RE Partnership Lands UK Funding Boost

London, United Kingdom [RenewableEnergyAccess.com] The Renewable Energy and Energy Efficiency Partnership (REEEP) received formal commitment from the UK Government of a GBP 2.5 million (USD $4.8 million) contribution for the REEEP’s 2005-6 financial year. The announcement was made by Margaret Beckett, UK Secretary of State for Environment, Food and Rural Affairs at the COP10 conference in Buenos Aires. This more than doubles the current funding of the partnership.

REEEP brings together governments, business and other stakeholders with the aim of fostering international collaboration to address market barriers and accelerate the market growth of modern renewable and energy efficiency technologies and make them affordable energy options. The REEEP is funded by seven countries – Austria, Ireland, Italy, the Netherlands, Spain, the United Kingdom and the United States – and also the European Commission. The increased funding from the United Kingdom is the single largest funding commitment in REEEP’s two year history. Twenty-two countries have signed REEEP’s mission statement and are formal partners. The contribution is expected to drive additional funding into the partnership. Currently the REEEP is seeking project proposals for GBP 1 million to augment the partnership’s ongoing 40 clean energy projects. The new funding will allow for many more projects to be funded next year. “We need to make sustainable energy a rational economic choice for investors across the globe. This will be the central focus for the UK’s presidency of both the G8 and EU in 2005,” Beckett said. “Sustainable energy choices must be at the heart of the global effort to limit climate change. I firmly believe that REEEP has an important role to play.” The announcement came as REEEP’s governing board met in the margins of COP10 in Buenos Aries to approve REEEP’s strategy for the next three years. “I believe that this will enable us to increase substantially the impact that REEEP will have in developing global markets for renewable energy and energy efficiency over the coming years,” said Marianne Osterkorn, REEEP International Director.