A new agreement launches a partnership to support governments in the Philippines, Indonesia and Vietnam to accelerate the energy transition in line with the 2030 Agenda and Paris Agreement.
PRESS RELEASE | November 11, 2022
A Memorandum of Understanding (MoU) signed between GREENMAP and the Southeast Asia Energy Transition Partnership (ETP) at COP27 in Egypt last week launches collaboration to support governments in the region to unlock investments in renewable energy.
“This is a huge opportunity. We look forward to working together with governments and providing them independent, specialised support for the design and implementation of wellstructured, transparent renewable energy procurement programs in the region”, said Sebastian Kind, GREENMAP Chairman and CEO.
This MoU sets a framework for strategic cooperation on initiatives of mutual interest, including:
- building relationships to help governments make informed decisions based on innovative tools and analytics for successful renewable energy auction design and implementation.
- developing policy frameworks, de-risking solutions and credit-enhancement tools to attract investments, foster competition, and lower the costs of renewable energy.
- supporting the implementation of the national renewable energy program through digital tools and guarantees.
“This agreement is very much focused on providing specialised expertise and concrete tools appositely designed for governments to make informed decisions and de-risk national programs to attract investments in renewables at scale. Accelerating the energy transition in these countries is crucial, with multiple potential benefits for the countries and climate change mitigation globally,” concluded Kind.
The two organisations have worked together on energy market mechanism acceleration in Southeast Asia.“The MoU with GREENMAP boosts our current collaboration on optimising market mechanisms to the next level in de-risking renewable energy investments, including in-country workshops, diagnostics, exposure to global experience, and concrete action planning,” said Sirpa Jarvenpaa, Director for Southeast Asia Energy Transition Partnership.
Both organisations recognise the importance of working closely with governments to attract renewable energy investments in developing countries while lowering the cost of finance through well-designed public auctions and their successful implementation.
“Collaboration and partnerships are at the core of ETP’s mandate. We welcome GREENMAP’s value addition as it brings global and particularly South American experience to Southeast Asia. South-South cooperation is essential in taking policy alignment and de-risking energy transition forward to unleash the promise of energy transition for the people in the Region”, concluded Sirpa.
GREENMAP stands for Global Renewable Energy Mass Adoption Program and is an impact-driven and independent non-profit organisation.
GREENMAP focuses on accelerating the deployment of renewable generation in developing economies by directly supporting governments in the design and implementation of stable regulatory frameworks, competitive procurement processes, and new financial and credit enhancement tools, including program-based guarantees.
The Southeast Asia Energy Transition Partnership (ETP) is a multi-donor partnership formed by governmental and philanthropic partners to accelerate sustainable energy transition in Southeast Asia in line with the Paris Agreement and Sustainable Development Goals.
We empower our partner countries - Indonesia, Vietnam and the Philippines to transition towards a sustainable energy system, generate economic growth and ensure energy security.