PRESS RELEASE | October 15, 2021
We are excited to announce that Greenmap (Global Renewable Energy Mass Adoption Program) and Clime Capital, manager of the Southeast Asia Clean Energy Facility (SEACEF), have signed a collaboration agreement under which both organizations will work together to advance renewable energy adoption at a faster pace and scale in the Southeast Asian region.
Over the last two decades, Southeast Asia has been among the regions with the fastest-growing energy demand, which has been met mainly through carbon-intensive technologies. Given the urgent need to speed up a clean energy transition, ASEAN energy ministers agreed to set a regional renewable energy (RE) target of 23% share of the total primary energy supply and 35% share of the total installed power capacity by 2025. Achieving these goals would require around 35-40 GW of new RE capacity to be added by 2025.
Greenmap will provide technical assistance, analysis and capacity building activities to help governments understand the best RE policies and most effective de-risking and credit-enhancement solutions to attract investments, foster competition and lower the costs of RE generation, while reducing GHG emissions at the necessary scale.
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 to 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 both design and implementation, working hand in hand with committed governments. 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), the European Climate Foundation and Quadrature Climate Foundation.
About Clime Capital and SEACEF
Clime Capital is a Singapore-based renewable energy fund who manages the SEACEF (Southeast Asia Clean Energy Facility), a collaboration between leading international foundations to accelerate the low carbon transition in Southeast Asia. In partnership with clean energy pioneers, governments, global philanthropic organizations, development financial institutions, NGOs and other local stakeholders, SEACEF aims to direct early-stage development capital investment into innovative, high-impact clean energy projects and businesses in critical Southeast Asian markets.
More information on Clime Capital can be found at climecap.com.
More information on SEACEF can be found at seacef.org.