CAREC to form Green Energy Alliance

To enable the transition towards a green and clean energy sector, CAREC members agreed on the key features for a CAREC Green Energy Alliance. The Alliance shall be the 1st targeted financing vehicle in the region supporting the development of renewable energy and energy efficiency projects.

The CAREC Green Energy Alliance shall be a digital project marketplace providing access to investment-ready green energy projects, affordable finance, and project preparation support. Through virtual matchmaking, financiers and project developers will be put in touch to start realizing their projects.

If you belong to one of the following groups, the Green Energy Alliance may be for you:

  • You are a government looking for project ideas to meet climate targets?
  • You have an investment-ready project but need affordable financing?
  • You are a financier ready to support green energy projects?
  • You have a project idea but need support to evaluate its feasibility?

The CAREC Green Energy Alliance is expected to fill parts of the investment gap to achieve a greener regional energy mix.

The concept for the CAREC Green Energy Alliance was adopted by the Program’s Energy Sector Committee in April 2022. The set-up of the platform is envisaged in 2023/2024.

The CAREC Green Energy Alliance is developed as part of achieving CAREC Energy Strategy Pillar 3 (Enhancing Sustainability by Greening the Regional Energy System).

Share:

Copyright © 2022 Asian Development Bank. All rights reserved.