IRENA’s Members approach their energy transitions strategies with different baselines, circumstances and priorities. Considering these individual particularities, the objective of the proposed Collaborative Framework on Project Facilitation is to convene Members in an inclusive space to discuss their perspectives with the view to engage in an open and transparent dialogue on the unique challenges Members face in attracting capital to develop bankable RE projects. The Framework provides a venue to discuss the hurdles faced by individual countries in accessing finance to deploy RE technologies at scale.
The Framework also explores more broadly, how IRENA can amplify its existing support and further tailor its assistance to Members in relevant areas of enquiry. It provides a forum to address the specific areas of focus that Members require IRENA’s support to further their measures toward energy transitions by project-level interventions. For example, at the local level, the Framework examines the role of local financial institutions in the finance of RE projects and discuss ways to crowd in investments from local banks. At a macroeconomic level, the Framework addresses the role of the Central Bank in developing green investment guidelines, strategies, and policies to guide local banks in making green investments.
To guide discussions on the way forward, the proposal below highlights issues for consideration and endorsement by participants regarding the principles, modalities, and linkages of the Collaborative Framework.
The first meeting of the Collaborative Framework on Project Facilitation to support Members in their Energy Transition took place on May 19, 2022. The meeting identified priority issues, objectives, collaboration modalities, and proposed the way forward for the agency’s work on project facilitation and support. The Collaborative Framework provides a venue to discuss the challenges faced by individual countries in accessing finance to deploy RE technologies at scale and explores how IRENA can amplify its existing support and further tailor its assistance to Members in relevant areas of enquiry.
Members specifically agreed for the Collaborative Framework to:
- Serve as an inclusive multi-stakeholder platform to bring together relevant public, private, intergovernmental and non-governmental entities to support the development and finance of bankable RE projects.
- Contribute to strengthening international cooperation and collaborative approaches to address pressing challenges, seize potential opportunities and harness socio-economic benefits of an energy transformation driven by renewables.
- Facilitate the exchange of knowledge, experience, and best practices; and
- Foster enabling policy, regulatory, and financial frameworks that support the development and finance of RE projects.