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    GEF Grant to Tackle Brazil’s Barriers to Energy Efficiency

    By Keith R | June 28, 2007

    Topics: Energy Efficiency | No Comments »

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    Temas Note: The GEF press release does not say so, but the executing agencies for this grant will be the Inter-American Development Bank (IDB) and the UN Development Programme (UNDP). It also does not make clear that a major focus of the seven-year program is making public buildings energy efficient, with a view to cutting energy consumption by the public sector and reducing Brazil’s greenhouse gas emissions in the process.

    From the Global Environment Facility (GEF):

    Going to Market: New GEF Project Takes Aim at Barriers Impeding Energy Efficiency in Brazil

    A new, $13.5 million project approved today by the Global Environment Facility (GEF) Council will help Brazil to consolidate hard-won gains in energy efficiency, and eliminate technical, financial, and policy-related barriers that are impeding the use of energy-efficient (EE) technologies in buildings.

    “Brazil is widely acknowledged as a world leader in promoting energy-efficiency projects designed to mitigate climate change,” said Monique Barbut, GEF CEO. “The GEF is proud to strengthen its partnership with Brazil and help the market for energy-efficient technologies to grow exponentially.”

    Brazil, like many nations across Latin America, is one of the world’s most rapidly urbanizing countries. It is already a world leader in the production of ethanol, and the newly-approved project will help to further consolidate Brazilian gains in disseminating energy-efficient technologies in the fast-growing building industry.

    Conservative estimates show that Brazil stands to save 5.6 million mega watt hours (MWh) of electricity, and achieve cumulative greenhouse gas (GHG) emission reduction of 9.5 million tons of carbon equivalent over 20 years.

    Barriers to be tackled

    The project includes an innovative Partial Performance Guarantee Mechanism (PPGM), designed to substantially mitigate the performance risk aspects of ESCO project financing, thereby addressing lenders risk concerns while adding credibility to ESCO guarantees that are provided to customers.

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