The European Commission (EC) has released a report documenting the financial resources and tools deployed thus far to support sustainable energy development abroad.
'Empowering Development: Delivering Results in the Decade of Sustainable Energy for All' gives an overview of the country context, main activities and expected results of energy-related projects supported by the EU in developing countries.
4 June 2014: The European Commission (EC) has released a report documenting the financial resources and tools it has deployed to support sustainable energy development abroad. Titled ‘Empowering Development: Delivering Results in the Decade of Sustainable Energy for All (SE4ALL),’ the report gives an overview of the country context, main activities and expected results of energy-related projects supported by the EU in developing countries.
The report aims to demonstrate how the EU transforms commitments into actions. Projects described in the report span the globe, including: developing Pakistan’s hydropower sector; expanding hydroelectric energy to isolated villages in Tanzania; installing solar home systems in rural Ugandan households; demonstrating a solar and biomass power plant in Namibia; improving transmission lines in Paraguay; building a grid interconnection in Georgia; creating a Caucasus Sustainable Energy Finance Facility; and designing the Moldovan Residential Energy Efficiency Financing Facility (MoREEFF).
The report also outlines the EU’s energy approach in development and its plans for continued work. When investing in projects, the EU aims to end energy poverty and foster growth, largely by creating the conditions that will attract private sector investment, according to the report. It focuses on enabling a policy and regulatory framework that is conducive to private sector activities. Countries are supported in this effort with funds from the EU Technical Assistance Facility.
From 2014 to 2020, the EU intends to invest €3 billion in sustainable energy in its partner countries. According to the report, this investment will leverage another €15 billion in equity and loans. In deploying this next round of finance, the EU’s strategy will concentrate on: refining existing instruments and adapting them to local realities; boosting the productive use of energy; scaling existing activities; partnering with the local private sector and other networks; and addressing constraints encountered in the last phase of support. [EC Publication Webpage] [Publication: Empowering Development: Delivering Results in the Decade of Sustainable Energy for All]