PRESS RELEASE | October 5, 2020
We are excited to announce that GREENMAP and the Latin American Energy Organization (OLADE) have just signed a cooperation agreement to jointly support governments of OLADE ́s 27 Member Countries in LAC to design and implement innovative programs to develop renewable energy (RE).
The LAC region represents a great opportunity to develop renewable energy considering the high-quality renewable resources present in most of its countries, the existing hydro-thermal installed capacity serving as backup for new RE capacity, and the urgency of mitigating the adverse consequences of climate change on their communities.
GREENMAP will assist governments in the design and implementation of technical, legal and financial instruments to enhance existing and/or planned renewable energy procurement programs. GREENMAP will especially work on credit-enhancement and de-risking tools to improve market attractiveness for local and global investors, foster competition, and reduce the costs of generating renewable energy.
OLADE will support countries in conducting feasibility studies and renewable projects identification, and other due diligence documentation related to the projects and/or programs to be implemented, as well as facilitating relevant information to potential investors in projects in LAC countries interested in implementing renewable energy programs.
GREENMAP stands for Global Renewable Energy Mass Adoption Program. We are an impact-driven and independent non-profit organization created to accelerate deployment of renewable generation in developing economies. GREENMAP’s strategy is to support governments of developing countries design and implement stable regulatory frameworks and new financial schemes to develop their renewable energy sectors and boost the reduction of their GHG emissions. We focus on implementation. GREENMAP is currently funded by the Climate Breakthrough Project, an initiative of the David & Lucile Packard Foundation in partnership with Oak Foundation, Good Energies Foundation and Ikea Foundation.
About the Latin American Energy Organization (OLADE)
OLADE is a public intergovernmental cooperation, coordination and technical advisory body, constituted in November of 1973, whose fundamental objective is promoting integration, sustainable development and energy security of the Region, supporting and promoting cooperation among its 27 Member Countries.