Unlocking clean energy investments in Small Island Developing States
The Climate Investment Platform (CIP) has launched a call for proposals to unlock investments in projects that advance climate action and energy security in Small Island Developing States (SIDS). The selected projects will help fund clean energy opportunities in the island nations—who are among the most vulnerable to climate change—through public sector entities and public-private partnerships.
Small Island Developing States (SIDS) have demonstrated their firm commitment to transitioning to clean energy, as reflected in their first round of Nationally Determined Contributions (NDCs) under the Paris Agreement. However, many SIDS are still heavily reliant on imported fossil fuels for energy generation. This vulnerability presents both near-term and chronic challenges in providing reliable, affordable, equitable, and sustainable energy services to people living in SIDS.
The CIP operates between the climate finance supply and the demand from countries, by providing a comprehensive overview of what is available in terms of climate finance, eligibility criteria, funding amounts and timelines and procedures for accessing them. For this request for projects, the partners will allocate technical assistance to project preparation activities in the initial stages of the project development cycle, including enhancing project concept notes and the preparation of documentation to unlock funding for project development activities.
The aim is to support primarily public sector entities and public-private partnerships in SIDS to mature and prepare project ideas and put them on a viable path to unlock and access public and private climate finance for further project development.
The CIP looks to facilitate this initial stage and bring a project idea to a quality project concept note, including for example initial pre-feasibility studies and potential financial structures and models Furthermore, the CIP will actively seek engagement with financial partners from the public and private sector, international financial institutions, and donors that potentially could supply funding for project development. Through this request, the CIP will award Technical Assistance for $30,000 to $80,000 to support development of a project concept, depending on the size and nature of the of the project idea, to eligible applicants.
Who can apply?
- Public sector entities in SIDS
- Public-private partnerships including with NGOs, foundations and associations
- We will consider strong applications from private sector organisations
- Must be a project assisting clean energy transition and/or energy access, including waste and water management, urban planning, and buildings;
- Must be focused on and deployed in Small Island Developing States;
- Must ensure adequate resources for continued engagement with TA/able to provide a project focal point throughout the project period;
- Applicants must demonstrate capacities in the energy sector;
- Must demonstrate it is aligned with country priorities;
- Must be able to provide own resources such as an in-kind contribution.
- Soundness of concept (50%)
- Long-term sustainability including:
- Evaluation of potential environmental, social, and regulatory risks (20%).
- Cross-cutting impacts or co-benefits (20%)
- Scalability and replicability of project (10%)
- Thursday 29 April: Launch of the call
- Friday 14 May: Workshop and Q&A
- Thursday 27 May, 12 pm ET: Close of call
- Tuesday 15 June: Announcement of successful applicants
- Beginning of August: Start of project development
- November 2021: Initial recommendations