Istanbul, Turkey, November 28, 2012—IFC,
a member of the World Bank Group, is helping governments in developing
countries form partnerships with the private sector to expand access to
renewable energy and address the challenges of climate change.
IFC hosted a two-day workshop on public-private
partnerships in renewable energy. It brought together government representatives
and private sector executives from Africa, Asia, the Caribbean, Eastern
Europe, and the Middle East. The workshop covered solar, geothermal, wind
and hydropower energy and also addressed legal and regulatory issues in
the design and implementation of public-private partnerships in renewable
“The energy sector has a significant
role to play in enhancing sustainable development,” said Dimitris Tsitsiragos,
IFC Vice President for Eastern and Southern Europe, Central Asia, and the
Middle East and North Africa. “In particular, renewable-energy technologies
are the most sustainable solution to meet the ever-growing demand for energy.
They offer cost-effective, reliable, and safe energy generation.”
More than1.6 billion people worldwide
live without access to electricity, while many more are faced with expensive
and unreliable service. But progress is being achieved in increasing access
to cleaner power sources. In 2011, almost 35 percent of global private
investment in renewable energy took place in developing economies.
Since 2008, IFC has invested about $2.4
billion in more than 80 renewable-energy projects in 30 countries. In the
2012 fiscal year, about one-third of IFC’s PPP mandates signed were in
The workshop was the first in a new
series of IFC workshops examining the role public-private partnerships
can play in addressing climate change and expanding the use of renewable
energy in developing countries. Partners funding the series include the
Infrastructure Consortium for Africa, the Netherlands’ Ministry of Foreign
Affairs, and the Public-Private Infrastructure Advisory Facility. Future
workshops are planned for the municipal solid waste and water sectors.
IFC, a member of the World Bank Group,
is the largest global development institution focused exclusively on the
private sector. We help developing countries achieve sustainable growth
by financing investment, mobilizing capital in international financial
markets, and providing advisory services to businesses and governments.
In FY12, our investments reached an all-time high of more than $20 billion,
leveraging the power of the private sector to create jobs, spark innovation,
and tackle the world’s most pressing development challenges. For more
information, visit www.ifc.org.