CIF - Scaling up Renewable Energy in Low Income Countries Program (SREP)

The Scaling up Renewable Energy in Low Income Countries Program (SREP) is one of three targeted programs that make up the Strategic Climate Fund (SCF) of the Climate Investment Funds (CIFs). SREP empowers transformation in developing countries by demonstrating the economic, social and environmental viability of renewable energy. Channeled through five multilateral development banks (MDBs), SREP financing supports scaled-up deployment of renewable energy solutions to increase energy access and economic opportunities, with a focus on low-income countries. SREP also contains dedicated Private Sector Set Asides (PSSAs), which allow concessional financing to projects that engage the private sector. It has five objectives: Assist low income countries foster transformational change to low carbon pathways by exploiting renewable energy potential; Highlight economic, social and environmental co-benefits of renewable energy programs; Help scale up private sector investments to achieve SREP objectives; Enable blended financing from multiple sources to enable scaling up of renewable energy programs; and Facilitate knowledge sharing and exchange of international experience and lessons SREP’s targets include: Generating over 3 million MWh per year of renewable energy Improving access to energy for over 140,000 businesses and 17.3 million people Reducing 2.5 million tons of GHG per year.