Wed, Jun 23 | Virtual

Financing Energy Projects in Small Island Developing States

Registration is Closed
Financing Energy Projects in Small Island Developing States

Time & Location

Jun 23, 6:00 AM – 7:00 AM
Virtual

About the Event

As SIDS embark upon the pathway to the COVID-19 recovery and beyond, a forward-looking response that can realize their energy transition through investments in sustainable energy (renewable energy generation, energy efficiency, and clean cooling), will build resilience to future shocks and propel forward a greener economy. Governments are currently at a tipping point to determine a development path that avoids the “lock in” of carbon intensive technologies. Renewable energy solutions such as wind and solar are already some of the most affordable alternatives available to provide energy services and fuel a green economic recovery.

However, a key challenge for achieving the energy transition in SIDS is to address existing investor risks that affect the financing costs and competitiveness of sustainable energy. Despite falling investment costs, SIDS face high financing costs that can dramatically affect the competitiveness of sustainable energy versus fossil fuel technologies. Financing costs often reflect a number of perceived or actual barriers and their associated investment risks. For instance, barriers in access to grids, lengthy and uncertain processes to issue permits, limited local supply of expertise or a lack of long-term price guarantees can increase the perceived risk for investors and therefore deter investments or increase financing costs

Introduction - Shamini Selvaratnam, Climate Investment Platform

Welcome Remarks - HE Dr. Walton Webson,   Permanent Representative of Antigua & Barbuda to the United Nations,   Chair AOSIS

Moderator - HEMartin Bille Hermann, Permanent Representative of Denmark to the United Nations

Panelists

  • HE Satyendra Prasad, Permanent Representative of Fiji to the United Nations
  • Lesley Bearman Lahm, North America Representative, Asian Development   Bank
  • Charles De La Rosa, Director for Renewable Energy from the Ministry of   Energy and Mines, Dominican Republic
  • Paul Makumbe, CEO, Sunergise

Closing Remarks - Adriana Dinu, UNDP Deputy Assistant Administrator and Deputy Director Deputy Director, Bureau   for Program and Policy Support

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