Euro One Million Available for RE Projects

[RenewableEnergyAccess.com] The Renewable Energy and Energy Efficiency Partnership (REEEP) is to make Euro 1 million (US$ 1.3 million) available to fund renewable energy projects internationally. REEEP, established by the UK government in 2002 to drive the integration of renewable and energy efficient systems (REES) into national and global energy policy, is seeking project proposals for its third funding round, for the period 1 April 2005 to 31 March 2006. REEEP’s priority for this funding round will be projects that either use innovative financing mechanisms to catalyse the uptake of REES, or contribute to a supportive regulative and legal environment. Due to the specific structure of REES projects, which often focus on small scale and off-grid generation, it is vital to leverage the limited resources available, and encourage policy and regulation that overcome market barriers or the perception of risk in new energy markets. REEEP currently funds over 40 REES projects worldwide. The total volume of this projects call is around £1 million and will be available from 1 April 2005. REEEP expects to fund about 15 projects with an average REEEP contribution of Euro 70,000 (US$ 91 million). The funds have been made available by the UK Government (FCO Global Opportunities Fund Climate Change and Energy Program).

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