1 June Presse- und Informationsamt, Pressesaal 13:30 h - 15:00 h

KfW Bankengruppe / The World Bank Group: Financing Renewable Energies in International Financial Cooperation - Innovative Concepts for Ensuring Sustainability and Broadening Access There is broad consensus that our global energy system has to undergo significant changes in order to urgently meet the demands for modern energy services for the over 2 billion people without access in developing countries while preserving our global climate, ecosystems and human health. Renewable energies can contribute considerably to meeting these needs. Nevertheless renewable energies still confront serious obstacles that make their promotion a strenuous and risky task, more so in developing and transitional countries. A critical challenge is to enhance affordability by mobilizing financing for renewable energy investments given higher up-front capital costs and perceived commercial risks still associated with some renewable energy options. Another challenge for developed countries is to ensure that costs for renewable energies will continue to come down through R&D; and widespread application (economies of scale). This Side event will present the major findings of a joint study that is undertaken by WorldBank Group and KfW Development Bank on renewable energy financing instruments. The study examined a wide array of options ranging from grant financing to micro financing, commercial debt and equity financing. The Side event will draw on good practice examples and discuss how these can be applied to enable broader access to reliable energy services to poor people in developing countries and economies in transition. The necessity to develop tailor-made financing instruments to specific frame conditions will also be addressed.

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