As part of IRENA's objective to sustain and facilitate the spread of renewable energy technologies, IRENA has implemented a virtual market place for renewable energy projects.
The Sustainable Energy Marketplace is a platform free of charge, for project owners, governments, financiers, and service and technology providers to help develop and drive investments to new renewable energy projects. The marketplace will have region specific platforms including African, Asian, Latin American, and Caribbean platforms. The platform will be initially built for each region separately, but later it will expand to become a global market place.
The objective of the virtual market place is to accelerate the scale up of investments – both public and private – to promote initiation, development and financing of low-carbon renewable energy projects by bringing together project owners, governments, financiers, and service and technology providers. It makes investment opportunities visible and easily identifiable for investors, and helps project developers to identify relevant funding sources and expertise.
The understanding of the market and the capabilities of project owners, create a more transparent and structured framework for entities to operate, increase the project success rate, and finally improve sustainable development and access to energy in Africa through the deployment of renewable energy.
The virtual market place will bring together project owners, governments, financiers, and service/technology providers to:
How does it work?
Market stakeholders – project owners, financiers and service/technology providers – can register by submitting the required information on themselves and:
IRENA will assess the most promising projects in more detail and cooperate closely with international financing institutions, donors, private sector advisors and service providers to actively facilitate the market. This will include:
Project owners will be able to access various financial instruments by all sorts of investors such as development finance institutions, private companies, utilities, private equity funds, donor and multi-donor facilities, commercial banks and more. Furthermore, through the marketplace they will have access to different services (legal and financial advisory, environmental, project development, EPC contracting, etc.) and technologies.