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OAS WILL ADMINISTER SEVEN NEW PROJECTS IN LATIN AMERICA FUNDED BY THE RENEWABLE ENERGY AND ENERGY EFFICIENCY PARTNERSHIP (REEEP)

The Department of Sustainable Development of the Organization of American States (OAS) will administer seven of the 49 new projects that the Renewable Energy and Energy Efficiency Partnership (REEEP) announced recently it will fund.

The projects are designed to give impulse to the uptake of renewables and energy efficiency globally. This is REEEP’s seventh funding round, and the largest ever with 4.7 million euros (around 6.4 million dollars). In Latin America, REEEP is providing almost 650,000 euros (nearly 850,000 dollars) for seven projects to be implemented in Brazil and Mexico.

“The REEEP is one of the ‘unsung’ vehicles of sustainable energy development in the Americas, through which direct and tangible support has been provided to communities and actors in meeting their energy needs. From this standpoint the REEEP is worthy of continued support from the donor community,” said Cletus Springer, Director of the OAS Department of Sustainable Development.

“REEEP is a model for global sustainable energy dialogue and has been effective at supporting Latin America and the Caribbean Region through innovative program development grants. It also serves as a model for the region as it moves toward formalizing a hemispheric energy and climate partnership,” said Mark Lambrides, head of the Division of Energy and Climate Change Mitigation of the OAS Department of Sustainable Development.

Five of the projects to be funded in Latin America will be implemented in Brazil, one of them in co-operation with Mozambique, and two in Mexico. The projects cover a wide array of issues such as preparing legislative framework fro renewable energies, promoting local biogas or creating a cap and trade market for the auto industry.

“REEEP projects concentrate on the two areas where small-scale interventions can have a huge knock-on effect: in helping establish clear regulatory and policy frameworks for renewables and energy efficiency, and in creating finance and business models to attract private players to these sectors,” says Dr. Marianne Osterkorn, REEEP’s Director General . “Given the financial crisis, this year’s roster is weighted slightly towards the policy side, but even so, we also have some very interesting financial projects in the mix.”

The goal of REEEP is to accelerate the global market for sustainable energy by acting as an international and regional enabler, multiplier and catalyst to change and develop sustainable energy systems. Since its creation in 2004, REEEP has provided more than 11 million euros (nearly 15 million dollars) to fund efforts in the field of renewable energy and energy efficiency.

Reference: E-174/09