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El PNUMA y la El PNUMA y la Promoción de Energías Promoción de Energías Renovables Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes Unidas o Meio Ambiente Oficina Regional para América Latina y el Caribe Oficina Regional para América Latina y el Caribe Regional Office for Latin America and the Caribbean Regional Office for Latin America and the Caribbean Programa de las Naciones Unidas para el Medio Ambiente XXVI Reunión del COFER México DF 16 de Agosto de 2001 Dr. Diego Masera Dr. Diego Masera Coordinador del Programa de Industria Coordinador del Programa de Industria para América Latina y el Caribe para América Latina y el Caribe

El PNUMA y la Promoción de Energías Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes

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Page 1: El PNUMA y la Promoción de Energías Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes

El PNUMA y la El PNUMA y la Promoción de Energías Promoción de Energías RenovablesRenovables

Programme des Nations Unies pour l’EnvironnementUnited Nations Environment ProgrammePrograma das Naçoes Unidas o Meio Ambiente

Oficina Regional para América Latina y el CaribeOficina Regional para América Latina y el CaribeRegional Office for Latin America and the CaribbeanRegional Office for Latin America and the Caribbean

Programa de las Naciones Unidaspara el Medio Ambiente

XXVI Reunión del COFERMéxico DF 16 de Agosto de

2001Dr. Diego Masera Dr. Diego Masera Coordinador del Programa de Industria Coordinador del Programa de Industria para América Latina y el Caribepara América Latina y el Caribe

Page 2: El PNUMA y la Promoción de Energías Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes

Estructura de la Presentación

1.1. UNEP’s ApproachUNEP’s Approach

2.2. Investment Advisory Facility (IAF)Investment Advisory Facility (IAF)

3.3. Brazil Rural Energy Enterprise Brazil Rural Energy Enterprise Development Initiative (BREED)Development Initiative (BREED)

4.4. Sustainable Energy Advisory Facility Sustainable Energy Advisory Facility (SEAF)(SEAF)

5.5. MéxicoMéxico

Page 3: El PNUMA y la Promoción de Energías Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes

UNEP’s ApproachUNEP’s Approach

In the energy sectorIn the energy sector huge capital investments will be required in the huge capital investments will be required in the

coming decades to offer even modest modern coming decades to offer even modest modern energy services to the worlds’ poor.energy services to the worlds’ poor.

• UNEP’s energy sector response...UNEP’s energy sector response... places new emphasis on the finance sector, places new emphasis on the finance sector, helping it respond to opportunities for financing helping it respond to opportunities for financing

a cleaner energy future.a cleaner energy future.

Page 4: El PNUMA y la Promoción de Energías Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes

UNEP Finance InitiativesUNEP Finance Initiatives

UNEP targets financial decision makers to help UNEP targets financial decision makers to help them become more aware of investment them become more aware of investment opportunities in the sustainable energy opportunities in the sustainable energy

sector.sector.

• Statement by Banks and Insurers on the Statement by Banks and Insurers on the Environment and Sustainable DevelopmentEnvironment and Sustainable Development

• ‘‘Code of conduct’ promoting the integration of Code of conduct’ promoting the integration of environmental considerations into all aspects of environmental considerations into all aspects of operations and services.operations and services.– UNEP Financial Institutions InitiativeUNEP Financial Institutions Initiative

• 170 banks170 banks– UNEP Insurance Industry InitiativeUNEP Insurance Industry Initiative

• 85 insurers85 insurers

Page 5: El PNUMA y la Promoción de Energías Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes

Barriers to RE financeBarriers to RE finance

– higher real and/or perceived risk– absence of sound operational data– limited access to reliable technical

information– lack of in-house skills to

evaluate/negotiate projects– RE operating modalities may require

new financing norms– increased transaction costs with

initial investments

Page 6: El PNUMA y la Promoción de Energías Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes

UNEP RET/EE Investment Advisory UNEP RET/EE Investment Advisory Facility (IAF)Facility (IAF)

provides support to financial institutions provides support to financial institutions evaluating investments in specific Renewable evaluating investments in specific Renewable

Energy Technology /Energy Efficiency projectsEnergy Technology /Energy Efficiency projects

A Global Environment Facility supported initiative

• independent valuations• environmental risk

analysis

• market sizing for a manufacturing operation

• legal reviews• financial risk analysis

Example Services Eligible for SupportExample Services Eligible for Support

Page 7: El PNUMA y la Promoción de Energías Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes

Typical Loan Evaluation Typical Loan Evaluation ProcessProcess

Project Appraisal

Feasibility Study

InvestmentCommittee

Pre-feasibilityStudy

Bank Pre-Screening

Bank

Period of IAF Intervention

Page 8: El PNUMA y la Promoción de Energías Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes

IAF Projects, IAF Projects, Interventions to DateInterventions to Date

Bank / Financier Investment Description Expertise Provided

Inter-AmericanInvestment Corporation

20MW Small hydro peaking plant inGuatemala.

Third party review of engineeringdesign.

Dutch and German Dev.banks (FMO, DEG)

Sustainable forestry plantation adjacent toa salt mine in Tanzania. Wood requiredfor salt drying.

Evaluation of plantation investment,as part of mine refinancing.

RES Ltd. and PetroleumCorporation of Jamaica

20MW Wind farm in Jamaica Carbon valuation and sale.

European commercialbank

Biomass coffee waste cogen plant inCosta Rica

Project feasibility for carboninvestment fund development.

European commercialbank

District heating cogen plant in SlovakRepublic

Project feasibility for carboninvestment fund development.

International FinanceCorporation and PacificHydro

5 MW Geothermal power plant in Vanuatu Feasibility study completion + thirdparty review for governmentnegotiations.

International FinanceCorporation and twocommercial investors

50MW Merchant power wind farm inArgentina

Third party review of wind resourcedata and wind plant design.

PhilBIO 5 3 MW biogas plant in Philippines Carbon valuation and sale.

NewEn GmbH andGerman Dev. Bank(DEG)

20 MW Wind farm in Ghana Support for completion of powerpurchase agreement

Inter-AmericanDevelopment Bank (MIF)and FondElec

Latin American energy services fund(renewable energy and energy efficiencyESCOs)

Market sizing for fund pipelinedevelopment.

Page 9: El PNUMA y la Promoción de Energías Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes

IAF Interventions in ROLAC

• Jamaica: 20 MW windfarm • Guatemala: 20MW Small hydro plant• Costa Rica: Biomass coffee waste cogen

plant• Argentina: 50 MW windfarm• Latin American energy services fund

(Fondelec group).

Page 10: El PNUMA y la Promoción de Energías Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes

Latin American energy services fund

• FondElect with the Multilateral Investment Fund of the Interamerican Development Bank is exploring the feasibility of establishing a fund for RE, micro-generation and EE principally in Mexico and Brazil.

• The fund offers investors a vehicle to participate in the RE sector.

• The investment focuses on small and medium sized undercapitalized energy service companies.

Page 11: El PNUMA y la Promoción de Energías Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes

IAF Projects IAF Projects Carbon Carbon Investment FundInvestment Fund

Client: European commercial banking group

Projects: Assisted bank to develop pipeline of

investments for proposed carbon fund

1. Costa Rica: coffee processing waste recovery

2. Slovak Republic: Fuel switch - district heating plant

Support: i) technology evaluations, ii) economic and social

reviews, iii) environmental assessments

iv) CDM/JI assessment (UCCEE experts).

Outputs:– internal approval secured late 2000 to launch the fund– fund capitalisation underway

Page 12: El PNUMA y la Promoción de Energías Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes

IAF Projects,IAF Projects, Jamaican Windfarm

Client: project investors (wind energy financier RES Ltd. and Jamaican Petroleum Corp.)

Project: evaluated whether emission reduction credits could make an otherwise stalled 20 MW wind project viable

Support:– evaluation of the policy context and quantification of emission

reductions– securing and transacting emission reduction credits through

‘early actions’

Output:– negotiated $3.4mn carbon sale with WB Prototype Carbon

Fund

Page 13: El PNUMA y la Promoción de Energías Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes

Brazil Rural Energy Brazil Rural Energy Enterprise Development InitiativeEnterprise Development Initiative

(BREED)(BREED)

‘‘fostering renewable energy companies fostering renewable energy companies

that meet the needs of the rural poor’that meet the needs of the rural poor’

A UN Foundation supported initiative

• engages the private sector to provide distributed energy services based on clean and renewable energy technologies

• uses an approach that couples enterprise development ‘hand-holding’ with modest amounts of start-up financing

Page 14: El PNUMA y la Promoción de Energías Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes

Brazil Rural Energy Enterprise Brazil Rural Energy Enterprise Development InitiativeDevelopment Initiative

assisting local entrepreneurs to create assisting local entrepreneurs to create

sustainable energy service companiessustainable energy service companies

A practical approach to promoting energy for sustainable development – improve the provision of clean energy services– while building capacity of the private sector– to develop sustainable projects – which are ready for investment.

Page 15: El PNUMA y la Promoción de Energías Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes

BREED ConceptBREED Concept

EnterpriseEnterpriseEnterpriseEnterprise RuralRuralCLIENTSCLIENTS

RuralRuralCLIENTSCLIENTS

BREED SupportBREED Support

Start-upStart-upFinancingFinancing

EnterpriseEnterpriseDevelopmentDevelopmentServicesServices

EnergyServices

NGOs / Dev.NGOs / Dev.organisationsorganisations

Financial Financial InstitutionsInstitutions- 2nd stage financing- 2nd stage financing

BREED PartnersBREED Partners

Govn’tGovn’t

Page 16: El PNUMA y la Promoción de Energías Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes

BREED Deployment Strategy

BREED

PARTNERS

BREED

PARTNERS

ENTREPRENEURS

IdeaIdea

Fact-FindingFact-Finding

Feasibility Feasibility

Business PlanningBusiness Planning

ImplementationImplementation

ExpansionExpansion

Enterprise Development (E&Co managed)

EDS

Proposal

Business Plan

Seed $ and 2nd Stage $$

• Policy supportPolicy support for clean energy for clean energy service deliveryservice delivery

• Best practice Best practice stakeholder dialoguestakeholder dialogue

• RE concession RE concession program program developmentdevelopment

• EnterpriseEnterprise development development

POL I

CY

MAKERS

Institutional Support(UNEP/UCCEE managed)

Page 17: El PNUMA y la Promoción de Energías Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes

UNEP Sustainable Energy Advisory UNEP Sustainable Energy Advisory Facility Facility (SEAF)(SEAF)

provides support to financial institutions provides support to financial institutions evaluating investments in specific RET /EE evaluating investments in specific RET /EE

projectsprojects

A DANIDA supported initiative

• national and sectoral planning studies

• climate change mitigation analysis

• technology assessment and selection

• renewable energy or energy efficiency project assessment

• facilitation of links to funding agencies

Example Services Eligible for SupportExample Services Eligible for Support

Page 18: El PNUMA y la Promoción de Energías Renovables Programme des Nations Unies pour l’Environnement United Nations Environment Programme Programa das Naçoes

En México

• Buscar mecanismos innovativos para realizar proyectos de ER. Por ejemplo, utilizar financiamientos de donadores internacionales para canalizar fondos de instituciones financieras.