Partnership Awarded $600,000 for clean energy deployment in colombia and vietnam

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10/20/2018

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P4G: Frank Walter, frank.walter@p4gpartnerships.org

PARTNERSHIP AWARDED $600,000 FOR CLEAN ENERGY DEPLOYMENT IN COLOMBIA AND VIETNAM

COPENHAGEN (October 20, 2018) — The Clean Energy Investment Accelerator (CEIA) has been awarded $600,000 from a global sustainability competition to scale up commercial and industrial clean energy deployment in Colombia and Vietnam, as announced today at the Copenhagen P4G Summit.

As more companies strive to power their global operations with significant amounts of renewable energy, improved electricity purchasing options are increasingly needed around the world. CEIA is an innovative public-private partnership initiative that works to unlock clean energy investment across commercial and industrial sectors through targeted engagement in key countries.

Jointly led by the U.S. Department of Energy’s National Renewable Energy Laboratory, Allotrope Partners, and World Resources Institute, CEIA supports commercial and industrial power purchasers with project evaluation and procurement models, identifies and catalyzes aggregated deals to improve project financing opportunities and costs, and engages with the public sector to strengthen policies for improved clean energy investment environments.

“While the world has recorded significant gains in renewable energy use, we have to remember that more than three quarters of all power generated in the world is not from renewable energy,” said Ian de Cruz, global director of Partnering for Green Growth and the Global Goals 2030 (P4G), the initiative that is providing the funding and support to the CEIA partnership. “CEIA has a very strategic approach to accelerating the growth of renewable energy, especially in developing countries such as Colombia and Vietnam.”

CEIA is one of six partnerships selected by P4G to receive scale-up funding in 2018 and part of the 24 partnerships P4G is funding and/or facilitating in 2018 following a global competition that attracted 450 submissions from 80 countries.

“We are pleased to partner with P4G to deepen our work on unlocking renewable energy investments by manufacturers and other large energy users, developing approaches and models that can be replicated in additional markets and support both companies and countries in meeting shared clean energy deployment targets,” says Bethany Speer, NREL Senior Researcher and CEIA co-lead. “Commercial and industrial leaders in Vietnam have ambitions to power their facilities and operations with clean energy,” says Mr. Nguyen Quang Vinh, General Secretary of Vietnam Chamber of Commerce and Industry. “To help address the increasing demand from companies for improved clean energy choices, we look forward to collaborating with CEIA to raise awareness about the cost-competitiveness and new procurement models for clean energy in Vietnam.”

Over 150 of the world’s largest corporations have committed to 100 percent renewable electricity in the years ahead, including Unilever, H&M, Apple, Nike, P&G, and Anheuser-Busch InBev. Hundreds more have committed to set Science-Based Targets for emissions reduction. CEIA is working with these companies, their supply chain partners, and local businesses to help meet sustainable development goals in key emerging markets across the globe, including Vietnam, Colombia, Mexico, Indonesia, and the Philippines.

About P4G

P4G – Partnering for Green Growth and the Global Goals 2030 – is a new initiative with the ambition of becoming the world’s leading forum for developing concrete public-private partnerships at scale to deliver on the SDGs and the Paris Climate Agreement. The government of Denmark is providing USD 37 million in initial funding for P4G from 2018-2022. Besides the partner countries, non-profit organizations such as the Global Green Growth Institute, C40 Cities, World Economic Forum, and the World Resources Institute (which hosts the P4G Global Hub) are also P4G partners.