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RENEWABLE ENERGY MARKET TRANSFORMATION PROJECT

RENEWABLE ENERGY MARKET TRANSFORMATION PROJECT. WHAT IS REMT?. The Renewable Energy Market Transformation (REMT) Project is a market transformation (barrier removal) project funded by the Global Environment Facility (GEF) through the World Bank.

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RENEWABLE ENERGY MARKET TRANSFORMATION PROJECT

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  1. RENEWABLE ENERGY MARKET TRANSFORMATION PROJECT

  2. WHAT IS REMT? • The Renewable Energy Market Transformation (REMT) Project is a market transformation (barrier removal) project funded by the Global Environment Facility (GEF) through the World Bank. • It has an overall cost of US$17.3 million, being funded by a; • US$6 million grant from the Global Environment Facility (GEF) • US$2.3 million contribution from the South African government • US$9 million leveraged from the private sector mainly for the CSWH sub-project. • Project a Government initiative through the Department of Minerals and Energy (DME) implemented by the Development Bank of Southern Africa (DBSA).

  3. BACKGROUND • The government has committed South Africa to reducing the country’s GHG emissions. • The government’s White Paper on Renewable Energy (2003) sets the following target for renewable energy: • 10 000 GWh (0.8 Mtoe) renewable energy contribution to final energy consumption by 2013, to be produced mainly from biomass, wind, solar & small-scale hydro. The renewable energy is to be utilised for power generation and non-electric technologies such as solar water heating and bio-fuels. • Years of negotiations between Government and the World Bank resulted in the REMT project.

  4. PROJECT OBJECTIVES • The project's objective over a four-year period, in line with GEF Operational Program No. 6, is to remove the barriers and reduce implementation costs of renewable energy technologies to help mitigate greenhouse gas (GHG) emissions and to promote on-grid electricity from renewable sources. . • This project aims to assist the government in meeting 2013 renewable energy target through establishing policy and regulatory frameworks and providing technical assistance & building institutional capacity for; • Renewable Energy Power Generation (REPG) and • Commercial Solar Water Heating (CSWH)

  5. REPG SUB-PROJECT OBJECTIVES • Supporting DME and NERSA to develop a legal, policy, and regulatory framework for renewable energy; Developing detailed financing mechanisms for covering the incremental cost between renewable and conventional energy;Developing public and private sector institutional capacity for renewable energy investments.Developing resource information and dissemination of renewable energy related information; andProvision of Matching Grants to strengthen the capacity of the private sector to implement renewable energy Subprojects, and development of a “help desk”, including: (i) facilitating activities for renewable energy investments; (ii) preparing pre-feasibility studies for renewable energy investments; and (iii) facilitating activities for promotion of off-grid renewable energy.

  6. CSWH SUB-PROJECT OBJECTIVES • Carrying out activities to support the development of the solar water heating industry to international best practice levels through technical assistance in developing standards and codes for CSWH, promotion campaigns, and training. • Provision of Matching Grants and Performance Grants to Eligible Beneficiaries, to establish a program for small and medium size private enterprises to design and implement CSWH Subprojects to: (i) develop CSWH business development activities; (ii) improve performance in installation of systems; and (iii) meet the requirements for a code of conduct for use of best practice in designs, equipment and installation, transparent and credible practices in dealing with consumers. • This sub-component will establish a “participating CSWH company program”, which will assist the companies in a variety of ways on an as-needed basis.

  7. KEY STAKEHOLDERS • The DME is responsible for implementing this project and has designated the Development Bank of Southern Africa (DBSA) as the implementing agent. • The DBSA established an Implementing Support Unit (ISU) to manage day-to-day activities during the four years of the REMT project implementation. The ISU will be responsible for carrying out the various project activities—that is, the policy and institutional framework, capacity building, and implementation activities, handling quality assurance and progress reporting, administering the performance grants for CSWH subprojects and the matching grants for renewable energy and CSWH capacity-building activities. • The private sector will be responsible for implementing all the investments supported under this project. • The GEF is an international financial mechanism with 176 member countries that addresses global environmental issues while supporting national sustainable development initiatives. The key role of GEF in this project is to provide grant co-financing TA that would jumpstart the move towards the 10,000 GWh target by removing the main barriers. GEF will not finance the renewable energy investments itself.

  8. ISU CONTACT DETAILS Business Development Specialist Mr. Moses Chundu Mob; 073 116 0693 Email; mbchundu@yahoo.com Project Coordinator Mr. Yaw- Afrane Okese Mob; 084 564 2965 International Business Gateway Cnr Lever Rd/New Rd Midrand THANK YOU

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