Energy Efficiency

The project, which is a component of Renewable Energy II, will help overcome the barriers to private investment in energy efficiency by catalyzing, supporting and funding private energy efficiency service companies (ESCOs) and directly financing end-user energy efficiency investments. The GEF grant will: (I) develop IREDA’s capacity to identify, appraise and finance ESCOs and end-user defined energy efficiency investments; (ii) test the performance of different energy efficiency projects and ESCO financing modalities; and (iii) disseminate information on the benefits and risks of energy efficiency investments. Associated World Bank and local counterpart financing will directly fund energy efficiency investments that will avoid over 750,000 tonnes of carbon emissions and catalyze investments that could avoid over 6 million tonnes of emissions.