Sustainable Renewables Risk Mitigation Initiative (SRMI) Facility (Phase 2 Resilience focus) [SRMI-Resilience]

Even though renewable energy (RE) is now an economically viable option on par and often surpassing the return on investment compared to more traditional energy resources, the investment level towards RE resources in developing countries have remained at a standstill in recent years. In developing countries, a range of investment barriers such as the limited capacity of utilities for energy generation and transmission planning as well as challenges with grid integration prevent private sector investment inflow, making it difficult for these countries to transition towards more sustainable modes of electricity production.  SRMI-Resilience, the second phase of the SRMI Facility, aims to support the energy transition in nine developing countries by increasing access to affordable, reliable, modern, and sustainable electricity. The project will help these countries develop their energy transition programmes and uphold solid procurement processes needed to crowd-in private investments for future RE infrastructure. The project will serve as an example of how developing countries can level market disadvantages and bring in private sector financing into cleaner and more sustainable energy sources. Moreover, since each country has a unique set of market barriers that need to be overcome, this project will provide much needed knowledge about how the public and private sector can work together in challenging RE markets.