Regulatory and Consumer Protection Agency Objectives of the Agency Regulate, supervise, and control all matters

More information

Guidance for U.S. Positions on MDBs Engaging with Developing Countries on Coal-Fired Power Generation 1

Guidance for U.S. Positions on MDBs Engaging with Developing Countries on Coal-Fired Power Generation 1 October 29, 2013 Guidance for U.S. Positions on MDBs Engaging with Developing Countries on Coal-Fired Power Generation 1 The following guidance is intended to be adapted by individual MDBs and incorporated

More information

o SEP grant: $10,000,000.00 o Leveraged funds anticipated

o SEP grant: $10,000,000.00 o Leveraged funds anticipated Federal Stimulus Allocation Plan State Energy Program (SEP) Funds State of Florida Allotment: $126,089,000.00 Total Jobs Created/Retained from SEP Funds: 1,832 Renewable Energy Programs Allocation for

More information

SOUTHEAST ENERGY EFFICIENCY ALLIANCE. Clean Energy Greenville, SC May 29, 2009

SOUTHEAST ENERGY EFFICIENCY ALLIANCE. Clean Energy Greenville, SC May 29, 2009 SOUTHEAST ENERGY EFFICIENCY ALLIANCE Clean Energy Greenville, SC May 29, 2009 Who is SEEA? The Southeast Energy Efficiency Alliance builds regional partnerships to promote and achieve energy efficiency

More information

ANALYSIS OF THE ADMINISTRATION S PROPOSED TAX INCENTIVES FOR ENERGY EFFICIENCY AND THE ENVIRONMENT

ANALYSIS OF THE ADMINISTRATION S PROPOSED TAX INCENTIVES FOR ENERGY EFFICIENCY AND THE ENVIRONMENT June 28, 1999 ANALYSIS OF THE ADMINISTRATION S PROPOSED TAX INCENTIVES FOR ENERGY EFFICIENCY AND THE ENVIRONMENT INTRODUCTION A few months ago in the FY 2000 budget the President proposed a $3.6 billion

More information

Solar Power Project Financing

Solar Power Project Financing Solar Power Project Financing Aligning Banker-Borrower- Investor Perspective International Conclave on Climate Change October 12-14,2011 Hyderabad 1 Agenda Clean Energy Biz Architecture Clean Energy Biz

More information

The President s Blueprint for a Secure Energy Future

The President s Blueprint for a Secure Energy Future U.S. Renewable Energy Policy Landscape December 2012 Dr. Casey Delhotal Director, East Asian Affairs The President s Blueprint for a Secure Energy Future Goals Reduce oil imports by one-third by 2025 Generate

More information

KERALA STATE ELECTRICITY REGULATORY COMMISSION THIRUVANANTHAPURAM IN THE MATTER OF

KERALA STATE ELECTRICITY REGULATORY COMMISSION THIRUVANANTHAPURAM IN THE MATTER OF KERALA STATE ELECTRICITY REGULATORY COMMISSION THIRUVANANTHAPURAM PRESENT: Shri. K.J.Mathew, Chairman Shri. C. Abdulla, Member Shri. M.P.Aiyappan, Member Petition No. CT/SOLAR JNNSM/KSERC/2010 August 4,

More information

International Solar Energy Arena January 23rd, 2009, Istanbul STEAM (Strategic Technical Economic Research Center)

International Solar Energy Arena January 23rd, 2009, Istanbul STEAM (Strategic Technical Economic Research Center) International Solar Energy Arena January 23rd, 2009, Istanbul STEAM (Strategic Technical Economic Research Center) Good morning. Sayin Bakanım. Members of Parliament. Ladies and Gentlemen. Slide 1: Opening

More information

Keisuke Sadamori Director, Energy Markets and Security International Energy Agency Kuala Lumpur, 8 October

Keisuke Sadamori Director, Energy Markets and Security International Energy Agency Kuala Lumpur, 8 October Keisuke Sadamori Director, Energy Markets and Security International Energy Agency Kuala Lumpur, 8 October The context Southeast Asia is a key pillar of Asia s growth A mix of countries with disparate

More information

BUILDING ENERGY EFFICIENCY. A Certification System for Building Efficiency ORTUGAL

BUILDING ENERGY EFFICIENCY. A Certification System for Building Efficiency ORTUGAL BUILDING ENERGY EFFICIENCY A Certification System for Building Efficiency ORTUGAL ENERGY PERFORMANCE Portugal s certification system for buildings encourages efficiency Portugal has significant potential

More information

OFFICIAL VERSION IN SPANISH. LEGISLATIVE ASSEMBLY LAW No. 45 (Of August 4, 2004)

OFFICIAL VERSION IN SPANISH. LEGISLATIVE ASSEMBLY LAW No. 45 (Of August 4, 2004) LEGISLATIVE ASSEMBLY LAW No. 45 (Of August 4, 2004) That establishes a regime of incentives for the promotion of hydroelectric generation systems and other new, renewable and clean resources, and other

More information

Photovoltaic in Mexico Recent Developments and Future

Photovoltaic in Mexico Recent Developments and Future Photovoltaic in Mexico Recent Developments and Future Rodolfo Martínez Strevel Berlin, Germany May 23th, 2013 Bufete de Tecnología Solar, S.A. (BUTECSA) Production of Primary Energy in Mexico, 2011 % 7,0

More information

Levelized Cost of New Electricity Generating Technologies

Levelized Cost of New Electricity Generating Technologies Levelized Cost of New Electricity Generating Technologies The Energy Information Administration (EIA) produces forecasts of energy supply and demand for the next 20 years using the National Energy Modeling

More information

Some highlights of the South Australia study include: A large untapped resource: The modelling results show strong growth in

Some highlights of the South Australia study include: A large untapped resource: The modelling results show strong growth in South Australia has enough clean energy potential to power homes remove pollution equivalent to cars create 3,000,000 450,000 5,000 new jobs Australia is in the early stages of a clean energy boom, with

More information

Melbourne Promotes Building Upgrades with Environmental Upgrade Finance USTRALIA

Melbourne Promotes Building Upgrades with Environmental Upgrade Finance USTRALIA BUILDING ENERGY EFFICIENCY Melbourne Promotes Building Upgrades with Environmental Upgrade Finance USTRALIA RETROFITTING MELBOURNE Addressing barriers to investment through a Property Assessed Clean Energy

More information

Combined Heat & Power. Discussion with Connecticut Energy Advisory Board. February 23, 2010

Combined Heat & Power. Discussion with Connecticut Energy Advisory Board. February 23, 2010 Combined Heat & Power Discussion with Connecticut Energy Advisory Board February 23, 2010 Discussion Topics Introduce NRG Thermal Representative NRG Thermal projects District Energy Combined Heat and Power

More information

IREDA-NCEF REFINANCE SCHEME

IREDA-NCEF REFINANCE SCHEME IREDA-NCEF REFINANCE SCHEME REVIVAL OF THE OPERATIONS OF EXISTING BIOMASS POWER & SMALL HYDRO POWER PROJECTS AFFECTED DUE TO UNFORSEEN CIRCUMSTANCES SUPPORTED BY THE NATIONAL CLEAN ENERGY FUND IREDA NCEF

More information

PG&E and Renewable Energy. Chuck Hornbrook Senior Manager Solar and Customer Generation

PG&E and Renewable Energy. Chuck Hornbrook Senior Manager Solar and Customer Generation PG&E and Renewable Energy Chuck Hornbrook Senior Manager Solar and Customer Generation PG&E and our Business What we do: Deliver safe, reliable, and environmentally responsible gas and electricity to approximately

More information

Greenhouse Gas Offsets and Renewable Energy Certificates: Distinct Commodities in an Evolving Market The Climate Trust

Greenhouse Gas Offsets and Renewable Energy Certificates: Distinct Commodities in an Evolving Market The Climate Trust Greenhouse Gas Offsets and Renewable Energy Certificates: Distinct Commodities in an Evolving Market The Climate Trust Introduction The framework for future climate policy is emerging in the United States

More information

Financing of Renewable Energy in India: Implications for Policy. Gireesh Shrimali Climate Policy Initiative gireesh.shrimali@cpihyd.

Financing of Renewable Energy in India: Implications for Policy. Gireesh Shrimali Climate Policy Initiative gireesh.shrimali@cpihyd. Financing of Renewable Energy in India: Implications for Policy Gireesh Shrimali Climate Policy Initiative gireesh.shrimali@cpihyd.org CPI analyzes the effectiveness of policies relevant to climate change

More information

NARUC International Relations Committee Meeting February 5, 2012 Washington, D.C. Jay Godfrey Jfgodfrey@aep.com Managing Director, Renewable Energy

NARUC International Relations Committee Meeting February 5, 2012 Washington, D.C. Jay Godfrey Jfgodfrey@aep.com Managing Director, Renewable Energy NARUC International Relations Committee Meeting February 5, 2012 Washington, D.C. Jay Godfrey Jfgodfrey@aep.com Managing Director, Renewable Energy American Electric Power Company U.S. electric generation

More information

Arab Republic of Egypt Ministry of Electricity & Energy New & Renewable Energy Authority (NREA)

Arab Republic of Egypt Ministry of Electricity & Energy New & Renewable Energy Authority (NREA) Arab Republic of Egypt Ministry of Electricity & Energy New & Renewable Energy Authority (NREA) Oct. 2012 Institutional framework: Establishing NREA (1986) The national focal point to develop and introduce

More information

Sri Lanka s Power Generation Renewable Energy Prospective

Sri Lanka s Power Generation Renewable Energy Prospective CEYLON ELECTRICITY BOARD Sri Lanka s Power Generation Renewable Energy Prospective Eng. Noel Priyantha Chief Engineer (Renewable Energy) Transmission Division Ceylon Electricity Board Sri Lanka May 2016

More information

Renewable Energy Market Conditions and the 1705 Loan Guarantee Program

Renewable Energy Market Conditions and the 1705 Loan Guarantee Program Renewable Energy Market Conditions and the 1705 Loan Guarantee Program The US Partnership for Renewable Energy Finance (US PREF) has prepared the following brief summary of changes in the marketplace for

More information

Financing Energy Efficiency and Renewable Energy: Thailand s ENCON Fund

Financing Energy Efficiency and Renewable Energy: Thailand s ENCON Fund International Energy Efficiency Forum, ASTANA, KAZAKHSTAN, 27-30 September 2010 Financing Energy Efficiency and Renewable Energy: Thailand s ENCON Fund Prasert Sinsukprasert Director of Planning Division

More information

SECTOR ASSESSMENT (SUMMARY): ENERGY 1

SECTOR ASSESSMENT (SUMMARY): ENERGY 1 Country Partnership Strategy: Kazakhstan 2012 2016 SECTOR ASSESSMENT (SUMMARY): ENERGY 1 Sector Road Map 1. Sector Performance, Problems, and Opportunities 1. Overview. Oil accounts for about a quarter

More information

2. Electric power transmission systems including upgrading and reconductoring projects.

2. Electric power transmission systems including upgrading and reconductoring projects. PSRP Name: Innovative Technology Loan Guarantee Program PSRP Lead Program Office and/or Laboratory/Site Office: Loan Guarantee Program Office (LGPO) PSRP Lead Manager: Douglas Schultz Phone: 202-586-8336

More information

IREDA-NCEF REFINANCE SCHEME REFINANCE SCHEME FOR PROMOTION OF RENEWABLE ENERGY SUPPORTED BY THE NATIONAL CLEAN ENERGY FUND

IREDA-NCEF REFINANCE SCHEME REFINANCE SCHEME FOR PROMOTION OF RENEWABLE ENERGY SUPPORTED BY THE NATIONAL CLEAN ENERGY FUND IREDA-NCEF REFINANCE SCHEME REFINANCE SCHEME FOR PROMOTION OF RENEWABLE ENERGY SUPPORTED BY THE NATIONAL CLEAN ENERGY FUND IREDA NCEF REFINANCE SCHEME REFINANCE SCHEME FOR PROMOTION OF RENEWABLE ENERGY

More information

ELECTRICITY MARKET REFORM (EMR) & THE ENERGY BILL INENCO OVERVIEW

ELECTRICITY MARKET REFORM (EMR) & THE ENERGY BILL INENCO OVERVIEW ELECTRICITY MARKET REFORM (EMR) & THE ENERGY BILL INENCO OVERVIEW February 2014 ELECTRICITY MARKET REFORM (EMR) & THE ENERGY BILL The Energy Bill is the government s flagship energy policy. There have

More information

Energy Training Week 2013 Course 3: Energy Efficiency Policy and Measures Financing energy efficiency Melissa Lott and Grayson Heffner 10 April 2013

Energy Training Week 2013 Course 3: Energy Efficiency Policy and Measures Financing energy efficiency Melissa Lott and Grayson Heffner 10 April 2013 Energy Training Week 2013 Course 3: Energy Efficiency Policy and Measures Financing energy efficiency Melissa Lott and Grayson Heffner 10 April 2013 Finance session objectives Appreciate the scale of energy

More information

Electric Utilities. Introduction to the module

Electric Utilities. Introduction to the module Introduction to the module The electric utilities module is based on a reporting framework produced by the Institutional Investors Group on Climate Change (IIGCC), Ceres, and the Investor Group on Climate

More information

THE INDIAN MARKET FOR RENEWABLE ENERGY THE 100 GW SOLAR INITIATIVE

THE INDIAN MARKET FOR RENEWABLE ENERGY THE 100 GW SOLAR INITIATIVE THE INDIAN MARKET FOR RENEWABLE ENERGY THE 100 GW SOLAR INITIATIVE PRESENTATION BY : MR KESHAV PRASAD MEMBER, DELEGATION OF THE CONFEDERATION OF INDIAN INDUSTRY (CII) & CHIEF OPERATING OFFICER, IL&FS ENERGY

More information

Tanzania Energy Development and Access Project (TEDAP) and SPPs. Reiche

Tanzania Energy Development and Access Project (TEDAP) and SPPs. Reiche Tanzania Energy Development and Access Project (TEDAP) and SPPs Dana Rysankova, The World Reiche Bank 1 TEDAP background at appraisal Tanzania electrification rate : 14% overall, less than 3% rural Total

More information

Clean State Energy Actions 2011 Update. connecticut

Clean State Energy Actions 2011 Update. connecticut Energy Efficiency Appliance/Equipment Efficiency Standards Building Energy Codes Utility Demand-Side-Management Utility Rate Realignment Energy Savings Targets/Energy Efficiency Resource Standards Public

More information

Wind Power in India: behind the success story

Wind Power in India: behind the success story United Nations CSD 15 8 May 2007 Wind Power in India: behind the success story Binu PARTHAN, Deputy Director REEEP Dr. Xavier LEMAIRE, Sustainable Energy Regulation Network/REEEP Context India has frequent

More information

Renewable Energy Supply

Renewable Energy Supply Renewable Energy Supply Financing RE Projects in Chile Rodrigo Violic Head of Project Finance, Banco BICE Bonn, Germany, June 3, 2015 The Chilean Energy Sector Current installed capacity of c. 20,000 MW

More information

Renewable Energies: Opportunities for Mexico

Renewable Energies: Opportunities for Mexico Renewable Energies: Opportunities for Mexico Maria Elena Sierra Deputy Director Marzo 2007 2 What is CONAE? Federal Entity under the umbrella of the Ministry of Energy with managerial, financial and technical

More information

IDCOL Solar Home System Program

IDCOL Solar Home System Program IDCOL Solar Home System Program S. M. Monirul Islam Chief Financial Officer and Head of Operations Infrastructure Development Company Limited Pattaya, Thailand - 25 April 2014 Bangladesh: Key Energy Outlook

More information

Electricity Generation from Renewable Energy in Sri Lanka: Future Directions

Electricity Generation from Renewable Energy in Sri Lanka: Future Directions Electricity Generation from Renewable Energy in Sri Lanka: Future Directions Presented by M.M.C. Ferdinando, Secretary, Ministry of Power and Energy R.J. Gunawardana, Additional General Manager (Transmission),

More information

Growing the Green Economy

Growing the Green Economy Growing the Green Economy Labour Green Economy Paper.indd 1 05/02/2016 17:44 Our Plan Establish a green infrastructure fund worth 1bn. We recognise the need to fund immediate action on climate change.

More information

Success in Renewables. Glossary of Terms Investment and Renewables

Success in Renewables. Glossary of Terms Investment and Renewables Success in Renewables Glossary of Terms Investment and Renewables If you re new to renewable energy or investment, then it can be a minefield of new language and terminology. What seems totally normal

More information

Wind Energy in Texas: Developments & Trends

Wind Energy in Texas: Developments & Trends Wind Energy in Texas: Developments & Trends German American Chamber of Commerce of the Southern United States, Inc. Silke Miehlke Director, Consulting Services 2011, Hannover Messe Agenda Market Overview

More information

Renewable Choice Energy

Renewable Choice Energy Catawba College Table of Contents About Renewable Choice The Problem: Electricity Production Today The Solutions: Renewable Energy Sources Renewable Energy Credits (RECs) Who can participate in Renewable

More information

Clean State Energy Actions 2011 Update. north carolina. Energy efficiency included in North Carolina s REPS

Clean State Energy Actions 2011 Update. north carolina. Energy efficiency included in North Carolina s REPS Energy Efficiency Building Energy Codes Utility Demand-Side-Management Utility Rate Realignment Energy Savings Targets/Energy Efficiency Resource Standards 2009 North Carolina Energy Conservation Code

More information

PUNJAB STATE ELECTRICITY REGULATORY COMMISSION SCO 220-221, SECTOR 34-A, CHANDIGARH. Petition No.26 of 2010 (Suo Motu) Date of Order: 7.7.

PUNJAB STATE ELECTRICITY REGULATORY COMMISSION SCO 220-221, SECTOR 34-A, CHANDIGARH. Petition No.26 of 2010 (Suo Motu) Date of Order: 7.7. PUNJAB STATE ELECTRICITY REGULATORY COMMISSION SCO 220-221, SECTOR 34-A, CHANDIGARH Petition No.26 of 2010 (Suo Motu) Date of Order: 7.7.2010 In the matter of : Determination of generic levellised generation

More information

The Private Sector Role in Clean Energy NGA Clean Energy Financing Workshop Neal Skiver Energy & Power Finance Banc of America Public Capital Corp

The Private Sector Role in Clean Energy NGA Clean Energy Financing Workshop Neal Skiver Energy & Power Finance Banc of America Public Capital Corp The Private Sector Role in Clean Energy NGA Clean Energy Financing Workshop Neal Skiver Energy & Power Finance Banc of America Public Capital Corp February 25, 2010 The American Recovery and Reinvestment

More information

REC QUESTIONS & ANSWERS

REC QUESTIONS & ANSWERS REC QUESTIONS & ANSWERS Q: What is a REC? A: A Renewable Energy Certificate (REC), also known as a Green Tag, Renewable Energy Credit, or Tradable Renewable Energy Certificate (TREC), is a tradable environmental

More information

Law of the Republic of Kazakhstan «ABOUT SUPPORT OF USE OF RENEWABLE SOURCES OF ENERGY»

Law of the Republic of Kazakhstan «ABOUT SUPPORT OF USE OF RENEWABLE SOURCES OF ENERGY» Law of the Republic of Kazakhstan «ABOUT SUPPORT OF USE OF RENEWABLE SOURCES OF ENERGY» Draft The present Law regulates public relations in the area of the usage of Renewable Energy Sources, establishes

More information

New business segments for the energy saving industry Energy efficiency and decentralised energy systems in the building & housing sector

New business segments for the energy saving industry Energy efficiency and decentralised energy systems in the building & housing sector New business segments for the energy saving industry Energy efficiency and decentralised energy systems in the building & housing sector Workshop on ESCOs Energy Service Companies March 28-29, 2012, Ramat

More information

Levelized Cost and Levelized Avoided Cost of New Generation Resources in the Annual Energy Outlook 2015

Levelized Cost and Levelized Avoided Cost of New Generation Resources in the Annual Energy Outlook 2015 June 2015 Levelized Cost and Levelized Avoided Cost of New Generation Resources in the Annual Energy Outlook 2015 This paper presents average values of levelized costs for generating technologies that

More information

POLICY ACTIONS INVESTING IN INNOVATION

POLICY ACTIONS INVESTING IN INNOVATION The BC Energy Plan ALTERNATIVE ENERGY Government will work with other agencies to maximize opportunities to develop, deploy and export British Columbia clean and alternative energy technologies. POLICY

More information

Powering Your Home with Solar Energy

Powering Your Home with Solar Energy Powering Your Home with Solar Energy Putting Your Roof to Work The sun is waiting to turn your roof into its own miniature electrical power plant. Using solar energy to power your home not only lowers

More information

welcome! Turkish Renewable Energy Market Rome 29 th April 2015 Levent Çelepçi

welcome! Turkish Renewable Energy Market Rome 29 th April 2015 Levent Çelepçi welcome! Turkish Renewable Energy Market Rome 29 th April 2015 Levent Çelepçi Turkish Map 65,000,000,000 Dollars Current Deficit Overview Turkish Electricity Market-Growth Potential Turkey s importance

More information

SUSTAINABLE ENERGY BLUEPRINT

SUSTAINABLE ENERGY BLUEPRINT SUSTAINABLE ENERGY BLUEPRINT A PLAUSIBLE STRATEGY FOR ACHIEVING A NO-NUCLEAR, LOW- CARBON, HIGHLY-EFFICIENT AND SUSTAINABLE ENERGY FUTURE The following statement outlines an ambitious but doable strategy

More information

California Energy Commission 2015 Accomplishments

California Energy Commission 2015 Accomplishments California Energy Commission 2015 Accomplishments Responding to California s Drought Responded to the state's historic drought and Governor Edmund G. Brown Jr. s Executive Order B-29-15 by approving new

More information

Regulation for Renewable Energy Development: Lessons from Sri Lanka Experience

Regulation for Renewable Energy Development: Lessons from Sri Lanka Experience Regulation for Renewable Energy Development: Lessons from Sri Lanka Experience Priyantha D C Wijayatunga Asian Development Bank, Manila, Philippines * Corresponding author. Tel: +6326326131, Fax: +6326362338,

More information

Emerging market for Green Certificates

Emerging market for Green Certificates Emerging market for Green Certificates Dr Marianne OSTERKORN, Director of REEEP Dr Xavier LEMAIRE, SERN/REEEP CONTENT 1. What is a certificate system? 2. How certificates system works 3. What are the benefits

More information

The Future of Renewables. Stuart Pocock Chief Operating Officer

The Future of Renewables. Stuart Pocock Chief Operating Officer The Future of Renewables Stuart Pocock Chief Operating Officer Who we are The REA was established in 2001 as a not-for-profit trade association, representing British renewable energy producers and promoting

More information

Overview on SEA output

Overview on SEA output 1 st SEA workshop of the revised PDP VII Overview on SEA output of Project N a t i o n a l P o w e r D e v e l o p m e n t P l a n p e r i o d 2 0 11-2 0 2 0, v i s i o n 2 0 3 0 ( P D P V I I ) P r e

More information

Examples of State Tax Credits and Incentive Programs for Renewable Energy Projects and Energy Efficiency Improvements

Examples of State Tax Credits and Incentive Programs for Renewable Energy Projects and Energy Efficiency Improvements TN TVA - Generation Partners Program i Performance-based incentive Tennessee Valley Authority (TVA) and participating power distributors of TVA power offer a production-based incentive program to Valley

More information

CHP & ENVIRONMENTAL COMMODITIES: MARKET & POLICY UPDATE FOR MONETIZING RENEWABLE ENERGY CREDITS FROM CHP PROJECTS. Thomas Jacobsen October 2012

CHP & ENVIRONMENTAL COMMODITIES: MARKET & POLICY UPDATE FOR MONETIZING RENEWABLE ENERGY CREDITS FROM CHP PROJECTS. Thomas Jacobsen October 2012 CHP & ENVIRONMENTAL COMMODITIES: MARKET & POLICY UPDATE FOR MONETIZING RENEWABLE ENERGY CREDITS FROM CHP PROJECTS Thomas Jacobsen October 2012 ELEMENT MARKETS US Emissions House of the Year Launched in

More information

2. Place of renewable energy in the context of developing global energy at present stage

2. Place of renewable energy in the context of developing global energy at present stage Renewable Energy Strategy to promote an enhanced investment climate for renewable energy technologies for submission to national and regional authorities in participating CIS countries 1. Introduction

More information

PG&E and Renewables. Finding the ROI in Green Programs. Andrew Yip Manager Solar and Customer Generation Integrated Demand-Side Management

PG&E and Renewables. Finding the ROI in Green Programs. Andrew Yip Manager Solar and Customer Generation Integrated Demand-Side Management 1 PG&E and Renewables Finding the ROI in Green Programs Andrew Yip Manager Solar and Customer Generation Integrated Demand-Side Management Pacific Gas and Electric Company Energy services to 15 MM people:

More information

Electric Utilities. Introduction to the module

Electric Utilities. Introduction to the module Introduction to the module The electric utilities module is based on a reporting framework produced by the Institutional Investors Group on Climate Change (IIGCC), Ceres, and the Investor Group on Climate

More information

Clean State Energy Actions 2011 Update. california

Clean State Energy Actions 2011 Update. california Energy Efficiency Appliance/Equipment Efficiency Standards Building Energy Codes Utility Rate Realignment Minimum energy efficiency standards for 21 categories of appliances Set minimum energy efficiency

More information

Renewable Energy Certificates

Renewable Energy Certificates EPA s Green Power Partnership Renewable Energy Certificates Last updated: July 2008 U.S. Environmental Protection Agency 1200 Pennsylvania Ave, NW (Mail Code 6202J) Washington, DC 20460 www.epa.gov/greenpower

More information

How to Earn the LEED Green Power Credit

How to Earn the LEED Green Power Credit 3D EG REES WH ITE PAPER How to Earn the LEED Green Power Credit Using on-site and off-site renewable energy to mitigate the impact of greenhouse gas emissions associated with a LEED project s energy use

More information

DOE Announces $1B Loan Guarantee Fund For Distributed Energy Projects

DOE Announces $1B Loan Guarantee Fund For Distributed Energy Projects RESEARCH North America Alternative Energy Smart Grid DOE Announces $1B Loan Guarantee Fund For Distributed Energy Projects Financing Structure Aimed At Innovative Large-Scale Distributed Energy Projects

More information

IDBI Green Bond Framework

IDBI Green Bond Framework IDBI Green Bond Framework Background IDBI Bank Ltd. is a Universal Bank with its operations driven by a cutting edge core Banking IT platform. The Bank offers personalized banking and financial solutions

More information

GLOBAL RENEWABLE ENERGY MARKET OUTLOOK 2013

GLOBAL RENEWABLE ENERGY MARKET OUTLOOK 2013 GLOBAL RENEWABLE ENERGY MARKET OUTLOOK 213 FACT PACK GUY TURNER HEAD OF ECONOMICS AND COMMODITIES APRIL 26, 213 GLOBAL RENEWABLE ENERGY MARKET OUTLOOK, 26 APRIL 213 1 INTRODUCTION This year s Global Renewable

More information

RENEWABLE ENERGY DEVELOPMENT PROGRAM IN INDONESIA

RENEWABLE ENERGY DEVELOPMENT PROGRAM IN INDONESIA RENEWABLE ENERGY DEVELOPMENT PROGRAM IN INDONESIA Presented at: GLOBAL WORKSHOP ON GRID CONNECTED RENEWABLE ENERGY CONDUCT by USAID / USEA WASHINGTON, D.C. August 28 September 5, 2009 Energy Mix Situation:

More information

Analysis of a 30 Percent by 2030 National Renewable Electricity Standard

Analysis of a 30 Percent by 2030 National Renewable Electricity Standard Analysis of a 30 Percent by 2030 National Renewable Electricity Standard Alison Bailie, Steve Clemmer, and Jeff Deyette May 12, 2015 Photo: istock 2015 Union of Concerned Scientists www.ucsusa.org/30by2030nationalres.pdf

More information

Clean State Energy Actions 2011 Update. nevada

Clean State Energy Actions 2011 Update. nevada Energy Efficiency Appliance/Equipment Efficiency Standards Building Energy Codes Utility Demand-Side-Management Utility Rate Realignment Energy Savings Targets/Energy Efficiency Resource Standards Requires

More information

RENEWABLE ENERGY DEVELOPMENT IN LITHUANIA ACHIEVEMENTS AND DRAWBACKS

RENEWABLE ENERGY DEVELOPMENT IN LITHUANIA ACHIEVEMENTS AND DRAWBACKS RENEWABLE ENERGY DEVELOPMENT IN LITHUANIA ACHIEVEMENTS AND DRAWBACKS Ieva Kuodė Ministry of Energy of the Republic of Lithuania SOLINVEST 2015-06-02 RES TARGETS BY 2020 23% the share of energy from renewable

More information

Energy Offices Meeting

Energy Offices Meeting NASEO 2014 Mid Atlantic Regional State 25x 25: Progressing Towards the Goal Ernie Shea Project Coordinator May 1, 2014 Valley Forge, PA Energy Offices Meeting 25x 25: A National Alliance Formed through

More information

CRS Report Summaries WORKING DRAFT

CRS Report Summaries WORKING DRAFT CRS Report Summaries R40147 Green Buildings This is a definition and analysis of the cost and benefits of green buildings. It also cites agencies and laws that encourage the building of environmentally

More information

WORLD ENERGY INVESTMENT OUTLOOK 2014 FACTSHEET OVERVIEW

WORLD ENERGY INVESTMENT OUTLOOK 2014 FACTSHEET OVERVIEW OVERVIEW More than $1.6 trillion was invested in 2013 in energy supply, a figure that has more than doubled in real terms since 2000, and a further $130 billion to improve energy efficiency. Renewables

More information