The third in a series of 2021 events on the transformational potential of energy storage, this workshop brought together multilateral development banks, country officials, companies, and organizations investing in energy storage and other elements of clean energy to explore the unique aspects of energy storage finance and the relationship between private capital and concessional financing.
During the event,participants learned about:
- Learn about the scale of financing needed for the clean energy transition and the roles and relationships between private capital and concessional financing
- Understand the unique aspects of energy storage financing and enabling factors that reduce investment risk
- How private sector representatives are seeing key opportunities and barriers for scaling investment in clean energy and energy storage in developing countries
Participants heard from experts working on the front lines of public and private finance to develop investment strategies for energy storage and clean energy projects that can support the scale needed to meet global goals, as well as experts working to overcome barriers and enable scaled investment around the world.
These participants connected with a learning network of global energy storage professionals working to harness the power of energy storage through technology innovation, finance, and policy.
The event was a component of a new global network and community of practice associated with the Global Energy Storage Program (GESP), a $340 million initiative to support energy storage operations in developing countries. GESP bridges technology, financing, and policy gaps to develop new storage capacity, accelerate cost reduction, support integration of variable renewable energy into grids, and expand energy access for millions of people in developing countries. The program makes CIF the world’s largest multilateral fund supporting energy storage, building on over $400 million in existing storage support. GESP funding is expected to mobilize an additional $2 billion of public and private investments for these vital technologies.
We aslo invite you to view recordings, slides, and speakers from the May 12-13, 2021 GESP event, Keeping the Power On: Sparking Energy Storage Solutions in Developing Countries, which was attended by over 400 people from 65 countries, as well as the July 14 event, Keeping the Power On: The Business Case for Emerging Energy Storage Technologies.
