A EUR 8 million country window dedicated to the Pacific Island Countries renewable energy market.
ElectriFI has dedicated some EUR 8 million to deal with market barriers and attract renewable energy investment in the region. By increasing power generation from renewable energy sources, its ambition is to contribute to a less polluting generation mix and bring economic and environmental benefits to both citizens and companies.
Why Asia Pacific?
While Asia-Pacific has – according to the UN – the world’s fastest rising regional energy demand, Pacific Island Countries (PICs) rely heavily on imported fossil fuels, notably in the transport sector and electric generation industry. Diesel and heavy oil still account for most of the power generation in the region. Outdated power infrastructures, extreme climate conditions and numerous remote areas, add to the Pacific Islands energy challenge, as the region is also known for some of the highest electricity prices in the world. ElectriFI aims not only to empower investors and entrepreneurs active in the renewable energy market but also to catalyse new sources of funding.