15 October 2020 | In a series of three webinars taking place throughout the second half of September, public and private sector representatives, regional organizations, initiative proponents and financiers came together to discuss opportunities and barriers to scaling up investments in renewable energy, energy efficiency and smart mobility in the Pacific island countries.
“Accelerating Investments in Renewable Energy, Energy Efficiency and Smart Mobility in the Pacific Islands” was made possible through the support of the European Union and the New Zealand Ministry of Foreign Affairs and Trade, organised by the Carbon and Energy Professionals (CEP) and the Pacific Centre for Renewable Energy and Energy Efficiency (PCREEE) with the support of GET.invest and in partnership with ElectriFI, the Regional Pacific NDC Hub, SPC, GGGI and GIZ.
Speakers from across the region and the EU highlighted several barriers to private sector investment, including access to finance, regulatory challenges, a lack of financial guarantees and limited experience in negotiating power purchase agreements (PPA). While Pacific governments and utility providers have set ambitious renewable energy targets and, in some cases, prepared roadmaps to accelerate energy efficiency and sustainable transport, additional technical and financial support instruments adapted to the local context are required to scale up innovative solutions and improve access to reliable electricity, including for the many remote islands and atolls that are currently not fully electrified.