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SREP Calls for Proposals that Engage the Private Sector in Low Carbon Investment

Climate Investment Funds19 April 2013: The Program for Scaling Up Renewable Energy in Low Income Countries (SREP) of the Climate Investment Funds (CIF) is calling for proposals from Multilateral Development Banks (MDBs) and pilot countries to initiate the development of concept proposals for programmes and projects to engage the private sector in the expansion of renewable energy and energy access.

SREP agreed in October 2012 to set aside US$90 million, to be allocated under a competitive basis, to private sector clients working through MDBs or public sector entities that would in turn channel all funds to private sector recipients via innovative and result-oriented approach.

To be eligible, proposals must be located in one of the six SREP pilot countries, namely Ethiopia, Honduras, Kenya, Maldives, Mali and Nepal, and be aligned with principles and objectives of their Investment Plans. Moreover, proposals must demonstrate high levels of innovation-based on tested technology, private sector engagement, and past successful experience in other projects under the endorsed Investment Plan.

The deadline for submissions is 15 August 2013. Interested candidates should contact MDB focal points from the pilot countries. The Sub-Committee under SREP will select the first round of proposals by November 2013. [CIF Press Release] [Procedures for Allocating SREP Resources on a Competitive Basis From a Set Aside]