Non-profit Greenmap and the Latin American Energy Organisation OLADE are partnering to support LAC governments to develop renewable energy programmes.
The Latin American and Caribbean (LAC) regions offer considerable potential to develop renewable energies, particularly wind and solar alongside the existing hydro and thermal capacity.
Greenmap – the Global Renewable Energy Mass Adoption Programme – which was founded by the team responsible for Argentina’s RenovAr renewables programme, will assist governments in the design and implementation of technical, legal and financial instruments to enhance renewable energy procurement programmes.
Greenmap will especially work on credit enhancement and derisking tools to improve market attractiveness for local and global investors, foster competition and reduce the costs of generating renewable energy.
OLADE will support countries in conducting feasibility studies and renewable projects identification, and other due diligence documentation related to the programmes to be implemented. OLADE also will facilitate relevant information to potential investors in projects in LAC countries interested in implementing renewable energy programmes.
The agreement follows two earlier partnerships recently established by Greenmap as it fast grows its global reach. The first with the RE Energy Africa forum is aimed to accelerate clean energy and electrification in Africa. That with the Rocky Mountain Institute is focussed on support for developing countries globally.
Work has already started with a focus on opportunities in the Caribbean and sub-Saharan Africa looking at solutions for both utility-scale and distributed resources, according to a statement.
GREENMAP is currently funded by the Climate Breakthrough Project, an initiative of the David & Lucile Packard Foundation in partnership with Oak Foundation, Good Energies Foundation and Ikea Foundation.