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Telling Our Story: Renewable Energy

Telling Our Story: Renewable Energy

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Published by IFC Sustainability
This issue shows how IFC helps increase access to energy while reducing emissions—supporting greater use of wind, solar, geothermal, hydro, biomass, and biogas power.
This issue shows how IFC helps increase access to energy while reducing emissions—supporting greater use of wind, solar, geothermal, hydro, biomass, and biogas power.

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Published by: IFC Sustainability on Aug 10, 2012
Copyright:Attribution Non-commercial

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11/09/2013

 
Telling Or Story: Renewale Energy
RENEWABLE
ENERGY
 
 Message from the Executive Vice President and CEO 
RenewableEnergyandtheFightagainst
Climate Change
Countries cannot develop without widespread access to reliable and aordableelectricity. In the ace o rising concern over global climate change, thechallenge is how to source this energy sustainably.Many o IFC’s client countries suer substantial power shortages. Thelimited electricity they have oten comes at an infated cost. To meet basichuman needs and enable economic growth, countries must increase theirpower generation capacity. Investing in renewable energy helps meet supply imbalances, while also addressing the challenges o global climate change, notonly or individual consumers, but also or the businesses that create jobs,
especiallymicro,small,andmediumenterprises.Simplyput,ithelpsthe
private sector succeed.Massive investment is needed in renewable energy in the coming decades toprovide or the needs o the emerging economies. With many governmentsacing scal constraints, public unding alone will not suce and the privatesector will have to provide most o the necessary investment. It comes asno surprise, thereore, that more emerging market countries are seeking to scaleup private sector renewable energy investment and are looking to IFC or help.In this environment o possibilities, IFC is stepping in to make a dierence where we are needed most, mobilizing our ull range o investment andadvisory services to oster and catalyze a change in the scale o private sector
involvementinrenewableenergyinemergingmarkets.Drivenbyourconcern
over global climate change, we are pulling together the necessary private
Cover:An industry force in its own country after just three years in operation, China WindPower Group is nowworking with IFC to take its expertise into new markets
(see p. 14)
.
 
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capital, technology, and management skills to help to nance countries’ transormation to a low-carbon development path. Our work spans the renewable energy spectrum, rom direct project-levelinvestment to support or equipment manuacturing and investing in unds. We are:
•Supportingthereductionincostofrenewableenergytechnologiesbyinvestingacross
 the manuacturing supply chains o wind and solar equipment
•Rankingasaleadinginvestorinnancingnewgeneratingcapacityofsolar,wind,biomass,
 geothermal, and hydro power
•Advisinggovernmentsoncreatingtherightregulatoryenvironmenttoencourage
 private sector investment in renewable energy development
•Developinginnovativemarkettransformationinitiativesthatincubatenewcommercial
 
productsandacceleratetheiruse,suchastheIFC/WorldBankLightingAfricaprogram
 
thathelpsmanufacturersdevelopclean,inexpensivelightingproductsusingLEDand
 
othertechnologiestoreplacecostlierkerosenelampsandcandlesinAfric•Supportinglocalindustrialcompaniesastheyinitiatetheirinvolvementwithrenewableenergy•Increasinglocalmarketinvestmentinrenewableenergybymakingfundsavailableto
 banks, equity und managers, and other intermediariesIFC’s direct investment in renewable energy increased rom $440 million between scal years2005-07 to $2.0 billion between scal years 2008-10. We are committed to continue increasing ourinvestments in the sector. Our projects have helped to power whole villages and light up schools andclinics, thus improving lives while helping oset greenhouse gas emissions.This collection o stories gives a glimpse o the impact o our commitment to increasing renewable
energydeploymentaroundtheworld.Astheworldseekstomitigateglobalclimatechange,IFCis
there to promote renewable energy development, giving people access to the modern energy servicesthey need to live, to thrive, and to succeed.Lars H. ThunellExecutive Vice President and CEO

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