German academy bids to lift renewable energy funding in AsiaPacific

renewable energy
The RENAC, ADFIAP partnership programme will start with Capacity Needs Assessment in the five member countries to develop operational schedules.

In Germany, the Renewables Academy AG (RENAC) announced its partnership with the Association of Development Financing Institutions in Asia and Pacific (ADFIAP) on Wednesday.

According to a press statement, the partnership aims to increase the availability of renewable energy and energy efficiency projects’ financing instruments in India, Philippines, Vietnam, Thailand and Indonesia.

Through the partnership’s three year programme Green Banking-Capacity Building for Development and Commercial Banks on Climate Finance, local smart energy and grids professionals in the private and public sector, will gain specific knowledge in technologies, financial schemes, risk evaluation, mitigation and access to international climate funds.

The programme will stage Business-to-Business (B2B) meetings in Germany, a Train-the-Trainer seminar at RENAC’s Training Centre in Berlin to build up local trainers, trainings in the partner countries, internet-based trainings, and the launching of a new degree ‘Green Finance Specialist’.

However, the programme will start with a Capacity Needs Assessment in the five member countries to develop operational schedules.

The project is part of the International Climate Initiative (ICI) with the support of the German Federal Ministry for the Environment, Nature Conservation, Building and Nuclear Safety (BMUB).

RENAC has been providing training and capacity building in renewable energy and energy efficiency since 2008 with over 6,000 participants from 145 countries.

Smart Energy in the Asia Pacific

The development follows the release of a renewable energy market outlook by Bloomberg New Energy Finance during the Q1 of 2015.

The report predicted that by 2030, nearly half of installed power capacity in the Asia Pacific region will be from renewable energy sources.

The study stated that within the next 15 years, Asia Pacific will add as much power capacity as the rest of the world combined with renewables attracting two-thirds of investment or an average of US$252bn a year.

The global energy analysts reported that onshore wind and solar PV are reaching parity levels with consumer costs.

At the best wind sites, the levelised cost of electricity (LCOE) can be as low as $67-76/MWh in countries such as China, India and Australia compared with gas at $61-94/MWh.

Delving deeper into the forecast for PV in Asia-Pacific, the report said the market is split almost equally between rooftop (53%) and utility-scale (47%) capacity.