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Supply of electricity is one of the main problems of island states. At the same time, they often have high potential for using renewable energy generated from sustainable and local sources. The expansion of renewable energies in island developing states is aided by international expertise and financial support. The IRENA programme enables access to relevant market information about renewable energies, ranging from technological know-how and economic data to opportunities and development scenarios for projects involving renewables.
The International Renewable Energy Agency (IRENA) is an international organisation that supports countries in their transition to a sustainable energy future based on electricity from renewable resources. IRENA serves as the principal platform for international co-operation, a centre of excellence, and a repository of policy, technology, resource and financial knowledge on renewable energy. Since its founding in 2009 in Bonn, IRENA has expanded and has now over 150 Members, with 27 further countries having already started the formal process of becoming Members. With the headquarters in Abu Dhabi, United Arab Emirates, and the IRENA Innovation and Technology Centre (IITC), one of the three specialist departments in Bonn, IRENA currently cooperates with over 100 international experts. In international debates, IRENA is the global voice for renewable energy and promotes the use of all forms of renewable energy. It is also a platform for sharing knowledge about successful renewables advancement models, efficient political frameworks enabling promoting renewables, enhancement of capacities, financing schemes, and energy efficiency measures. The IRENA programme offers all stakeholders access to information about renewable energies whenever they are in the world, ranging from technological know-how and economic data to opportunities and development scenarios for projects involving renewables.
International partnerships and cooperation with industrialised countries and emerging markets and developing economies on advancing renewables offer companies access to relevant information enabling them to identify opportunities in the international market. IRENA promotes renewable energy projects worldwide, at all times in the pursuit of sustainable development, energy access, energy security and low-carbon economic growth and prosperity.
The IRENA project ”SIDS Lighthouse Initiative” (SIDS = small island developing states) is a lighthouse project for small island developing states which aims to further the development and mobilise funding and political will to advance renewable energies. At over USD 300 million already raised to advance renewable energies in island states, the 2020 target of about USD 500 million is already within reach. The cooperation with IRENA helps create in the participating countries framework conditions that will attract companies to the paradisiacal island states.
To cover their electricity needs, island states heavily rely on fossil fuel imports. Capital-intensive imports severely hamper the development of island states and are an obstacle to their economic growth. For example, the island of Mauritius spends over 10 percent of its GDP on fossil fuel imports. Being particularly exposed to the climate change, island states decide to invest in a future shaped by renewable energy. Given their own resources, SIDS could cover 100 percent of their energy needs from renewable energy sources. To be able to exploit their high potential, they must eliminate political, technological and financial barriers. Since 2014, IRENA has developed models for island states, the so-called roadmaps, through its experts and partnerships with the aim of creating framework conditions attractive to investors and governments. Thus, so far, over 30 projects have been successfully implemented and awarded over USD 300 million in funding raised from public and private pockets. IRENA published an overview of case studies in a report entitled ”A Path to Prosperity: Renewable Energy for Islands”. In Seychelles, for example, the Port Victoria Wind Power project, a wind farm with an installed capacity of 6 MW, was successfully designed and implemented with the help of the government and USD 28 million in funds received from the Abu Dhabi Fund for Development (ADFD). The wind turbines operated by Unison Co. Ltd., a medium-sized company from South Korea, supply electricity to 2,100 households every year. In addition to diesel-generated electricity, electricity demand is covered also (on a compensatory basis) by renewable resources thus enabling Seychelles to achieve annual savings of about USD 2.5 million.1
In a bid to raise a further USD 200 million for investments in the advancement of renewable energy by 2020, IRENA continues to work to create opportunities for project developers, investors and suppliers. It is advisable to stay informed on the latest developments about the programme and snap at the opportunities arising from tenders and changes in framework conditions.
1 In-house calculations based on information from Seychelles Petroleum Company (2016)
Maria Ueltzen
Associate Partner
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