Most Fortune 100 companies have renewable energy procurement goals, but for multinational corporations with global supply chains, successfully securing clean energy is a serious challenge. In emerging economies such as Colombia, Indonesia and Vietnam the legal and market structures do not yet enable widespread on-grid procurement of dedicated renewable energy.
The Clean Energy Investment Accelerator (CEIA) Partnership focuses on three pillars for mobilizing and increasing access to clean energy investment at scale: purchasers, pipeline, and policies. CEIA supports Commercial and Industrial power purchasers to procure from clean energy providers, improves project economics through aggregation of multiple companies demand to grow the clean energy project pipeline, and engages with the public sector to strengthen policies that encourage clean energy investment. These activities help companies meet their clean energy targets, while also helping governments to understand how to reliably and affordably increase their renewable energy supply, thereby underpinning progress towards national and multinational sustainable development goals. With P4G support in 2018, CEIA led Colombia’s first aggregated on-site solar procurement process for industrial users. The effort brought together seven industrial companies with demand for up to 10 MW of solar power and demonstrated more than 20% cost savings through the aggregated approach. In Vietnam, CEIA supported a new rooftop solar installation for a major industrial park.
With additional P4G funding, and building on its existing work in Colombia and Vietnam, the partnership will expand its on-site and offsite renewable energy procurement models in Colombia and build private sector demand for renewable energy in Indonesia. In Colombia, CEIA has identified 26 companies with demand for more than 190 MW of renewable energy. It also will expand operations in Indonesia, working to demonstrate demand for renewable energy from the business sector and improve the enabling policy market environment that will unlock clean energy procurement pathways. CEIA has an overall goal to mobilize more than $250 million for advanced clean energy projects globally.
Allotrope Partners, National Renewable Energy Laboratory, World Resources Institute