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Europe and Central Aia - Strategic Partnership for the Development of Geothermal Energy (English)

This paper describes the proposed Strategic Partnership for Geothermal Energy Development between the World Bank and the Global Environment Facility (GEF). This Partnership is designed to systematically promote the use of geothermal energy in the Europe and Central Asia (ECA) Region. It will consist of two mechanisms: (a) technical assistance and capacity building through a World Bank-GEF Geothermal Energy Development Fund (GeoFund); and (b) investment mechanisms to help finance geothermal energy projects in participating countries. Following an introduction about the barriers to geothermal resource development, the paper details the Partnership and the implementation of the GeoFund. Approval of the GeoFund is expected to give a strong signal to potential participants that technical assistance will become available, that partial risk guarantees can be supplied to geothermal investments, and that some contingent grant or low-cost loan funding might also be made available for such investments. It is also expected that private sector interest and action will be catalyzed through the presence of the Partnership. Moreover, access to these funds in the middle and long term will give leverage to environmental governmental bodies, local governments, and investors into sustainable energy resources in their efforts to cooperate with their respective ministries of finance in implementing renewable energy projects. This should assist in promoting renewable energy use to a higher rank in national priorities and foster cooperation among countries to build expertise and reduce transaction costs.

Details

  • Document Date

    2003/01/01

  • Document Type

    GEF Project Brief

  • Report Number

    26135

  • Volume No

    1

  • Total Volume(s)

    1

  • Country

    Europe and Central Asia,

  • Region

    Europe and Central Asia,

  • Disclosure Date

    2010/07/01

  • Doc Name

    Europe and Central Aia - Strategic Partnership for the Development of Geothermal Energy

  • Keywords

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Citation

Europe and Central Aia - Strategic Partnership for the Development of Geothermal Energy (English). Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/405381468752073859/Europe-and-Central-Aia-Strategic-Partnership-for-the-Development-of-Geothermal-Energy