IRENA Expands Virtual Matchmaking Platform for Sustainable Energy Financing

IRENA Sustainable Energy Marketplace Platform Goes Global (IRENA)

Abu Dhabi – The International Renewable Energy Agency (IRENA) is expanding its virtual Sustainable Energy Marketplace platform to cover all developing and emerging markets including Asia, Southeast Europe and Small Island Developing States (SIDS).

The platform launched two year ago has operated successfully in Africa, Latin America and the Caribbean.

According to IRENA the virtual Marketplace platform highlights promising low-carbon energy projects in developing countries and helps developers, financiers and service and technology providers connect to bring projects to fruition.

“Driven by investments in developed and emerging economies, the last decade has seen global investments in sustainable energy increase more than five-fold. Emerging and developing country markets still have enormous growth potential, but to tap into those opportunities, project owners and investors in the fields of renewable energy and energy efficiency need a simple way to connect”, says IRENA.

IRENA also adds that the expanded Marketplace platform unveils new user functionality and an upgraded interface that improves the user experience and facilitates interaction between the different stakeholders to advance projects. Users registered on the platform can now view all available projects, financing instruments, and services and technologies from all regions through a single integrated portal.

The Marketplace platform allows users to access relevant information relevant to investment in a specific region, including basic data and updates. Users can also get country-level information on policies and regulations, projects and financing instruments and the latest news, events, calls for proposals as well as reports.

The platform also provides access to IRENA project facilitation tools and tools and information developed by various partners.

The expansion of the Marketplace platform has also new features being added to allow stakeholders to join efforts in the development of renewable energy projects by sharing project pipelines, encouraging joint financing, sharing information and relying on the active support of the platform to the project developers.

“Through the platform, IRENA conducts project assessments — providing a better understanding on the needs of projects. This is then the basis for matchmaking, link projects and financing institutions, as well as other relevant stakeholders depending on the specific needs of a project,” IRENA explains.

“To access the online platform, market players — including project owners, financiers and service/technology providers — are required to create a profile. In addition, project owners and investors must add at least one project or instrument, respectively, to complete the registration process.”