Renewable Energy Scale Up Program (CRESP), Phase 1

CRESP is a pilot for the World Bank-GEF Strategic Partnership for Renewables. It takes a programmatic approach to secure long-term structural change. The main global benefits of the project are (a) the removal of multiple barriers to the introduction of cost-effective renewables in China; (b) the reduction in cost and improvement in performance of small hydro, wind and selected biomass technologies; and (c) an increased market penetration of renewables in China and consequent reduction in greenhouse gas emissions from power generation. It is estimated that by 2010, the scale up will result in an incremental annual production of electricity from renewable sources of 38 TWh, equivalent to about 7.9 GW of installed capacity. The carbon savings of the project are estimated at 187 MtC.