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MEDREP Finance. Mediterranean Renewable Energy Program MEDREP Jan Kappen Project Manager, Energy Finance UNEP-DTIE www.uneptie.org/energy/finance jan.kappen@unep.fr. MEDREP Finance. MEDREP Finance A WSSD Type II Initiative

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medrep finance

MEDREP Finance

Mediterranean Renewable Energy Program

MEDREP

Jan Kappen

Project Manager, Energy Finance

UNEP-DTIE

www.uneptie.org/energy/finance

jan.kappen@unep.fr

medrep finance2
MEDREP Finance

MEDREP FinanceA WSSD Type II Initiative

Sponsored by theItalian Ministry for Environment and Territoryfor the

Mediterranean Basin

medrep finance key objectives
MEDREP Finance - Key Objectives

OBJECTIVES

  • Investigate different approaches for positively influencing financial flows to RE projects
  • Structure support mechanisms that help lenders and investors scale up financing

OUTPUTS

  • Assessment of barriers to RE financing
  • Opportunities for development of RE projects in the 3 countries
  • Solar Water Heating Loan and Leasing Facilities to facilitate access to credit in Tunisia and Morocco
  • Transaction Support Facility for the entire region
solar water heating swh loan facility in tunisia what it is

Solar Water Heating (SWH) Loan Facility in Tunisia – What it is

  • The SWH Loan Facility is a finance mechanism:
    • to createcredit facilities using the state utility,
    • STEG as a channel for recovering the loan payments
    • through the utility bill;
    • to help local banks build loan portfolios in RE area
    • by implementing an interest rate subsidy
    • to provide to the end user a capital cost subsidy to
    • partially reduce the SWH financing (Tunisian
    • government has passed a law to provide 20% subsidy)
solar water heating loan facility in tunisia how it works
Solar Water Heating Loan Facility in Tunisia - How it works

UNEP and ANME establish a 2 million US$ Facility

  • STEG will promote the use of SWH by recovering the loan via a STEG customer’s utility bill
  • Banks provide loans to the end users via the SWH suppliers by lowering the interest rates by 5-6 points because the risk of nonpayment is almost non-existent
  • The end user repay his loan via the STEG utility bill over 5 years to make the monthly payments equal to other conventional energy expenditures
  • UNEP provides an Interest Rate Subsidy decreasing over time
solar water heating loan facility in tunisia what it does
Buy CHEAP and Pay SLOWLY

SWH Size 200 liters 300 liters

Net Cost of SWH USD 550 USD 700

Monthly payment (5 yrs) USD 9 USD 11.50

A Quick and Simplified Procedure

Customer contacts the SWH supplier

Customer fills out the application form at the SWH supplier office, presents his latest STEG bill and ID

The installation is immediate once the application form and engagement form are signed

Solar Water Heating Loan Facility in Tunisia - What it does
solar water heating loan facility in tunisia objectives
Solar Water Heating Loan Facility in Tunisia - Objectives

The objectives of this project

  • In 2005, installation of 29 000 m², equivalent to 8,800 households
  • By 2011, 222 000 m² will be installed
  • Over 2005-2011, the Tunisian government would have transferred approx. 15 millions USD from LPG subsidy to a solar subsidy
  • The development of the SWH market will become sustainable
medrep finance8
MEDREP Finance

Thank you for your attention