PRESS RELEASE | May 11, 2023
Brussels, Belgium - May 11, 2023 – The Global Renewable Energy Mass Adoption Programme (GREENMAP) and the International Renewable Energy Agency (IRENA) signed a Memorandum of Understanding to collaborate in supporting developing countries in their transition to a sustainable energy future.
On the 11th of May, Mr Francesco La Camera IRENA’s Director-General and Mr Mauro G. Soares, GREENMAP’s COO and Co-founder signed the MoU in representation of both entities.
The MoU is aimed at collaborating to scale up renewable energy in the Global South with the main goals being:
- To share knowledge within IRENA Collaborative Framework on Project Facilitation aimed at accelerating the global energy transformation;
- To collaborate in Investment Forums which aim to leverage both the ability of decision-makers and financiers to support robust enabling environments for energy transition investments and the capacity of developers to prepare bankable projects and access to sustainable finance;
- To conduct capacity-building activities related to clean energy investment, project finance, risk reduction and Open Solar Contracts to streamline project development and finance processes for solar PV projects;
- To share knowledge on best practices and case studies to increase projects’ bankability and financing; and
- To explore collaboration over joint outreach and knowledge events to promote clean energy investments.
Both entities recognise the importance of working closely together to scale up cheaper and faster renewable energy deployment in emerging and developing economies to facilitate their just energy transition and improve access to clean energy for their people.
“This agreement marks a significant step towards achieving a sustainable future for the nations we work with and is a crucial boost to our mission”, said Mauro Soares, GREENMAP’s COO and Co-founder. “We appreciate IRENA's trust in our team and we are excited about deepening the collaboration going forward,” he added.
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.
We focus on implementation to facilitate bankability, foster competition, and boost the local and foreign investments needed to materialise project installations, local economic and social development, and the reduction of GHG emissions.