REEEP to give 3 mln euros for energy efficiency projects

New Delhi, Mar 8 (UNI) The Renewable Energy and Energy Efficiency Partnership (REEEP) has announced the availability of three million Euros for projects supporting the development of markets for renewable energy and energy efficiency.

It has put forward an open tender seeking projects from priority countries--China, India and Brazil-- and from across the developing world.

The REEEP projects are meant specifically for emerging market economies like India. REEEP has previously disbursed 2.2 million euros in 2006 and 1.1 million euros in 2005.

The partnership has received funding from a consortium comprising Ireland, Italy, New Zealand, Norway and the United Kingdom.

Norway, the new major donor of REEEP, and the United Kingdom will be pooling funds allowing for larger investments into projects; Ireland and Italy will continue their focus on Africa, while New Zealand will bring small island states in the Pacific into focus.

REEEP is inviting countries with specific legislative or regulatory for financing business models involving low and efficient use of energy.

It is hoped that by assisting governments in lowering risk within the renewables and energy efficiency sector and working with development agencies to encourage business and finance models, finance can be attracted into new markets.

The project call will be seeking bidders for the production of a REEEP report on energy efficiency in order to accurately portray the benefits and role that efficiency can play in improving energy security, lowering carbon emissions, and enhancing industrial competitiveness.

Dr Marianne Osterkorn, REEEP International Director said the partnership can now add value across a number of areas.

Dr R K Pachauri, Director-General of TERI, said, ''We look forward to this initiative for identifying projects that make a real difference in the context of sustainable development in South Asia, while offering opportunities for offsetting carbon''.

UNI